Fourth Energy and Minerals Forum in Al Wusta: Key Insights for Investors and Entrepreneurs in Oman’s Resource Sector
AL DUQM: The Ministry of Energy and Minerals recently hosted the Fourth Energy and Minerals Forum in the Wilayat of Al Duqm, Al Wusta Governorate, under the patronage of Eng. Salim bin Nasser al Aufi, Minister of Energy and Minerals.
The forum’s objective was to showcase significant projects and investment opportunities within Al Wusta Governorate, while fostering collaboration between government entities and the private sector across sectors including oil and gas, mining, renewable energy, and green hydrogen. Presentations focused on critical issues such as oil and gas development, mineral resources, renewable energy, hydrogen, and net-zero initiatives. This aligns with the Ministry’s commitment to advancing sustainable energy and economic diversification as part of Oman Vision 2040.
In his keynote address, Eng. Salim al Aufi emphasized the Ministry’s dedication to maintaining an ongoing dialogue with its partners to promote sustainable growth in the energy and minerals sectors. He highlighted the strategic importance of Al Wusta Governorate in Oman’s energy landscape, noting that it encompasses 12 oil and gas concession areas—eight of which have already been awarded—and 10 mining concessions for minerals such as silica, salt, kaolin, potash, and pyrite.
The Governorate is also a site for significant renewable projects, including the Ras Madrakah initiative and the Mahout Wind Power Plant, which is set to have a capacity of 400 MW and is anticipated to begin operations in 2027. Additionally, the Masirah–Mahout power interconnection project, operating at 132 kV across 60 kilometers, is expected to be completed in 2026.
Al Aufi reaffirmed the Ministry’s goals of achieving Net Zero by 2050, backed by the Oman Net Zero Centre and initiatives to reduce emissions and enhance energy efficiency. He mentioned plans to eliminate routine gas flaring by 2030 and to increase the use of renewable energy in oil and gas operations, promoting sustainability and minimizing the carbon footprint.
In the mining sector, the Minister noted that silica extracted from the Mahout concession area currently serves the local market for ferrosilicon production, which is crucial for industries such as steel, magnesium, and chemicals. Future initiatives aim to expand this usage into glass manufacturing and to develop capabilities for high-tech applications, including semiconductors and solar panels, thereby maximizing the value of Omani minerals and fostering local talent development.
Shaikh Ahmed bin Musallam al Kathiri, Governor of Al Wusta, praised the Ministry’s efforts in organizing the forum, which he remarked highlights the Governorate’s rising significance as a center for energy and future industries. He stressed that Al Wusta’s strategic location and resource availability position it at the forefront of Oman’s sustainable development goals.
He added that the Governorate continues to collaborate closely with government agencies to facilitate the execution of economic projects that create job opportunities, empower local enterprises, and stimulate regional economic activity—aligning with the broader objectives of Oman Vision 2040.
The event was attended by senior officials, including Shaikh Dr. Ali bin Masoud al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), Shaikh Ahmed bin Musallam al Kathiri, and Mohsin bin Hamad al Hadhrami, Under-Secretary of the Ministry of Energy and Minerals, as well as representatives from various governmental bodies and private companies in the energy and mining sectors.
Special Analysis by Omanet | Navigate Oman’s Market
The recent Fourth Energy and Minerals Forum highlights significant opportunities in Oman’s energy and minerals sectors, particularly in the Al Wusta Governorate. Investors should seize this moment to explore ventures in renewable energy and sustainable practices, aligning with Oman Vision 2040 and the government’s commitment to net-zero goals by 2050. However, businesses must also be vigilant about potential regulatory changes and market competition, ensuring adaptive strategies in this evolving landscape.
