Oman’s oil and gas sector is a cornerstone of its economy, contributing approximately 70% of government revenues and 30% of GDP. The country produces around 1.08 million barrels per day (bpd) of oil, primarily heavy crude, with exports of 770,000 bpd in 2024.

Largest oil and gas companies in Oman, including government-owned Petroleum Development Oman (PDO), OQ, and Oman LNG, along with global oil and gas giants Oxy, Shell, and bp, play an important role in running the country's complete energy value chain.

According to Blackridge Research’s Global Oil and Gas Market Report, the value of the oil and gas market in Oman is USD 4.5 billion, with projects to reach 5 billion by 2030. China remains the dominant export market, receiving 82% of Oman’s crude oil exports.

In this blog, we explore the biggest oil and gas companies in Oman. We’ll analyse the market share, impact, and notable projects of these companies.

List of Top 10 Oil & Gas Companies in Oman (2025)

Petroleum Development Oman (PDO)

Petroleum Development Oman (PDO) stands as the largest oil and gas exploration and production company in the Sultanate of Oman. The company is responsible for over 70% of the country’s crude oil output and nearly the entirety of its natural gas supply. The company operates under a joint-venture ownership structure, with the Government of Oman holding a 60% stake, while Shell plc, TotalEnergies, and Partex hold 34%, 4%, and 2%, respectively.

The largest upstream company in Oman was founded in 1937 and originated from the Iraq Petroleum Company (IPC), which was granted a 75-year concession by Sultan Said bin Taimur. Initially operating under the name Petroleum Development (Oman and Dhofar), the company rebranded to PDO following the discovery of commercial oil reserves at the Natih and Fahud fields.

The company, headquartered in Muscat, oversees a concession area covering approximately 100,000 square kilometers, which is around one-third of Oman’s total landmass. It manages around 130 producing fields and nearly 6,000 active wells, making it one of the most operationally extensive entities in the Middle East.

PDO has also begun aligning with Oman’s Energy Master Plan 2040, with a workforce comprising around 8,500 direct employees and over 70,000 contractors.

In May 2025, PDO, the largest oil producer in Oman, invited Expressions of Interest (EoIs) from local and international operators in the development of a potentially hydrocarbon-rich field within its sprawling Block 6 license. The company announced that a 130 square kilometre (sq km) area of land, dubbed Area A, is being offered for investment and development in the Qarn Alam Cluster, within the prolific Ghaba Basin in northern Oman.

OQ (company)

OQ, formerly known as Oman Oil Company, is a leading fully integrated global energy group headquartered in Muscat, Oman. As a wholly owned subsidiary of the Oman Investment Authority (OIA), OQ plays a strategic role in managing the Sultanate’s investments across the entire hydrocarbon value chain.

The company was established in 2019 through the consolidation of multiple state-owned energy entities, including Orpic, Oman Oil Company, Oman Gas Company, and several others. Operating in nearly 20 countries and serving more than 2,000 customers in over 80 markets, OQ maintains a wider global presence. 

Its diverse portfolio spans exploration and production (E&P), oil refining, petrochemical manufacturing, energy trading, power generation, and energy infrastructure and transportation. The company’s vertical integration enables it to manage energy assets from upstream oil and gas extraction to downstream product marketing and distribution.

In line with Oman Vision 2040 and the country’s net-zero carbon emissions target by 2050, OQ is actively investing in renewable energy and green hydrogen development. Through its subsidiary, OQ Alternative Energy, the company is supporting the nation’s clean energy transition by fostering sustainable, low-carbon technologies and international partnerships.

A major milestone came in 2024 when OQ Exploration and Production completed a USD 2 billion initial public offering (IPO) on the Muscat Stock Exchange, marking the largest IPO in the Gulf region that year.

Key subsidiaries of OQ include:

• Oman Oil Refineries and Petroleum Industries Company (ORPIC)

• Oman Polypropylene Company

• Oman Gas Company

• Oman Trading International

Oman Oil Marketing Company SAOG (OOMCO)

Oman Oil Marketing Company SAOG (OOMCO) is a leading fuel marketing and distribution company in Oman. The company was established in 2003 following the acquisition of BP Oman by Oman Oil Company. As a publicly listed joint-stock company, OOMCO operates across three primary business segments: retail, commercial, and other services.

The largest downstream company in Oman has a retail network consisting of over 130 service stations strategically located across the Sultanate. The company’s commercial division is especially robust in sectors such as civil engineering, logistics, and construction, offering tailored fuel solutions and reliable supply chains.

OOMCO's aviation fuel business commands the largest market share at Muscat International Airport, with infrastructure in place to support the airport’s ongoing and future expansions. In the lubricants segment, OOMCO markets globally recognized brands such as BP and Castrol.

