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Oman’s Ministry of Energy and Minerals has announced the offering of five concession areas in the oil and gas sector for competitive bidding to local and international petroleum companies

The five concession areas are distributed across a wide geographical area and have significant geological potential, according to the Ministry. They are as follows:
· Blocks 12 and 16: Located in the “Greater Barik Area” in central Oman, covering areas of 5,050 sq km and 4,496 sq. km respectively.
· Block 55: Located in the “Eastern Flank Province”, spanning an area of 7,564 sq. km.
· Blocks 42 and 45: Located in the “Sharqiyah Sands Basin” and surrounding areas, with Block (42) covering 30,682 sq. km and Block (45) covering 5,483 sq. km.

The Ministry explained that the application process goes through several stages, including reviewing the available opportunities, registering and submitting the required documents, obtaining the technical data, and then submitting proposals through the designated platform before the deadline. Companies interested in participating can review the tender details through the tender website via the QR Code. Registration will commence on 12 April 2026 and continue until 30 September 2026, with results to be announced following the completion of the technical and financial evaluation of the submitted bids.

The Ministry affirmed that the bid round is part of its ongoing approach to enhancing the investment environment and improving transparency, thereby contributing to attracting quality investments, strengthening international partnerships, transferring modern technologies, and maximising the added value of the oil and gas sector, while supporting sustainability and enhancing the sector’s contribution to the national economy, in line with the objectives of Oman Vision 2040.

The launch of the bid round follows the signing of a concession agreement in February between Oman's Ministry of Energy and Minerals and a joint venture of OQ Exploration and Production and Malaysian group Petronas for offshore block (18) in the Sea of Oman covering a 21,000 sq km area, which offers significant frontier exploration potential across diverse geological settings, from shallow to ultra-deep water.

Oil investment is set to decline for a third consecutive year, while natural gas investment is projected to rise to the highest level in a decade, according to the 2026 edition of the IEA’s annual World Energy Investment report

Despite higher oil prices, oil investment is expected to fall below US$500bn, as uncertainty over the duration of the price spike, long project lead times, supply chain constraints and tighter offshore rig markets limit spending outside the Middle East.

Global upstream investment is expected to rise marginally in 2026, with declines in the Middle East and North America offset by increases mainly in Central and South America and Africa, but new refinery investment is expected to fall to decade-level lows.

At the same time, natural gas investment is projected to rise to US$330bn, supported by a wave of new LNG export projects, particularly in the USA and Qatar. LNG investment is expected to more than double in 2026 compared with 2025 as more than 230 bcm of projects advance toward peak construction.

The report highlights that the impact of the conflict in the Middle East and the effective closure of the Strait of Hormuz is prompting countries and companies to reshape energy investment strategies with a focus on security and diversification, particularly in Asia and the Middle East.

The report projects that total global energy investment will reach US$3.4 trillion in 2026, a slight increase year-on-year. Around US$2.2 trillion is expected to go to grids, storage, low-emissions fuels, nuclear, renewables, efficiency and electrification in 2026, while around US$1.2 trillion is set to be invested in oil, natural gas and coal.

Electricity and diversification drive spending

Electricity and diversification are driving growth in energy spending with countries seeking to respond to the second energy crisis in five years with new routes and domestically available resources. There is a growing focus among fuel-importing countries on domestic energy sources including renewables, nuclear power and, in some cases, coal. Investment in renewable power projects is expected to total around US$665bn in 2026, with US$365bn going toward solar alone. Nuclear investment is continuing its resurgence, exceeding US$80bn annually, with close to 80 gigawatts of new nuclear capacity under construction across 15 countries.

Coal investment, meanwhile, is also set to rise to US$180bn in 2026, the highest level since 2012, with China accounting for almost 70% of global coal supply spending. The report notes that some Asian countries may seek to keep existing coal-fired power plants operating for longer to bolster energy security.

Electricity-related investment remains a dominant theme. Investment in electricity supply and infrastructure is expected to reach nearly US$1.6 trillion in 2026 with spending on electricity grids projected to approach US$550bn, up nearly 20% year-on-year, while battery storage investment is set to exceed US$100bn.

The electricity demands of the rapid expansion of data centres and artificial intelligence are also becoming a major influence on energy investment trends in some markets, particularly in the USA. Orders for new gas-fired power plants reached a 25-year high in 2025, with data centre needs playing a significant role.

The report highlights an increased focus on energy efficiency as a result of the crisis, although there are plenty of gaps that need to be filled.

