Oman Maintains Stable Energy Output: Implications for Investors in Green Projects and Sustainable Business Growth

• By Oman Market
• July 12, 2025July 15, 2025
• gas oil renewable energy
• With 0 comments

MUSCAT: The Ministry of Energy and Minerals of Oman has announced stable oil and gas production figures for 2024, alongside significant advancements in renewable energy and green hydrogen initiatives. The country’s crude oil and condensate reserves stand at 4.825 billion barrels, while its natural gas reserves amount to 23.3 trillion cubic feet. Oman currently operates 475 production fields, comprising 400 oil fields and 75 gas fields, and has drilled 73 exploratory wells.

Daily oil production averaged 992,600 barrels, with total exports reaching 308.4 million barrels at an average price of $80.79 per barrel. Natural gas production also showed robust figures, averaging 149.2 million cubic meters per day, including 117.5 million cubic meters from non-associated sources. The total liquefied natural gas (LNG) exports reached 12 million tonnes through 181 shipments. In addition, Oman exported 122 million barrels of petroleum products, primarily gas oil, jet fuel, and naphtha, with imports limited to 2 million barrels, highlighting the strength of local production capabilities.

The Ministry has signed eight agreements concerning hydrogen production and reported the generation of 2.4 terawatt-hours of renewable electricity, contributing to a total electricity output of 49.1 terawatt-hours. Significant solar projects, including Manah 1 and 2, are expected to add 1,000 megawatts of capacity by 2026, with a projected reduction in emissions of 1.4 million tonnes annually.

In the mining sector, Oman produced 67.7 million tonnes of minerals, exporting 36 million tonnes. Investment in key projects such as the Al-Ghaizain and Al-Washhi copper developments indicates growing confidence in this sector. Notably, Omanisation in the oil and gas industry has reached 89 percent, while spending by small and medium-sized enterprises in this field has totaled $1.8 billion, accounting for 17.2 percent of overall sector expenditure. — ONA

Special Analysis by Omanet | Navigate Oman’s Market

Oman’s strategic focus on renewable energy and green hydrogen initiatives, alongside its robust oil and gas production, presents a unique opportunity for businesses to invest in clean energy innovations and sustainable practices. With high local production capabilities and significant mineral exports, risk-averse investors should consider diversifying into renewable sectors, including solar and hydrogen projects, to capitalize on a growing market driven by global demand for cleaner energy. Entrepreneurs will benefit from leveraging the Omanisation trend and engaging in partnerships within the burgeoning SME landscape.