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Oman 2021 – Trends and Opportunities for Business in the Sultanate of Oman – MEED Insights

Pages: 321 Published: December 31, 2020 Report Code: GDMD022CON

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Over the past few years, there has been a significant escalation in project activity in Oman with several notable megaprojects completed such as the Duqm refinery, the new Muscat international airport, and the Batinah expressway scheme. And with more than $170bn worth of projects planned or under way, Oman offers a strong pipeline of future opportunities.

The Covid-19 pandemic and weak oil prices had a significant negative effect on Oman’s project market in 2020 with less than $5bn worth of project contracts awarded in the first ten months of year.

Faced with an economic downturn, the outlook for Oman’s future projects market will hinge on foreign investment in its major industrial hubs in Sohar, Duqm and Salalah. Chinese investment in particular will be key as part of its Belt and Road Initiative to benefit from Oman’s position on the main East-West shipping axis.

Also critical will be the development of the sultanate’s PPP project plans to obtain more private sector involvement in the funding, construction and operation of future projects. In the absence of major government capital expenditure, private sector financing will be pivotal in getting projects moving again.

Furthermore, with tourism being a key component of Oman’s Vision 2040, a swift revival of this sector after the Covid-19 pandemic will be important for the sultanate’s recovery, as developers prepare to complete nearly $7.5bn of tourism and tourism-related projects by the end of 2023.

The accession of Sultan Haitham bin Tariq al-Said in January 2020 is another critical factor to Oman’s progress, and the new Sultan has had a major impact in 2020, making significant changes to the government and the devolution of powers to both ministers and regional governors.

Written by MEED, the Middle East market experts within the GlobalData Group, "Oman 2021" the latest premium intelligence report.

The report assesses the drivers of Oman’s projects market and the opportunities for international and local business. These opportunities and their challenges are analysed along with the political and economic environment.

The report provides investors, contractors, manufacturers and consultants with a powerful resource that will help them to identify new opportunities, set strategy, and mitigate risk in one of the Middle East’s most important markets.

Scope

The 321-page report includes more than 139 charts, tables, graphs and maps, including tables of projects due to be awarded in 2021, along with projects currently under execution

A powerful resource for anyone seeking to find opportunities, understand risks, set strategy in Oman.

The report assesses the challenges facing the market and includes a review of the changes taking place across Oman’s political and economic spheres.

The report looks at the impact of Covid-19 on Oman, and what it means for business in the Sultanate.

Understand the impact of coronavirus on Middle East oil and gas

It informs strategy

Identifies new and potential opportunities

Highlights challenges in the market

Helps you minimise risk.

Reasons to Buy

Detailed analysis of the opportunities for business and projects in Oman

Comprehensive review of the impact of Covid-19 on the Oman market

Outlook for policy and investment in the Sultanate

A review of the vision and reforms of Sultan Haitham bin Tariq al-Said

Project opportunities with client and procurement details

Investment drivers and client spending plans

Understand risks and set strategy in the Oman market

Complete assessment of the economic outlook for the Oman

Updates on Oman’s Vision 2040 development plan

Analysis of all major business sectors in Oman including: oil & gas; power & water; construction, petrochemicals, transport and renewables

Detailed assessment of Muscat’s Public Private Partnership (PPP) plans

Table of Contents

Table of Contents

1 Executive summary

2 Coronavirus (Covid-19)

Economic impact

Covid-19 impact on projects market

3 Government

4 Economy

5 Projects market

6 PPP in Oman

7 Oil and Gas

8 Construction

9 Tourism

10 Transport

11 Industry

12 Power and Renewables

13 Desalination

14 Wastewater

List of Tables

List of Tables

Table 1: Council of Ministers

Table 2: Regional governors

Table 3: Economic indicators, 2017−2021

Table 4: Public finances (ROm)