The report notes that the Middle East conflict is impacting the availability of finance for future energy projects, triggering volatility within financial markets, slowing investment decisions in the short term and pushing up long-term financing costs. This could disproportionately affect capital-intensive energy technologies, the report warns, particularly in emerging and developing economies where financing costs are already significantly higher than in advanced economies.

“We are in the midst of the largest energy security crisis the world has ever faced – and I believe this will reshape investment strategies globally, with parallels to the major changes the energy world witnessed after the oil shocks of the 1970s,” said IEA executive director Fatih Birol. “We are already seeing intensified efforts by both producer and consumer countries to diversify trade routes and energy sources – such as advancing new pipelines and other supply infrastructure, on the one hand, and turning more to domestically available resources, on the other. These range from renewables and nuclear to coal, oil and gas, in some cases – as well as broader measures to strengthen electricity systems, expand electrification and accelerate energy efficiency.”

As the Uganda National Oil Company aims to build a crude refinery, it has reached out to a unit of global commodities trader, Vitol, for a US$2bn loan to support the project alongside construction and infrastructure developments

According to Henry Musasizi, Uganda's junior finance minister, this seven-year tenor loan from Vitol Bahrain EC (VBA) comes with an interest rate of 4.92%. The minister worked on advancing the approval process for the credit line and the loan, which involved significant lawmakers, who sanctioned the development with a majority verdict.

Musasizi said that Vitol's support "presents an opportunity to access non-traditional financing to implement. ..projects and support the government in developing national infrastructure."  

Vitol Bahrain EC has a long-standing presence in Uganda's downstream sector, functioning as the sole supplier of refined petroleum products to UNOC, before the state-owned company sells it to retailers across the country.

Alongside the refinery, the loan amount will also be covering road construction, a petroleum products storage terminal and extension of a petroleum pipeline from western Kenya to Uganda's capital Kampala.

Previously, the UNOC also concluded a deal with the UAE-based Alpha MBM Investments, whereby a domestic refinery with a capacity of 60,000 barrels per day is in the pipeline. The agreement accords 60% stake on the refinery to the UAE firm while UNOC retains 40%.

Uganda is looking to begin commercial oil generation starting next year from fields in its west.

A new report from AVEVA, a global leader in industrial software, and the International Institute for Management Development (IMD) discusses what makes digital ecosystems succeed

Based on a global survey of 275 senior business leaders across 12 industry sectors and 19 expert interviews, the inaugural Industrial intelligence Report on Digital Ecosystems and the Future of Connected Industries explores how organisations can harness their industrial intelligence to build, orchestrate and scale business ecosystems that create value, and highlights the main barriers to success.

Increasingly, organisations are seeking to construct digital ecosystems to address business challenges, whether that is innovating faster, navigating supply volatility, or decarbonising complex global operations. Such ecosystems – networks of independent but interdependent organisations that interact through shared digital infrastructure, shared data and co-ordinated decision making – create value that no single organisation could produce alone. Digital ecosystems are delivering measurable operational value in areas such as customer experience, commercialisation speed and ecosystem-wide automation.

Yet, as the research shows, the gap between digital ecosystem ambition and execution remains wide. Where ecosystems are working, companies are realising tangible value through harnessing their industrial intelligence. But the barriers to success remain challenging, spanning the areas of corporate strategy, governance, and technology.

In a fireside chat at AVEVA World in Milan, where the report was launched, AVEVA CEO, Caspar Herzberg spoke about the findings with Michael Wade, director of IMD Global Center for Digital and AI Transformation and Professor of Strategy and Digital, IMD.

Importance of data sharing and good governance

Professor Wade highlighted that the two key factors posing challenges were data sharing and governance, both of which are critical for value to be created, delivered and captured.

While 74% of leaders surveyed consider digital ecosystems a top strategic priority, only 27% report sharing data substantially or extensively with ecosystem partners, and only 9% have achieved joint, integrated cross-organisation data governance.

“The more data was shared, the more value was created, but at the but at the same time, paradoxically, we saw a quite a large reluctance to share data,” Professor Wade said.

Discussing the importance of setting up good governance, he commented, “Poor governance or lack of governance reduces value. Those organisations that had set up strong joint governance celebrated value in their digital ecosystems.” Governance maturity is strongly associated with ecosystem value, the report shows.

Ai is widespread but shallow, according to the findings, with only 3% treating it as a core platform capability. Infrastructure constraints, rather than trust or regulation, represent the main barrier to AI deployment in ecosystems.

