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Oman Oil And Gas Market Size (2024 - 2029)

The Oman Oil and Gas Market is projected to experience growth over the forecast period, driven by expanding exploration, production activities, and infrastructure developments. However, the market's expansion may face challenges due to the rising adoption of alternative clean energy sources. Despite these challenges, the market is expected to benefit from significant opportunities arising from increased offshore exploration and production activities.

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Market Size of Oman Oil And Gas Industry

Oman Oil And Gas Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 4.36 Billion
Market Size (2029) USD 4.93 Billion
CAGR (2024 - 2029) 2.40 %
Market Concentration Medium

Major Players

Oman Oil And Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

Oman Oil and Gas Market Analysis

The Oman Oil And Gas Market size is estimated at USD 4.36 billion in 2024, and is expected to reach USD 4.93 billion by 2029, growing at a CAGR of 2.40% during the forecast period (2024-2029).

  • Over the medium term, the country's increasing oil and gas exploration, production activities, and infrastructure developments are expected to drive the market during the forecast period.
  • On the other hand, the increasing adaption of alternate clean energy sources is expected to restrain market growth.
  • Nevertheless, the increasing offshore exploration and production activities are expected to create significant opportunities in the market during the forecast period.

Oman Oil and Gas Industry Segmentation

Oil and natural gas are major industries in the energy market and significantly impact the global economy. Oil and gas production and distribution processes and systems are extremely complex, capital-intensive, and require cutting-edge technology. The industry is frequently split into three segments: upstream (oil and gas research and production), midstream (transportation and storage), and downstream (refining and marketing).

The Omani oil and gas market is segmented by sector. By sector, the market is segmented into upstream, downstream, and midstream. The report offers the market size in value terms in USD for all the abovementioned segments.

Upstream
Onshore
Overview
Key Upcoming and Existing Projects
Offshore
Overview
Key Upcoming and Existing Projects
Midstream
Crude Transportation
Overview
Key Upcoming and Existing Projects
LNG Terminal and Storage
Overview
Key Upcoming and Existing Projects
Downstream
Refineries
Overview
Key Upcoming and Existing Projects
Petrochemical Plants
Overview
Key Upcoming and Existing Projects
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Oman Oil And Gas Market Size Summary

The Oman oil and gas market is poised for growth over the forecast period, driven by increased exploration and production activities, as well as infrastructure developments. The upstream segment plays a crucial role in this growth, focusing on identifying and extracting hydrocarbon resources. Oman鈥毭劽磗 economy is heavily dependent on this sector, which is a significant contributor to export earnings and government revenues. The country is actively engaging in exploration activities to discover new reserves and enhance production from existing fields through advanced extraction techniques. These efforts are expected to bolster the market, despite the potential challenges posed by the shift towards alternative clean energy sources.

The market landscape in Oman is semi-consolidated, with key players such as BP PLC, Shell PLC, Eni SpA, Oman Oil Marketing Company SAOG, and China National Petroleum Corporation actively participating. Recent developments include new exploration bids and production initiatives, such as the contract signed with Shell, OQ, and Marsa Liquefied Natural Gas to boost gas production in the Mabrouk North field. These activities are anticipated to increase production volumes and generate substantial revenue, which can be reinvested into the economy. The ongoing exploration and production efforts, coupled with strategic partnerships and investments, are expected to create significant opportunities for growth in the Omani oil and gas market.

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Oman Oil And Gas Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Refinery Installed Capacity and Forecast in Thousand Barrels Per Day, Till 2028

    2. 1.2 Oman Oil and Gas Capex Market, in USD, Till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Gas Production and Infrastructure

        2. 1.5.1.2 Increasing Exploration and Production Activities

      2. 1.5.2 Restraints

        1. 1.5.2.1 Increasing Adoption of Clean Power Sources

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION - BY SECTOR

    1. 2.1 Upstream

      1. 2.1.1 Onshore

        1. 2.1.1.1 Overview

        2. 2.1.1.2 Key Upcoming and Existing Projects

      2. 2.1.2 Offshore

        1. 2.1.2.1 Overview

        2. 2.1.2.2 Key Upcoming and Existing Projects

    2. 2.2 Midstream

      1. 2.2.1 Crude Transportation

        1. 2.2.1.1 Overview

        2. 2.2.1.2 Key Upcoming and Existing Projects

      2. 2.2.2 LNG Terminal and Storage

        1. 2.2.2.1 Overview

        2. 2.2.2.2 Key Upcoming and Existing Projects

    3. 2.3 Downstream

      1. 2.3.1 Refineries

        1. 2.3.1.1 Overview

        2. 2.3.1.2 Key Upcoming and Existing Projects

      2. 2.3.2 Petrochemical Plants

        1. 2.3.2.1 Overview

        2. 2.3.2.2 Key Upcoming and Existing Projects

Oman Oil And Gas Market Size FAQs

The Oman Oil and Gas Market size is expected to reach USD 4.36 billion in 2024 and grow at a CAGR of 2.40% to reach USD 4.93 billion by 2029.

In 2024, the Oman Oil and Gas Market size is expected to reach USD 4.36 billion.

Oman Oil & Gas Market Report Snapshots

Oman Oil and Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)