The oil and gas industry in Oman is one of the major contributors to the country’s gross domestic product. This industry, which includes oil extraction and natural gas production, among others, has been steadily on the rise since 2011. Despite the rise in sales, it does not significantly impact GDP because of its small share. Other sectors such as manufacturing, construction, and trade are bigger. Oil drilling activities have also contributed significantly towards boosting economic development by generating employment opportunities.
Top Ten Oil and Gas Companies in Oman
Oman oil and gas companies are some of the most prominent businesses in Oman. They contribute to about 50% of the country’s GDP, with oil extraction and natural gas production among others being their core activities. Oil exploration has been on the rise in recent years. Oil drilling also contributes to economic development by creating jobs for people and money that helps support the economy.
The top ten oil and gas companies in Oman include:
1.GULF ENERGY SAOC- Oil and Gas Companies in Oman
Gulf Energy is one of the oil and gas companies in Oman. It was founded as a joint venture between GULF ENERGY SAOC, Abu Dhabi National Oil Company (ADNOC), and Mubadala Development Company PJSC in 2005. The company’s office is located at Muscat-Oman, where it has 1200+ employees working for them. In 2016, Gulf Energy had revenue worth $168.73 million, making it among the top oil and gas companies in Oman, with reasonable profitability rates annually.
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- Industry: Oil and Gas
- Employees: 1200+
- Founded: 2005
- Revenue Per Year (USD): $168.73 million
- Headquarter: Muscat, Oman
- Website: http://www.gulfenergy-int.com/
2.L&T MODULAR FABRICATION YARD LLC- Oman Oil and Gas Companies
L&T MODULAR FABRICATION YARD LLC was founded in 2006 and is based in Sohar, Oman. L&T MODULAR FABRICATION YARD LLC has 1351+ employees and generates $156.68 million in revenue per year.
Their main oil and gas services include:
- Design construction,
- Oilfield equipment supply,
- Fabrication of oil & gas modules;
- Oil production drilling equipment (such as heavy-duty drill pipe threading machine),
- Oil well completion tools (including sucker rod pump), etc.
It was founded as a joint venture between Larsen & Toubro (L&T) of India, Sohar Industrial City Company Ltd., Saudi Basic Industries Corporation (SABIC), and Indian Oil Corporation Limited (IOCL).
- Industry: Oil and Gas
- Employees: 1351+
- Founded: 2006
- Revenue Per Year (USD): $156.68 million
- Headquarter: Sohar, Oman
- Website: http://www.larsentoubro.com/
3.ADVANCED OILFIELD TECHNOLOGY CO- Oman Petroleum Company
Advanced Oilfield Technology Co. was started in Muscat, Oman. The company sells equipment to drill for oil and gas in the ground. They sell heavy-duty drill pipe threading machines and tools to finish wells (like sucker rod pumps).
AOTC has become one of the leading companies providing oilfields services from design construction, supply of oil & gas modules fabrication of oil & gas modules to complete turnkey solutions for offshore facilities.
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- Industry: Oil and Gas
- Employees: 1000+
- Revenue Per Year (USD): $143.14 million
- Headquarter: Muscat, Oman
- Website:http://www.aotcglobal.com/
4.BP EXPLORATION EPSILON LIMITED-Oil and Gas Companies in Oman
BP Exploration EPSILON Limited, also known as BP Oman, was founded in 2007 with oil and gas exploration rights. The company is a subsidiary of the British oil giant BP plc. They have oil fields located off the coast near Salalah that are used for research purposes only.
The oil refinery plant at Sohar Industrial Port is operated by “SOHAR Petroleum Company,” a joint venture between BP (70%) and state-owned National Oil Corporation of Oman (30%).
In 2008, they got involved in a controversy when they announced plans to drill for oil offshore from Angola. This project was canceled after protests arose over pollution concerns about dumping sediment into the Atlantic Ocean.
- Industry: Oil and Gas
- Employees: 1000+
- Founded: 2007
- Revenue Per Year (USD): $98.43 million
- Headquarter: Muscat, Oman
- Website: http://www.bp.com/
5.OQ REFINERIES AND PETROLEUM INDUSTRIES- Oil and Gas Companies in Oman
OQ Refineries and Petroleum Industries is a company that provides oil refining services to customers across the Middle East. They are based out of Muscat, Oman.
Three entrepreneurs established the company in 2019 with an investment from Saudi Arabia-based Oryx International Company for Oilfield Services (IOC). Their first project has been to supply Kuwait’s national oil refinery plant at Sitra Island.
Their goal is to take on more projects within the oil industry sector as they grow their business around this region. To do so, they plan to hire 500 additional employees before 2020 ends.