Table 5: Top merchandise trade partners, 2019

Table 6: Top 10 contracts awarded, 2015−2020*

Table 7: Largest projects cancelled or put on hold, awarded during 2015−2020*

Table 8: Top 10 contractors by value of work under execution

Table 9: Top 10 clients by value of work under execution

Table 10: Top ten projects due to be awarded during 2020−2023

Table 11: Sultan Qaboos Medical City PPP

Table 12: Ongoing PPP projects in the power & water sector

Table 13: Planned renewable energy IPPs

Table 14: Oman LNG customers

Table 15: Oil and gas concession blocks

Table 16: Recent oil sector awards

Table 17: Planned and unawarded oil projects

Table 18: Major recent gas project awards in Oman

Table 19: Planned and unawarded gas projects

Table 20: Ongoing and planned petrochemicals projects in Oman

Table 21: PDO deals with local contractors and suppliers, 2010–2020*

Table 22: Construction projects out to tender

Table 23: Major construction projects under study or design

Table 24: Education projects planned or underway

Table 25: Major healthcare projects planned or underway

Table 26: Oman major tourism-related projects planned or underway

Table 27: Major hospitality projects planned or underway

Table 28: Cultural projects planned or underway

Table 29: Leisure projects planned or underway

Table 30: Airport projects planned and underway

Table 31: Oman planned and underway port projects

Table 32: Oman rail network key facts

Table 33: Oman National Rail projects

Table 34: Major road contracts under execution

Table 35: Major road projects in the pre-execution phase

Table 36: Oman transport sector leading contractors

Table 37: Oman major industrial projects in pre-execution

Table 38: Industrial & mineral production

Table 39: Iron and steel projects planned and awarded

Table 40: Metals, minerals and cement projects

Table 41: Selected metals and minerals production (t/y), 2014−2018

Table 42: Oman industrial sector leading contractors

Table 43: Oman power and renewables sector key facts, 2019

Table 44: Oman, MIS contracted capacities (MW

Table 45: Total power generation capacity in Oman (MW)

Table 46: MIS non-contracted generating capacity by plant, 2020−2024 (MW)

Table 47: Contracted operational power capacity in the MIS

Table 48: Contracted capacity in Dhofar Power System, (MW), 2020–2025

Table 49: Non-firm contracts, renewable energy, 2020–2025

Table 50: Projected total power generation resources in Duqm (MW)

Table 51: Thermal power generation projects, planned or underway

Table 52: Renewable Energy Development Plan – MIS (MW), 2019−2025

Table 53: Renewable power projects, under execution

Table 54: Renewable power projects, planned

Table 55: Oman power transmission & distribution projects, planned or underway

Table 56: Oman leading contractors by value ($m)

Table 57: Oman water sector key facts

Table 58: Main wadis and surface run-off*

Table 59: Oman upcoming water & desalination projects by value

Table 60: Operating wastewater treatment plants in Oman

Table 61: Oman upcoming wastewater treatment projects by value

Table 62: Oman wastewater treatment projects under execution by value

List of Figures

List of Figures

Figure 1: Oman construction and transport sector contract awards ($m), 2010–2020*

Figure 2: Oil and gas production, 2000−2019

Figure 3: GDP by sector (%), 2018

Figure 4: General government gross debt, 2010−2025

Figure 5: Net foreign direct investment (current $m), 2000−2019

Figure 6: Project awards by GCC country, 2015−2020* ($m)

Figure 7: Contract awards by sector and year, 2015−2020* ($m)

Figure 8: Contract awards by sector, total for 2015−2020* ($m, %)

Figure 9: Public and private sector awards, by industry, 2015−2020* ($m)

Figure 10: Cancelled/On hold projects 2015−2020*, by sector (% of total by value)

Figure 11: Major clients by value of work planned ($m)

Figure 12: Value of yet-to-be awarded projects by sector ($m)

Figure 13: Key features of Oman’s PPP and Privatisation Laws

Figure 14: Oman PPP Framework Timeline

Figure 15: PDO quick facts, 2019

Figure 16: Scope of PDO Business

Figure 17: Oman oil production (‘000b/d), 2010−2019

Figure 18: Oil and gas license areas

Figure 19: Contribution of Enhanced Oil Recovery (EOR) to Oil Production (%)

