Early Developments (Before 1960s)

  • Pre-1950s: Oman had little known petroleum activity. Traditional fishing and agriculture were the main economic activities.

1960s

  • 1962: The first oil exploration concession was awarded to the Petroleum Development Oman (PDO), a consortium of companies led by Shell.
  • 1967: Commercial oil production began in Oman, with the first oil field, Yibal, coming online.

1970s

  • 1970: Sultan Qaboos bin Said Al Said came to power, and he prioritized modernization and development, including the oil sector.
  • 1976: The first major oil refinery, the Muscat Refinery, was established, enhancing local refining capabilities.
  • 1979: Oman’s oil production reached 400,000 barrels per day (bpd).

1980s

  • 1980: PDO’s production peaked, significantly contributing to the national economy.
  • 1985: Oil prices fell dramatically due to global market changes, affecting Oman’s revenues.

1990s

  • 1991: Oman began to diversify its economy and reduce its dependence on oil revenues.
  • 1996: The government established the Oman Oil Company to manage oil and gas resources more effectively and to encourage foreign investment.

2000s

  • 2000: Oil production stabilized at around 700,000 bpd, supported by enhanced recovery techniques.
  • 2007: Oman signed agreements with international oil companies for exploration in the oil-rich areas of the country.
  • 2008: The natural gas sector began to expand, with significant discoveries being made.

2010s

  • 2010: The government announced the “Gas-to-Liquids” (GTL) project, which aimed to convert natural gas into liquid fuels.
  • 2012: The Khazzan gas field was discovered, estimated to hold significant reserves, becoming pivotal for Oman’s gas production.
  • 2014: The government announced plans to further develop the gas sector and expand LNG production capabilities.

2020s

  • 2020: The impact of the COVID-19 pandemic affected global oil prices, prompting Oman to revise its production strategies.
  • 2021: Oman launched the “Oman Vision 2040” strategy, emphasizing economic diversification and sustainable development, with a focus on the energy sector.
  • 2023: Oman made progress in developing renewable energy sources while continuing to invest in oil and gas infrastructure to sustain production levels.

Ongoing Developments

  • Oman continues to seek foreign investment to develop new oil fields and enhance gas production, including initiatives in sustainability and renewable energy projects.

This timeline highlights the major milestones in Oman's oil and gas development, showcasing the evolution of the sector and its significance to the country's economy.