This Oman Projects H1 2020 analysis module will cover:
- Opportunities and challenges in Oman’s projects market
- Analysis of the pipeline of planned projects and contract awards
- Key policies and drivers shaping the outlook for projects in Oman
- Political and economic background
- The barriers and challenges that may arise
- Sector-by-sector breakdown of future project plans
- Key drivers of projects in each sector
- Oman’s most valuable key projects and major project sponsors
Oman has historically been one of the smaller markets in the GCC. A smaller population and more limited oil and gas resources than its neighbours have traditionally meant that sits behind Kuwait and Qatar and ahead of Bahrain in terms of annual contract awards. But that is not to say that the Sultanate does not offer a variety of interesting opportunities for contractors, consultants and suppliers alike. In recent years, there have been a number of large-scale projects across different sectors such as the Duqm refinery, the new Muscat international airport, and the Batinah expressway scheme among others.
Because of the government’s limited financial resources, the private sector plays a key role in project development. Duqm is set to be a major investment hub, with several multi-billion dollar industrial projects in the pipeline funded by international investors seeking to take advantage of the new town’s beneficial location. The relative openness of the oil and gas sector means that several oil majors are active in hydrocarbons production in the Sultanate; both Total and Shell are planning major oil and gas export development projects from their concessions in Sohar and Duqm for example.
As the second largest country geographically in the GCC, Oman has extensive road and airport expansion projects as the government seeks to improve access to more remote regions. For the same reason, it has a more active mining sector than other regional markets. Water, too is a market where Oman is leading the way. While the market may not offer the same extent and size of other local projects markets, it does offer interesting and potentially lucrative contracts for companies from around the world.
Oman Projects H1 2020 is the update to last year’s H1 report. Focused on data, it is aimed at helping companies create strategies for targeting and growing the market by providing quick and easy use data snapshots. It uses almost exclusively adjusted data from MEED Projects, the region’s leading online projects tracking service. With 15,000 active projects tracked and more than 35,000 in total in the database, MEED Projects makes it possible to quantify current, historical and future trends in the projects market in the region.
The report includes a section on the latest impact the Coronavirus, COVID-19, is expected to have on the Sultanate. Although at the time of writing a lot is uncertain, the overall impact is expected to be severe on the local economy and projects market.