Oman’s upstream aims to rock like its peers
Don’t call it a comeback, newly gas-focused majors have been here for years
Oman has largely missed out on the upstream capex boom underway in neighbouring Abu Dhabi and Saudi Arabia. Muscat’s focus—perhaps prudently given the relative paucity and high cost of the oil reserves on which its budget depends—has been on preparing for the day its reserves either run out or are no longer commercially viable. But while not towering over its regional competition, the sector is just getting warmer. In mid-September, majors Shell and TotalEnergies signed an exploration and production-sharing agreement for block 11, neighbour to their existing joint venture in block 10 in the central Al-Wusta governorate. In the latter, the majors were committing with the certainty of being ab

Also in this section
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand