It’s not a matter of if, but rather a matter of when: How will your projects be affected when oil dips below $36/barrel?
Just twenty years ago, the Omani government launched Vision 2020: a development program to bring unparalleled economic growth to the region. As such government entities such as Oman Rail, SEZAD, and OMRAN plan to execute mega projects like the National Railway Project, New Duqm Town, The Wave, SBJ and more by 2020, bringing over $50 billion in construction projects to Oman.
With such an ambitious pipeline of projects, Oman is bound to be a global leader in economic expansion and infrastructure transformation, proving to the rest of the world it’s as attractive of a tourist destination as its GCC neighbors.
But many of these projects – which are either up for tender or already underway – may come to a quick halt – even as soon as Q3 of 2016. As oil continues to collapse, economists and Omani project managers have their eyes on one number: $36. If the price of oil falls below this number – the figure at which the Sultanate produces oil – then energy subsidies will cease to exist and Omani project owners and contractors will be forced to cut costs to avoid a dry season in the second half of 2016.
Hence, if contractors want to see a positive line in 2016, 2017, and beyond, they’ve got one of two options:
Either embrace lean construction or get involved in these mega projects now – before it’s too late.
- Lean Construction Methods: Understand how to cut costs now…before the price of oil hits rock bottom in order to avoid negative bottom lines and unhappy clients
- Omanisation: Learn how you can comprise your entity of at least 35% Omanis in order to adhere to strict governmental standards
- Project funding: Is the Sultanate ready for public private partnerships? Establish different project financing protocols in order to secure more funding and turn higher profits
- Telecommunication implementation: Establish the work of the newly formed Oman Broadband Company and understand their standards in order to better employ fiber optics and service lines on your roads projects
- Project Spotlight: Hear from major stakeholders on National Railway Project, New Duqm Town, The Wave, SBJ, and more in order to get involved in these operations as well as future similar projects
What our past attendees have to say:
Well organized and good speakers, will recommend this to other colleagues.Head Infra Business, L&T
I would like to thank IQPC for organising such a great event. Good program, wonderful location, interesting topics, good speakers. One of the best conferences I have ever been toSenior Vice President, Business & Technology Development, Saipem
The Summit helped gain insight into the Omani Market and addressed issues that would certainly be useful for people in the industry. It was a great way to network and covered key aspects of major projects, infrastructure and urban planning to name a few.GLOREI
It was wonderful, rich, en lighting experiment I would love to repeat it.Al Hassan Engineering Company
The event is excellent for networking as the participants are from different backgrounds and delegates were given enough opportunity to raise their questions.Chief Executive Officer, Teejan Trading & Contracting
The Summit gave me a very good insight of the construction needs in Oman and the amount of construction material to be used.Marketing Manager, Oman Cement Company
The event was excellent, well organized and the objectives were achieved by obtaining experience from experts in construction, building, and infrastructure.Director of Projects, Ministry of Regional Municipalities & Water Resources
Well managed; interesting topics.Associate, Clyde & Co LLP
The event was even better than I expected. Normally you find less contractors at these events, you managed to invite and bring the right people.Delivery Manager, TAV Construction
Comprehensive coverage of construction activities and projects in OmanManager, Bank Muscat