In March 2025, OOMCO signed a Memorandum of Understanding (MoU) with Port of Duqm Company to explore sustainable energy solutions such as solar power systems, biofuels, and electric vehicle (EV) charging infrastructure.

Al Maha Petroleum

Al Maha Petroleum Products Marketing Company SAOG, commonly known as Al Maha, is one of the largest fuel market companies in Oman. The company was established by Royal Decree on June 22, 1993, under the directive of the late Sultan Qaboos bin Said Al Said.

Al Maha operates an extensive network of over 240 service stations strategically located throughout Oman, making it one of the largest retail fuel providers in the country. These stations supply a full range of fuels, including M-91, M-95, and diesel, and also offer non-fuel services such as convenience stores, auto services, and smart card solutions, enhancing the customer experience across its service footprint.

In the aviation sector, Al Maha is a leading jet fuel supplier at Muscat International Airport and other regional airports. Operations of the company also include retail fuel sales, aviation refueling, lubricants, and commercial fuel supply.

In April 2025, Al Maha Petroleum Products Marketing Co. SAOG announced that it has officially been awarded the ISO 27001:2022 certification, the international standard for Information Security Management Systems (ISMS).

Oman LNG

Oman Liquefied Natural Gas LLC (Oman LNG) is one of the biggest producers and exporters of liquefied natural gas (LNG) in the Sultanate of Oman. The company was established by Royal Decree in 1994 under the directive of His Majesty Sultan Qaboos bin Said Al Said.

The company is headquartered in Muscat with production facilities located at Qalhat near Sur in the South Sharqiyah Governorate. In 2013, Oman LNG merged with Qalhat LNG, integrating their operations under the Oman LNG brand. This consolidation enhanced operational efficiency, streamlined production processes, and strengthened Oman’s position in the global LNG market.

The Qalhat LNG complex operates three state-of-the-art liquefaction trains with a combined nameplate capacity of 10.4 million tonnes per annum (mtpa), enabling the efficient conversion of natural gas into LNG for international export markets.

Oman LNG's core business includes the liquefaction, storage, transportation, and marketing of natural gas, along with the sale of Natural Gas Liquids (NGLs) as valuable by-products. In May 2025, Oman LNG signed a long-term Sale and Purchase Agreement (SPA) with Vitol. According to the deal, Oman LNG will supply Vitol with 800,000 metric tons of liquefied natural gas (LNG) per year starting in January 2026.

Gulf Energy SAOC

Gulf Energy SAOC (GES) is one of the largest oil companies in Oman. The company also delivers innovative and high-quality solutions across the Middle East and North Africa (MENA) region. A subsidiary of National Energy Services Reunited Corp. (NESR), the company has firmly established itself as a trusted partner for both national and international oil and gas operators.

As one of the fastest-growing oilfield services companies, Gulf Energy offers a broad portfolio of specialized upstream solutions, ranging from cementing and casing accessories to advanced well services and drilling technologies.

In 2019, the company strengthened its local presence by inaugurating its first manufacturing facility in Oman, further demonstrating its commitment to local capacity building and operational excellence.

GES maintains strong working relationships with nearly all major oil and gas operators in the Sultanate, including Petroleum Development Oman (PDO), Occidental Petroleum (OXY), British Petroleum (BP), CC Energy Development (CCED), Petrogas E&P, Daleel Petroleum, Medco Energi, and ARA Petroleum, among others.

Internationally, the company serves leading players such as Saudi Aramco (Saudi Arabia), Sonatrach, and Kuwait Oil Company, extending its service footprint beyond Oman’s borders.

Energy Development Oman (EDO)

Energy Development Oman (EDO) was established in December 2020 under Royal Decree 2020/128. Aligned with Oman Vision 2040, EDO serves as a cornerstone in the country’s roadmap toward economic diversification and energy transition, with a particular emphasis on both hydrocarbons and alternative energy development.

EDO is uniquely positioned as both an investor and operator across a range of energy assets. It owns a 60% stake in the Block 6 Oil Concession, which is the largest oil-producing area in Oman, currently generating approximately 650,000 barrels per day.

EDO holds 100% ownership of the Block 6 Non-associated Gas Concession and full control of Hydrogen Oman LLC, the Sultanate’s flagship entity dedicated to green hydrogen projects.

A core component of EDO’s strategy involves enhancing value from Petroleum Development Oman’s (PDO) vast upstream operations. PDO operates Block 6 and contributes to more than 70% of Oman’s crude oil production.

