Omani oil and gas sector to witness growth over next 5 years

Oman's oil and gas sector will witness growth over the next five years, Indian research firm Mordor Intelligence said in a recent report.

The report predicts that the Omani oil and gas market will grow at a compound annual growth rate of more than 5 percent during the period from 2023 to 2028.

According to the report, factors such as supportive government policies and efforts to develop the sector, along with future projects are expected to drive the growth of the market. Additionally, the report noted that a large number of discoveries in recent years, and ongoing exploration activities are expected to provide a huge opportunity for market players in the oil and gas industry of the country.