Oman to explore new initiatives to unlock offshore oil potential


Oman’s vast and untapped offshore hydrocarbon sector holds the key to potentially unlocking resources that will help sustain the country’s oil and gas production over the long-term.

Unlocking the offshore oil potential in Oman is not just a strategic move, it's a transformative journey towards sustained energy prosperity. With vast reserves undiscovered beneath the ocean, Oman's Ministry of Energy and Minerals has embarked on a mission to tap into this valuable resource, ensuring a secure energy future for the nation and beyond.

At the heart of Oman's offshore ambitions lie innovative initiatives aimed at enhancing production capacity. The Ministry's green light for drilling new wells signals a commitment to leveraging cutting-edge technologies and operational expertise. By boosting output from existing offshore fields, Oman is not only fortifying its energy independence but also solidifying its position as a key player in the global oil market.

Strategically positioned platforms, such as Bukha, West Bukha and the more recent Yumna Field platform, symbolize Oman's unwavering dedication to offshore exploration. These platforms, strategically located off the northern and eastern coastlines, serve as beacons of progress in Oman's quest for energy security. Through meticulous planning and forward-thinking strategies, Oman has managed to extract millions of barrels of oil from its offshore reserves, laying a robust foundation for future growth.

The recent approval of drilling initiatives underscores Oman's proactive approach to resource management. By continuously investing in exploration and production, Oman aims to stay ahead of the curve in an ever-evolving energy landscape. Furthermore, with all existing offshore fields situated in shallow waters, Oman presents a lucrative opportunity for investors seeking to capitalize on this burgeoning sector.

Business Start Up Oman stands ready to support entrepreneurs and investors looking to seize the opportunities presented by Oman's offshore oil sector. From market research and feasibility studies to company formation and operational structuring, our network of experts provides comprehensive guidance at every step of the journey.

Oman's offshore oil potential holds the promise of a brighter, more sustainable energy future. With visionary leadership, advanced technologies, and a commitment to innovation, Oman is poised to unlock new horizons in offshore exploration.

Please click on the link to learn more about the opportunities and possibilities in the Sultanate of Oman as well as the initiatives of Business Start Up Oman.

Other News

News 30 - Thumb

Oman trade with Qatar amounted to OMR 571 million in 2023

Oman and Qatar recently announced an increase in trade volume of 20%, reaching OMR 571.15 million (USD 1.48 billion) in 2023 compared to OMR 475.96 million (USD 1.24 billion) in 2021.

The figures were...

Read more
News 29 - Thumb

Oman and UAE announce commencement of Hafeet Rail project

Oman will soon begin construction on its revolutionary railway project, which will connect Sohar to Al Ain and Abu Dhabi - a distance of over 300km.

Named 'Hafeet Rail', the visionary OMR 1.15 billion...

Read more
News 26 - Thumb

Oman to implement global IBAN banking system

Oman`s Central Bank (CBO) has announced it will introduce the International Bank Account Number (IBAN) standard enabling seamless local and international payments.

The banks initiative will [modernise...

Read more
News 25 - Thumb

Oman Airports celebrates record profits in 2023

Oman Airports and its subsidiaries have achieved remarkable growth in both financial performance and operational efficiency as highlighted in a latest report.

According to Oman Airports...

Read more
News 24 - Thumb

Oman Ministry showcases investment opportunities

Omans Ministry of Commerce, Industry and Investment Promotion recently promoted notable investment opportunities to foreign ambassadors and heads of global diplomatic missions.

The forum was hosted...

Read more
News 23 - Thumb

Oman unveils OMR 500 million waterfront project in Muscat

Oman’s Ministry of Housing and Urban Planning (MoHUP) has announced plans for a reimagined waterfront project in the capital covering 3.3 million square metres.

Termed as the Al Khuwair Muscat Downtown...

Read more
News 22 - Thumb

Oman`s National Finance continues to support SMEs

Oman`s National Finance Company has further strenghtened its commitment to local enterprises by extending its collaboration with Sharakah.

Sharakah is an organisation...

Read more
News 21 - Thumb

Oman Free Zones attract massive green industry investments

Oman's Public Authority for Special Economic and Free Zones (OPAZ) has revealed total invested capital has exceeded OMR 17 billion (USD 44 billion) as of Q2 2023.

Several contributing factors include...

Read more

Page Break