Oman

Investment & Operational Criteria

Key Indicators
‍

Risk Premia
‍

0.625

Outlook
‍

Positive

Rating
‍

A|2S|+

Ranking
‍

Reserves (1P)
‍

Total
‍

mm boe

Oil
‍

Summary

Oman offers a benign operating environment, although the economy remains highly leveraged to O&G revenues. Fiscal reforms have restored an investment-grade rating, and new block awards and gas developments continue to attract partners. Outlook maintained because the operating environment remains supportive. Outlook: Positive. Risk premia unchanged at 0.625%.

Updated

October 7, 2026

Country Basics

Region

Middle East

Reserves (1P)
‍

Oil
‍

mm bbl

Gas
‍

bcf

Location

Middle East, bordering the Arabian Sea, Gulf of Oman, and Persian Gulf, between Yemen and the UAE.

Outline

Tax Regime
Type

Multiple (PSC/Concession)

Tax Regime
Notes

The fiscal regime that applies in Oman to the oil and gas exploration and production industry sector consists of corporate income tax (CIT) in accordance with the production sharing contract ("PSC") arrangement.

Investment &
Operational
Climate

Sultan Haitham bin Tariq's fiscal reforms have restored Oman's investment-grade rating, and a personal income tax on high earners is planned from 2028. US and UK guidance cite the US–Oman FTA and improving FDI rules, but note Omanisation quotas and bureaucracy. The EIA notes output of around 1 million b/d, with PDO's Block 6 and BP's Khazzan gas central. Oman LNG's operating licence has been extended, and green hydrogen tenders are under way.

Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.

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