“Through Petroman, I am honored to be participating in the economic growth of the Sultanate of Oman. No other region has as modern or as organized an infrastructure, manpower, banking capabilities or export facilities as has Oman.
H.M. Sultan Qaboos Bin Said Al Said has encouraged new business in the Sultanate, as demonstrated in the increase of the Omani GDP, growing foregin investment via an influx of new entity interests, PetrOman being one of them.
The last 42 years under His Majesty, the Sultan’s rule have also witnessed strong economic growth, due in no small part to the oil and gas sector. This year, the government expects to receive $22.8 billion in revenues, nearly 70% of which will stem from oil sales and another 12.5% from gas exports. Nevertheless, Oman is joining the ranks of many other oil states in the pursuit of a more diversified economy. By 2020, the Sultanate plans for the oil sector to contribute just 9% to the total gross domestic product (GDP), which grew by a healthy 5.5% last year alone, reaching $71.89 billion.
As per the Ministry of Finance, more than $17.9 billion has been allocated to new projects to date. These include the building of 5 hospitals, 29 schools and the Al Batinah Expressway, as well as allocations for new infrastructure builds on the Samail, Ibri and Duqm industrial estates and for the implementation of scientific research and information projects.
Sultanate of Oman, it’s a perfect business environment.”
Patrizio Di Guevara Fabbri, CEO