- Industry: Oil and Gas
- Employees: 500+
- Founded: 2019
- Revenue Per Year (USD): $82.12 million
- Headquarter: Muscat, Oman
- Website: http://www.oq.com/
6.SPECIAL OILFIELD SERVICES CO.LLC- Oman oil and gas companies
Special Oilfield Services Co.LLC, or SOC, is a private oil and gas company based in Muscat, Oman. The company specializes in oil services to oil companies worldwide, with their head office located at 27th Street in Al-Masirah District of Muscat City.
SOC was founded in 1986 by Abdullah al Mualla, who currently serves as its Chairman & CEO. The management team includes Vice President Hussain bin Saadoon who has served since 2008, and Executive Assistant Mohammed Sahibnoori from 2000 until his passing away on April 13, 2019.
SOC’s subsidiaries include-
- Special Offshore Engineering Company (SOEC), which provides design engineering for offshore drilling rigs;
- Special Drilling Company (SDC), which provides oil drilling and oil services;
- Special Lifting Services, which provide marine lifting equipment for oil companies.
The company’s main competitors are National Oil Well Varco (NOV) and Samsung Heavy Industries. SOC invests in research & development to stay on the cutting edge of offshore design engineering technology through its subsidiary SOEC.
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- Industry: Oil and Gas
- Employees: 567+
- Founded: 1986
- Revenue Per Year (USD): $79.73 million
- Headquarter: Muscat, Oman
- Website: http://www.specialoilfield.com/
7.GREATWALL DRILLING COMPANY (OMAN BRANCH)- Oman oil and gas companies
GREATWALL DRILLING COMPANY (OMAN BRANCH) is an oil and gas company founded in 1990. Headquartered in Muscat, Oman, with 308 employees, GREATWALL DRILLING COMPANY (OMAN BRANCH) has $43.31 million annual revenue as of 2014.
- Industry: Oil and Gas
- Employees: 308 (Oman Branch)
- Founded: 1990
- Revenue Per Year (USD): $43.31 million
- Headquarter: Muscat, Oman
- Website: http://www.gwdc.com.cn/
8.Petroleum Development Oman- Oman Petroleum Company
The Petroleum Development Oman, also known as PDO, is an oil and gas company based in Muscat, Oman. Founded in 1937, it has $11.38 billion annually with about 8000 employees (2007). It was founded on the idea to control oil production for market prices and supply security. The PDO names itself “a publicly-owned oil exploration, development, and production enterprise.”
PDO manages about one-third of the country’s reserves. This is 17% of the world’s oil reserves. One key thing PDO does is to explore new resources for oil in Oman, like those found west along the Dhofar coast or north near Yemen border. Recently, international petroleum companies have been partnering with PDO and other companies in Oman to do this exploration.
- Industry: Oil and Gas
- Employees: 8,500
- Founded: 1937
- Revenue Per Year (USD): $11.4 billion (2007)
- Headquarter: Muscat, Oman
- Website: https://www.pdo.co.om/en/Pages/Home.aspx
9.MAJEES TECHNICAL SERVICES-Oil and Gas Companies in Oman
Majees is a company that provides oil production engineering services and equipment to the oil industry. It was founded in 2006 and had its headquarters in Muscat, Oman.
Since its founding, it has grown into one of the Middle East’s leading oil service providers. Today, Majees employs over 200 engineers who design oil rigs and supply parts for them overseas.
The company saw a growth of 50% in 2015. It expects to grow by another 20% through 2020 due to increased international activity in Oman’s energy sector, such as BP (BP PLC), ExxonMobil Corporation (Exxon Mobil Corp), and Chevron Corporation.
- Industry: Oil and Gas
- Founded: 2006
- Revenue Per Year (USD): $19.48 million
- Headquarter: Muscat, Oman
- Website: http://www.majeestech.com/
10.AL KHALIJ HEAVY EQUIPMENT & ENGINEERING LLC- Oman Oil and Gas Companies
They make tools for oil companies. They make saws and drill bits. And they sell heavy vehicles too. They give these to companies. So that these companies can succeed better when trying to find oil in the ground.
The company was established in 1990 by four shareholders who are all brothers from the Al Khalij family (thus its name). One of their partners has since died, but their children still work at AL KHALIJ HEAVY EQUIPMENT & ENGINEERING LLC today. The company currently employs over 500 people, most of whom hold a university degree or diploma due to the high-level qualification needed for oil drilling.
- Industry: Oil and Gas
- Founded: 1990
- Revenue Per Year (USD): $17.15 million
- Headquarter: Seeb, Oman
- Website: http://www.alkhalij.org/
Conclusion:
Many oil and gas companies are operating in Oman. We talked about ten oil and gas companies in Oman. We talked about how they work, what they make, and more.