Several illustrative case studies also emphasise the gap between ambition and execution: integration complexity, legacy systems and weak governance. Most organisations are investing in digital ecosystem strategy while underinvesting in the operational foundations that make ecosystems work.

The report concludes that organisations most likely to lead the next phase of digital ecosystem development will be those that solve the fundamental problems that currently prevent ecosystems from delivering on their promise: governance structures aligned across partners, deeper data sharing and the capability to collaborate broadly across diverse partner types.

Herzberg explained, “With this collaboration with IMD, our ambition is not merely to understand the motivations behind the move to digital ecosystems, but to define the frameworks, competencies and leadership practices that will concretely enable companies to transcend silos and build more adaptive, ecosystem driven operating models.”

“Governance, integration and learning matter more right now than algorithms. Ecosystems are already delivering operational value. The next phase is about converting that foundation into strategic advantage through better data sharing, coordination, clearer roles and more deliberate leadership... Industrial sectors have decades of experience collaborating out of operational necessity. What is changing is that data, AI and connected platforms are turning those collaborations into real time, intelligence driven systems,” commented Professor Wade.

In the oil and gas industry, where every second counts and every decision impacts profitability and safety, robust security is not just a luxury – it's a necessity

From protecting critical assets to safeguarding human lives, security systems must meet the highest standards of reliability and performance.

Pelco, a leader in video security, is uniquely positioned to address the challenges faced by oil and gas companies in the Middle East, offering a fresh perspective on how to optimise security systems seamlessly. With our upcoming online event, we invite you to explore how Pelco can help tackle worker safety, asset protection and operational efficiency in this complex industry.

Addressing oil and gas challenges head-on

Oil and gas operations in the Middle East span harsh deserts, sprawling refineries and high-risk offshore environments. Physical, environmental and digital threats are converging, and security systems must evolve to meet these overlapping demands. Our upcoming online event will focus on three critical areas where Pelco's expertise can make a difference:

1. Improve worker safety and HSE compliance

Ensuring worker safety is both a moral responsibility and a regulatory imperative. Health, Safety and Environmental (HSE) compliance is a top priority for oil and gas operations. Pelco's advanced portfolio is designed to help you meet these standards.

Edge-based analytics and intelligent video security can be valuable tools in supporting site safety. These systems can help detect safety incidents, such as slips or falls, especially in areas where oily surfaces, heat or dust create additional hazards. When incidents occur in remote areas, automated detection can prompt faster intervention, thereby closing the gap between the event and the response.

Personal Protective Equipment (PPE) compliance is another key safety concern. High temperatures in the Middle East can lead to discomfort, and in some cases, workers may be tempted to remove protective gear, such as hard hats or vests, for temporary relief. In this case, AI-enabled video analytics can help identify instances of non-compliance, enabling safety teams to address the issue before it becomes a liability.

Zone-based behavioural analytics can help detect when someone enters a restricted or hazardous area or remains in a dangerous zone longer than necessary. For example, loitering detection near flare stacks or storage tanks can support situational awareness and proactive incident mitigation.

2. Improve security and asset protection

From refineries in the desert to offshore rigs in corrosive marine environments, your assets operate under pressure, so your security systems must withstand these harsh conditions. In areas where explosive gases or dust particles may be present, even basic equipment can pose risks. That’s why choosing video solutions built for hazardous environments is critical.

ExSite Enhanced cameras, featuring 316L stainless steel construction and certifications such as ATEX and IECEx, are designed for use in hazardous atmospheres. Whether it’s observing pipeline manifolds, wellheads or chemical storage areas, these systems deliver dependable performance in high-risk environments. In corrosive coastal locations, such as LNG terminals or offshore rigs, Pelco’s anti-corrosion models withstand salt spray, humidity and chemical exposure without compromising visibility.

For perimeter defence, long-range Silent Sentinel cameras give security teams early warning of approaching threats, detecting vehicles, vessels or drones from kilometres away in fog, darkness or dust. These systems are especially valuable for remote desert pipelines or unstaffed offshore installations, where rapid detection is critical to prevent disruptions.

3. Minimise downtime and maximise uptime

Every minute of downtime impacts revenue. For oil and gas operations, the cost of unplanned outages is measured in millions of dollars. With Pelco, your video security can become an operational asset.
Radiometric thermal cameras can detect overheating in transformers, compressors and electrical panels, allowing teams to take action before equipment failure occurs. At the same time, Pelco’s camera image health analytics help ensure your video infrastructure is always performing at its best. Our cameras automatically detect issues such as lens obstructions, misalignment or tampering, reducing the need for manual inspections and helping ensure your security coverage is always clear, optimised and ready when it matters most.

