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

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



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 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

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

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

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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