Market Size of Oman Oil and Gas Upstream Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oman Oil and Gas Upstream Market Analysis
The Oman oil and gas upstream market is expected to grow at a CAGR of more than 5% during the forecasted period.
The market was negatively impacted by COVID-19 in 2020. Currently. The market has reached pre-pandemic levels.
- In the long-term, supportive government policies, efforts to grow the offshore sector, and upcoming projects are the key drivers for the country's oil and gas upstream market. Also, the increased exploration activities in the country are expected to be the significant driver for Oman's oil and gas upstream market.
- On the other hand, the requirement for high capital investment and a lack of financing due to a global economic slowdown are some restraints for Oman's oil and gas upstream market.
- Nevertheless, many discoveries in recent years and ongoing exploration activities are the key opportunities to provide a significant opportunity for the country's oil and gas industry market players.
