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BMI View: Oman's underexplored offshore acreage and attractive business environment offers
international oil and gas companies lucrative opportunities in the country's upstream sector. However, the
prevailing low price environment makes it more difficult for smaller energy producers, such as Oman, to
attract upstream investment. We believe that large infrastructure projects, including new refineries or
pipeline connections, will markedly strengthen Oman's standing in the downstream sector over the next few
Latest Updates And Key Forecasts
? We hold our negative forecast for Oman's oil and gas reserves. We believe the country's oil reserves will
contract by more than 65% to 1.8mn bbl by 2025. Gas reserves will follow suit shrinking by nearly 25%
to 529bcm during 2016-2025.
? In late-August 2016, ARA Petroleum informed about its plans to conduct drilling and workover
campaigns in 2017 and 2018 on Omani Block 44.
Despite short-term gains, Oman's oil production is set to decline by around 5.6% over the coming decade,
standing at 915,150b/d in 2025.