Figure 20: Oman LNG exports (billion cubic metres), 2010–2019

Figure 21: Oman gas production (billion cubic metres), 2010–2019

Figure 22: Khazzan gas reserves

Figure 23: Gas supply outlook, 2009−2025

Figure 24: Orpic Plants

Figure 25: Orpic refineries production (‘000 barrels), 2008−2017

Figure 26: Oman’s chemicals production capacity (Mtpa) and Market Share (%), 2010−2018*

Figure 27: Oil & gas contract awards by year ($m), 2010–2020*

Figure 28: Energy contract awards, 2010–2020* ($m)

Figure 29: Oman biggest oil, gas and petrochemical contractors

Figure 30: Oman contract awards in construction, 2010−2020* ($m)

Figure 31: Construction contract awards by sector, 2010−2020* ($m)

Figure 32: Construction projects by status (% of total value)

Figure 33: Construction projects underway by sub-sector (% of total by value)

Figure 34: Construction projects underway by governorate (% of total by value)

Figure 35: Biggest clients in Oman by contracts under execution ($m)

Figure 36: Biggest contractors in Oman by contracts under execution ($m)

Figure 37: Oman tourism contract awards, 2010−2020* ($m)

Figure 38: Oman tourism contract awards by sector ($m), 2010–2020*

Figure 39: Oman’s biggest tourism contractors ($m)

Figure 40: Oman transport sector contract awards ($m), 2010–2020*

Figure 41: Oman transport sector contract awards by sector(%), 2019–2020*

Figure 42: Planned transport sector contract awards (%)

Figure 43: Airport developments

Figure 44: Planned rail network

Figure 45: Oman planned rail network, Segment One

Figure 46: Industrial contract awards ($m/yr), 2010−2020*

Figure 47: Oman new electricity market structure

Figure 48: Oman electricity market structure, MIS

Figure 49: Oman electricity market structure, Dhofar Power System (DPS)

Figure 50: The MIS and Salalah systems

Figure 51: Oman electricity reform milestones

Figure 52: Oman annual power consumption (GWh), 2015–2030

Figure 53: Peak power demand in MIS and Dhofar Power System (MW), 2008−2019

Figure 54: Projected peak and average power demand in MIS (MW), 2018−2025

Figure 55: Projected peak and average power demand in Dhofar (MW), 2018–2025

Figure 56: Peak power demand in Ad Duqm (MW), 2018−2025

Figure 57: Peak power demand in Musandam (MW), 2018−2025

Figure 58: Oman installed total capacity by fuel type (MW), 2015–2030

Figure 59: Oman installed total capacity by fuel type (MW), 2019

Figure 60: Oman annual power generation by fuel type (GWh), 2015–2030

Figure 61: Projected gas consumption for MIS (million cubic metres/day), 2018−2025

Figure 62: Projected gas consumption for Dhofar (million cubic metres/day), 2018−2025

Figure 63: Oman installed renewable capacity (MW), 2015–2030

Figure 64: Oman annual renewable power generation (GWh), 2015–2030

Figure 65: Global solar radiation average (kWh/m2/d)

Figure 66: Annual direct normal irradiance map of Oman*

Figure 67: OPWP shareholder structure

Figure 68: Desalination developers by capacity (cm/d)

Figure 69: Oman population (million) 2015−2025

Figure 70: Total population vs Urban population in Oman (million), 2010−2025

Figure 71: Peak water demand (‘000 cm/d), 2018−2025

Figure 72: Peak water demand in MIS (‘000 cm/d), 2018−2024

Figure 73: Water demand in Sharqirah network (‘000cm/d), 2018−2025

Figure 74: Water demand in Dhofar network (‘000cm/d), 2018−2025

Figure 75: Water demand in Musandam (‘000cm/d), 2018−2024

Figure 76: Sea water intrusion and abstraction levels in Al Batinah (Mm3), 1982−2010
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GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

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Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

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