Oman’s Oil and gas industry continues to play a major role in the country’s economy. Despite government efforts to diversify oil and gas away from the economy, "The sector remains the largest in Oman and it is still growing."
(The Report, Oman 2014, Oxford Business Group)
In recent years, Oman has put into place a successful program to boost oil output in order to meet increasing domestic demand, and which continues to attract foreign investment and partnerships.
The Ministry of Oil and Gas is focusing on the increased use of enhanced oil recovery (EOR) techniques, which is targeted to account for 22 per cent of oil output by 2021. Currently, EOR applications account for a considerable share of Oman’s gas consumption.
Main Duties and Responsibilities:
♦ Development and implementation of plans, policies and studies to ensure optimum exploitation of the oil and gas
♦ Preparation and drafting proposals of legislation, laws and regulations governing the work of the oil and gas.
♦ Supervise Government’s interests with companies operating in the field of oil and gas.
♦ Oversees all oil and gas Exploration and Production activities, which are carried out by companies operating within the concession areas in Oman.
♦ Establish “Petroleum Agreements” with the Oil and Gas companies and oversees the implementation of the terms and conditions of the Agreements.
♦ Analyze the oil and gas world market situation for use in formulating policies of marketing the Sultanate’s crude oil and natural gas on behalf of the Government.
♦ Survey the available petroleum sources in the Sultanate and carry out the needed economic studies for optimum utilization.