Introduction

In a strategic move to cement the energy sector’s role in Oman’s economic future, the Ministry of Energy and Minerals has launched the second edition of the Majd Award for Local Content. This initiative is far more than a corporate recognition program—it represents the vanguard of a national effort to capture economic value locally, empower Omani enterprises, and build resilient supply chains for the Sultanate’s most critical industry .

What is the Majd Programme?

The Majd programme, led by the Ministry of Energy and Minerals, is designed to maximize the economic opportunities associated with Oman’s energy and minerals sector. Its core mission: increase the participation of national competencies, local services, and products manufactured in Oman, while stimulating local investments in industrial assets and projects .

The programme operates on a simple but powerful premise—every rial spent on energy development should create ripples of economic benefit within Oman, rather than flowing overseas.

The Staggering Results So Far

Since its inception, the Majd programme has delivered results that command attention:

• $34 billion in economic value retained within the Sultanate of Oman 
• 100+ new industrial facilities and workshops established 
• 31.7% increase in the local content index 
• 93% job localisation rate among operating companies in the oil and gas sector 

These figures demonstrate that local content is not just a policy aspiration but a tangible economic engine. The doubling of local content in direct spending by 2021 represents billions of rials redirected to Omani companies and workers .

What’s New in the Second Edition?

The 2026 Majd Award features four main categories designed to spotlight different dimensions of local content excellence :

The Ministry has invited companies and institutions operating in the sector to apply, with nominations accepted until April 9, 2026. Winners will be announced during Oman Sustainability Week and the Oman Petroleum & Energy Show .

Why Local Content Matters Now

The launch of the second Majd Award coincides with the commencement of Oman’s Eleventh Five-Year Development Plan (2026-2030), which targets an economic growth rate of approximately 4 percent. The plan identifies manufacturing industries as a core sector for expansion, with a targeted growth of 5.9 percent .

Local content programmes like Majd directly support this vision by :

• Empowering national companies to compete for energy sector contracts
• Strengthening local supply chains to reduce import dependence
• Encouraging innovation in industrial capabilities
• Building human capital through skills development and training

Industrial Achievements Worth Noting

Beyond the numbers, the Majd programme has facilitated tangible industrial development. New manufacturing capabilities established under the programme include :

• Drilling equipment manufacturing
• Rig derrick fabrication
• Drilling materials production
• Pipeline platform construction

These are not low-value activities—they represent sophisticated industrial capacity that positions Oman as a regional hub for energy sector manufacturing.

What This Means for Omani Businesses

For Omani companies, the Majd programme and its associated award create a clear pathway to growth. Energy sector operators are incentivized to source locally, creating predictable demand for Omani products and services. The 100+ new industrial facilities already established demonstrate that this is a proven model .

The programme also signals a shift in how the energy sector measures success. Beyond production targets and financial returns, companies are now evaluated on their contribution to local economic development. This creates competitive advantage for firms that have invested in Omani partnerships and supply chains.

Looking Ahead: The 2026 Award Cycle

With the nomination window open until April 9, the coming weeks will see energy sector companies preparing their submissions. The award categories reflect the programme’s evolution—from simply tracking local spend to recognizing excellence in startup development, human capital, manufacturing, and corporate programmes .

For observers of Oman’s business landscape, the winners—to be announced later this year—will provide valuable signals about where local content innovation is occurring and which companies are leading the charge.

Conclusion

The Majd Award’s second edition is more than an annual ceremony—it is a milestone in Oman’s journey toward economic diversification and self-reliance. With $34 billion already retained in the national economy and over 100 new industrial facilities established, the programme has proven that strategic local content policies can transform an industry’s economic impact .

For the energy and minerals sector, Majd represents both a responsibility and an opportunity. The responsibility to ensure that Oman’s natural resources benefit Oman’s people. And the opportunity to build a globally competitive industrial base that will serve the nation long after the last barrel of oil is extracted. As nominations open for 2026, the message is clear: local content is no longer a side initiative—it is central to how Oman does business.