Join us to discover the Pelco advantage

We invite you to join our upcoming online event, where industry leaders and Pelco experts will dive deeper into these challenges and solutions. Together, we'll explore how Pelco can be the missing ingredient to supercharge your security and drive operational excellence in the Middle East oil and gas sector.

Don't miss this opportunity to gain actionable insights and position your operations for success. Register now and discover how Pelco can transform your approach to security.

The Middle East and North Africa (MENA) is set to become the world’s largest hydrogen exporter by 2060, while maintaining a dominant position in global oil and gas markets, according to DNV’s Oil & Gas Decarbonization in the Gulf Region report

The report highlights how Gulf Cooperation Council (GCC) countries are cutting the emissions intensity of their core oil and gas production while continuing to play a central role in global energy supply, presenting a picture of a region approaching the energy transition from a position of confidence and capital strength. Reductions in emissions intensity are occurring alongside continued hydrocarbon production and investment across renewables, electrification, hydrogen, methane abatement, digitalization, and carbon capture.

Since 2005, the GCC has produced nearly 18% of global oil and gas, a share expected to increase as investment continues in low-cost, advantaged resources. As global energy demand increasingly shifts toward Asia, the region’s location and cost competitiveness strengthen its position as a preferred supplier. At the same time, decarbonization measures are becoming an integral part of long-term competitiveness.

“The global energy transition will not progress at the same pace across regions, nor will it follow a single pathway,” said Brice Le Gallo, vice-president & regional director for Southern Europe, MEA & LATAM, Energy Systems at DNV. “In the Middle East, oil and gas remain central to economic stability and global energy security. The key challenge is to reduce their emissions footprint while accelerating investment in the technologies needed for a lower-carbon energy system.”

Electrification is being used to cut Scope 2 emissions from pumps, compressors, and offshore facilities, through grid connections, renewable power, and hybrid solutions. These efforts are supported by energy-efficiency measures and the use of digital tools and artificial intelligence to optimise drilling, reservoir management, and asset operations, reducing energy intensity and emissions per barrel produced.

Methane reduction remains one of the most immediate and cost-effective options for lowering emissions. Across the GCC, routine flaring is planned to be phased out by 2030 and leak detection and repair (LDAR) programmes are increasingly standard. National oil companies are also aligning with international methane initiatives, enabling continued production growth while reducing methane intensity in line with national net-zero targets.

GCC countries are realigning domestic energy systems to reduce oil and gas use domestically and free up volumes for export and low-carbon fuel production. Growth in renewables, electrification of transport and buildings, and efficiency gains are driving this shift. Investment in downstream industries, petrochemicals, and low-carbon fuels is also changing export profiles, moving beyond crude oil toward higher-value and lower-carbon energy products.

With access to low-cost natural gas, strong solar resources, and established industrial and export infrastructure, the region is well placed to scale both low-carbon hydrogen (produced from natural gas with carbon capture) and renewable hydrogen produced through electrolysis. By 2060, the Middle-East and North Africa region is projected to produce around 19 million tonnes of hydrogen and 13 million tonnes of ammonia per year, exporting about 50%, mainly toward Europe and advanced Asian economies.

“Hydrogen, ammonia, and carbon capture are becoming core elements of the GCC’s energy export model,” said Jan Zschommler, market area manager for the Middle East, Energy Systems at DNV. “As emissions requirements tighten, access to international markets will increasingly depend on carbon intensity. Integrating hydrogen production with renewable power, carbon capture, and existing industrial clusters allows the region to remain competitive while meeting these requirements.”

Carbon capture, utilization and storage (CCUS) is also set to grow. In January 2026, the UAE's Supreme Council for Financial and Economic Affairs has introduced Carbon Capture Policy as a further commitment to meeting their carbon reduction targets. Captured CO₂ volumes (including CO₂ removal) are expected to reach around 250 million tonnes per year by 2060, equivalent to roughly 8% of regional energy-related and industrial emissions.

Bioenergy with carbon capture (BECCS) and direct air capture (DAC) combined are expected to remove around 81 million tonnes of CO₂ per year by 2060, helping to offset emissions from sectors that are more difficult to decarbonise.

The full report is available at https://www.dnv.com/energy-transition-outlook/oil-and-gas-decarbonization-in-the-gulf-region/