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"Oman Oil & Gas Report Q2 2014" Now Available at Fast Market Research

New Energy research report from Business Monitor International is now available from Fast Market Research

 

Boston, MA -- (ReleaseWire) -- 05/12/2014 -- Oman's significant gains in oil production in the last few years will peak in 2016, moderately and gradually declining. This is primarily due to the decreasing returns from the enhanced recovery efforts that Oman has pursued in the last decade. The rewards for the Omani oil industry is as follows: new lucrative opportunities from the approval of additional upstream projects to new discoveries, with a specific focus on offshore being a unique area of opportunity. There are downside risks, the most important being the disappointing output from redevelopment projects. These risks extend to gas as well. While we assume a more sustained rebound in output, albeit with much of the gains reliant upon BP's costly and complex Block 61, setbacks here would result in downward revision to our forecast. That said, Oman's continued push to secure additional foreign participation makes the market one of opportunity despite expectations for growth to moderate. The recent Iran-Omani gas initiative, facilitated by an easing of US/EU sanctions on Iran, promises to be a major opportunity for the Omani gas sector. And if the thaw in Iran-US relations continues, Oman's strategic location on the southern end of the Persian Gulf can facilitate re-exports into the Arabian Peninsula, with possible ramifications for LNG.

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