According to the EIA, Oman has been recognised as the largest producer of oil and natural gas outside of the OPEC member countries
Oman’s oil production has been on a steady rise since 2007; it is currently placed at No. 7 among the Middle East oil producers and the 21st in the world as of 2014 (most recent full year data).
Oman has been recognised as one of the most important exporters of crude oil outside of the OPEC and almost all of the country’s exporters are destined for Asia. In 2014, Oman exported an estimated 800,000 bpd, or 80 per cent, of its crude oil and condensate production, of which 72 per cent went to China.
Oman’s hydrocarbon sector, which includes crude oil, natural gas, and other liquid fuels, accounted for 84 per cent of government revenue and 47 per cent of the country’s GDP in 2014.
There is optimism over Oman’s future production growth as well given the continued use of EOR techniques and several recent discoveries.
