Oman State-Owned Enterprises Guide

Oman’s state-owned enterprises (SOEs) play a dominant role in the national economy, operating across energy, logistics, telecommunications, and industrial sectors. Under Vision 2040, the Oman Investment Authority (OIA) was established to consolidate and strategically manage the state’s commercial assets while pursuing privatisation of non-strategic holdings.

Key Facts

Oman Investment Authority

OIA was created in 2020 by merging the State General Reserve Fund, Oman Investment Fund, and numerous government-owned companies under a single entity. OIA manages the state’s commercial portfolio with a mandate to maximise returns, improve governance, and pursue strategic investments aligned with Vision 2040.

Energy Sector SOEs

OQ Group is Oman’s integrated energy company operating across exploration, production, refining, petrochemicals, and marketing. Petroleum Development Oman (PDO), a joint venture with Shell, is the largest oil producer. Oman LNG processes and exports liquefied natural gas from the Sur facility.

Logistics and Transport

ASYAD Group manages port operations, shipping, logistics, and dry dock facilities. Oman Air and SalamAir provide national and low-cost air services. Oman Rail is developing the national railway network.

Telecommunications

Omantel, majority government-owned, is the incumbent telecommunications provider offering fixed, mobile, and broadband services. The company also holds a stake in Pakistan’s PTCL and other regional assets.

Privatisation Programme

The government is pursuing partial privatisation through IPOs on the Muscat Securities Market. Recent and planned offerings include ASYAD subsidiaries, OQ subsidiaries, and electricity generation companies. Privatisation aims to improve efficiency, deepen capital markets, and raise fiscal revenue.