Duqm committed investment hits $22.8 billion, up 141% since 2021

Summary

• Committed cumulative investment in Oman's Duqm zone reached OMR8.818 billion by end-June, officials said.
• The figure is 141% above the 2021 level of OMR3.650 billion, according to Opaz.
• Duqm is central to Oman's push into refining, green hydrogen and logistics beyond crude exports.

The latest

Committed cumulative investment in the Special Economic Zone at Duqm climbed to OMR8.818 billion, more than $22.8 billion, by the end of last June, according to the Public Authority for Special Economic Zones and Free Zones. That is 141% above the OMR3.650 billion recorded in 2021. Opaz Chairman Qais bin Mohammed Al Yousef attributed the increase to a better investment environment, infrastructure build-out and incentives extended to investors over the past five years.

Details

• The headline number: Opaz put committed cumulative investment at OMR8.818 billion, equivalent to more than $22.8 billion, as of the end of June. The 2021 baseline was OMR3.650 billion, making the five-year increase 141%. The authority described the total as committed rather than deployed capital.
• The official reading: Al Yousef said the rise reflects an improved investment climate inside the zone over five years, along with the development of Duqm's infrastructure and the package of incentives offered to investors. He did not break the committed total down by sector or by individual project.
• Port throughput: The Port of Duqm posted growth across cargo categories between 2021 and 2025, according to the authority: total cargo handling up 5.66%, dry bulk handling up 3.88%, and roll-on/roll-off cargo up 8.2%. Volumes also covered containers, oil and gas field pipelines and goods required by projects inside the zone.
• The refinery: The Duqm Refinery raised its production capacity to 255,000 barrels per day, the authority said. The refinery is the single largest industrial anchor in the zone and the main reason Duqm registers on regional energy maps, though Opaz gave no figure for current utilisation rates.
• The dry dock: Duqm's Dry Dock completed roughly 1,340 projects from 2020 through the end of last year, according to Opaz. The ship repair yard sits on the Arabian Sea outside the Strait of Hormuz, a positioning Oman has marketed to operators seeking maintenance capacity away from the Gulf chokepoint.
• The pipeline: Opaz said it is working to localise further projects aligned with Oman's net-zero emissions plans and the development of the green hydrogen sector. It is also targeting tourism, commercial and logistics ventures. No timeline or committed value was announced for that next wave of projects.
• Services build-out: The authority pointed to non-industrial anchors taking shape at Duqm, including Duqm University College launching its first academic year and new health facilities at Duqm Hospital developed in partnership with OQ Group. Both are aimed at making the zone habitable for a permanent workforce rather than rotating contractors.

Background

Duqm sits on Oman's Arabian Sea coast and has been the centrepiece of the sultanate's economic diversification drive for more than a decade, combining a deepwater port, a refinery, a dry dock and an industrial zone intended to reduce reliance on hydrocarbon exports from the Gulf side of the country.

Between the lines

The gap between committed and deployed capital matters: a 141% rise in commitments signals investor intent, not completed construction, and Opaz did not disclose how much of the OMR8.818 billion has been spent. The operational indicators it did release — single-digit port growth, a refinery at 255,000 barrels per day, 1,340 dry dock projects — point to a zone whose industrial core is running while its services and green hydrogen layers remain largely prospective.

What's next

Watch for Opaz disclosure of sector-level breakdowns or deployed-capital figures, announcements on green hydrogen project awards at Duqm, and full-year 2026 throughput data from the Port of Duqm.

Source: Times of Oman via Zawya