Oman Projects, H2 2020 with COVID-19 impact update - MEED Insights

Oman Projects, H2 2020 with COVID-19 impact update - MEED Insights

  • September 2020 •
  • 214 pages •
  • Report ID: 5978025 •
  • Format: PDF
Oman Projects, H2 2020 with COVID-19 impact update - MEED Insights

Summary
Oman has historically been one of the smaller markets in the GCC.A smaller population and more limited oil and gas resources than its neighbours have traditionally meant that sits behind Kuwait and Qatar and ahead of Bahrain in terms of annual contract awards.

But that is not to say that the Sultanate does not offer a variety of interesting opportunities for contractors, consultants and suppliers alike. In recent years, there have been a number of large-scale Projects, across different sectors such as the Duqm refinery, the new Muscat international airport, and the Batinah expressway scheme among others.

The Sultanate’s more delicate economic position has meant that it has been hit hard by Covid-19. Faced with a reduction in revenues, the government reacted by cutting back on Projects, spending and slowing new tenders on the tender board to a crawl.

However, some major contracts have been awarded in 2020 because that have been funded by development funds from Oman’s richer GCC neighbours. These Projects, have ensured that the Sultanate has not seen a sharp year on year fall in Projects, spending so far.

Faced with an economic downturn, the outlook for Oman’s future Projects, market will hinge on foreign investment in its major industrial hubs in Sohar, Duqm and Salalah. Chinese investment in particular will be key as part of its Belt and Road Initiative to benefit from Oman’s position on the main EastWest shipping axis.

Also critical will be the development of the Sultanate’s PPP project plans to obtain more private sector involvement in the funding, construction and operation of future Projects,. In the absence of major government capital expenditure, private sector financing will be pivotal in getting Projects, moving again.

Written by MEED, the Middle East market experts within the Group, "Oman Projects, H2 2020", is the update to last year’s H1 report. Focused on data, it is aimed at helping companies create strategies for targeting and growing the market.

Reasons to Buy
- Opportunities and challenges in Oman’s Projects, market
- Analysis of the pipeline of planned Projects, and contract awards
- Key policies and drivers shaping the outlook for Projects, in Oman
- Political and economic background
- The barriers and challenges that may arise
- Sector-by-sector breakdown of future project plans
- Key drivers of Projects, in each sector
- Oman’s most valuable key Projects, and major project sponsors
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