Oman Oil and Gas Report Q2 2014


Naperville, IL -- (SBWIRE) -- 04/25/2014 -- Reportstack, provider of premium market research reports announces the addition of Oman Oil and Gas Report Q2 2014 market report to its offering
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.
We highlight the following trends and developments in Oman's oil and gas sector:
? Oman has managed to oversee an impressive revival of activity in its hydrocarbons sector. Specifically,
the government has channelled efforts and funds into enhanced recovery methods. The results to date
have been largely successful, with output recovering from a low of 714,000 barrels per day in 2007, to a
forecast of around 961,000b/d for 2014. The redevelopment of existing fields in order to boost recovery
rates, as well as the upside offered by healthy interest from international oil companies (IOCs) in the
country's upstream, underscore a broadly positive outlook for the oil sector.

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