The Largest and Most Important Oil and Gas Event in the Sultanate of Oman
Oil and Gas West Asia (OGWA) is an international event that brings together local and international upstream companies, technology and service providers, equipment suppliers, and other companies directly serving the industry’s requirements.
It is a platform for discussing the latest developments and directions of the industry, as well as for trade and business opportunities among the local and international upstream companies. Since its launch in 1998, it has been under the patronage of the Ministry of Oil & Gas.
OGWA was granted “UFI-Approved International Event” status by UFI-The Global Association of the Exhibition Industry in 2010.
The oil and gas industry in Oman foresees continued growth until 2050
Oman’s oil and gas industry will continue to play an important role in the economy and is poised for continued growth, owing to rising global demand leading up to 2050, more buoyant global energy prices, and renewed investment.
“Reserve discoveries, new concessions and efficient technology leverage steady growth in global oil indices.” (The Report, Oman 2019, Oxford Business Group)
Contracts still to be awarded with a collective value in excess of US$ 21 billion before the end of 2021 highlights the vast opportunities that Oman has to offer. (MEED Oman Projects 2018)
Although hydrocarbon activity still attracts the lion’s share of domestic and foreign investment, more efforts are being made to expand expanding the downstream capacity, heightened use of enhanced oil recovery (EOR) techniques and venturing into natural gas.
Industry facts and figures
Oman is planning to invest about US$5.7 billion in 2019 in oil and gas production and exploration activities, nearly 6 per cent higher than 2018.
The hydrocarbon sector accounts for about US$12.2 billion or 74 per cent of the total US$26.2 billion estimated overall revenue in 2019.
Oman’s real GDP growth is expected to grow by 2.7 per cent in 2019 up from 2.4 per cent in 2018. (Fitch Solutions Group)
Oman’s hydrocarbon production is set to rise considerably in 2019.
Oman’s crude production is seen to rise by 3.1 per cent in 2019, from 0.5 per cent in 2018. Production will largely stem from investments in EOR maturing fields.
US$ 26 billion worth of mega oil field, petrochemical projects are seen to drive the country’s growth