Occidental Petroleum

Occidental Petroleum Corporation (Oxy) is the largest international oil and gas company in Oman, with more than four decades of operation in the country. Oxy has more than 6 million gross acres (approximately 24,000 square kilometers) under its management. And the major upstream player in Oman is more invested in oil and gas exploration and production across multiple regions.

Oxy’s core operations are strategically distributed across several major blocks. In northern Oman, the company operates the Safah and Wadi Latham Fields in Block 9, the Khamilah Field in Block 27, and the Muradi Huraymah gas plant in Block 62.

In central Oman, the flagship Mukhaizna Field in Block 53 represents one of the most significant onshore oil fields in the country and a benchmark for enhanced oil recovery (EOR) innovation.

Currently, Oxy is in advanced talks with the Omani government to extend its contract for Block 53 by 15 years to 2040, the company confirmed during its Q1 2025 earnings call.

The proposed extension is expected to unlock over 800 million barrels of additional resources across stacked pay formations, enhancing long-term cash flows.

bp Oman

bp Oman, a subsidiary of the global energy giant bp P.L.C., is one of the leading international oil and gas companies in Oman’s oil and gas sector. Headquartered in Muscat, bp Oman has been operating since 2007 and serves as a key provider of support services and upstream operations in the country.

bp is the operator of Block 61, one of the Middle East’s largest tight gas developments, and holds a 40% interest. Its partners in this significant asset include Makarim Gas Development Limited (OQ) with 30%, PTTEP with 20%, and PC Oman Ventures Limited (Petronas) with 10%.

The company’s landmark project began with the launch of Khazzan Field (Phase One) in 2017, followed by the Ghazeer Field (Phase Two) in October 2020. Together, Khazzan and Ghazeer produce approximately 1.5 billion cubic feet of natural gas per day, along with more than 60,000 barrels per day of associated condensate, contributing to about 35% of Oman’s total gas demand.

The gas is delivered via Oman’s national gas grid and also supports downstream facilities such as Oman LNG, where bp has a seven-year LNG off-take agreement to purchase 1.1 million tonnes per year, starting from 2018.

Shell PLC (Oman)

Royal Dutch Shell has had a long-standing presence in Oman, playing a substantial role in the oil and gas sector of the sultanate. The company operates from upstream gas production and LNG export to downstream fuel marketing and lubricants. Shell’s operations in Oman span Shell Oman Marketing Company SAOG, a major share in Oman LNG LLC, and key partnerships such as Petroleum Development Oman (PDO).

Oman LNG LLC

Shell holds a 30% equity stake in Oman LNG LLC, making it a strategic partner in one of the country’s most critical energy ventures. Beyond its investment, Shell serves as the Technical and Commercial Adviser to the Oman LNG project. Its role includes overseeing complex logistics in the production and delivery of liquefied natural gas (LNG) to international markets such as Korea and Japan.

Shell was vital in the design and construction of the Oman LNG plant in Sur, the development of gas wells, a gas processing facility, and the establishment of a 352-kilometer gas pipeline connecting upstream sources to the LNG terminal.

In a significant recent development, Shell International Trading Middle East FZE signed a long-term off-take agreement to purchase up to 1.6 million metric tons per annum of LNG from Oman LNG from 2025 to 2034, positioning Shell as the largest LNG off-taker from the project.

Shell Oman Marketing Company SAOG

Founded in 1958 and transformed into a public limited company in 1997, Shell Oman Marketing Company SAOG is a major player in Oman’s downstream energy sector. Shell owns 49% of the company, with the remaining shares held by private Omani investors, many of whom are individual citizens.

The company manages a robust network of retail filling stations, offers a wide range of fuels, lubricants, and greases, and provides services for automotive, industrial, and marine customers across Oman.

Partnership with Petroleum Development Oman (PDO)

Shell is also a major shareholder in Petroleum Development Oman (PDO), the Sultanate’s leading oil and gas exploration and production company, which contributes over 70% of Oman’s crude oil output and nearly all of its natural gas supply. The shareholders in PDO include the Government of Oman, Shell, Total, and Partex.

Some of the largest Oman oil and gas companies include:

• China National Petroleum Corporation (CNPC)

• Eni SpA

• Masirah Oil Limited

• TotalEnergies (Total SA)

• Seven Seas Petroleum LLC

Conclusion

Oman's oil and gas sector in 2025 is characterized by stable production growth and major investments. Top oil and gas companies in Oman are building a strategic path towards natural gas and renewable energy projects. Companies are more keen to invest in the Sultanate's both mature and frontier assets.

The government's proactive licensing and partnership strategies, combined with the presence of leading international and local companies, underpin a positive outlook for the sector. The expansion of LNG infrastructure, new exploration blocks, and technological innovation are key drivers shaping Oman's energy future.

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