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Oman

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Editorial

Legal market overview

Oman Power and Water Procurement Company has forecast that the country’s power needs will grow between six to ten percent annually until 2022. To meet this demand, the Sultanate has initiated several independent power projects – two are due to be completed by 2021, with an additional two to complete by 2022. However, depressed global commodities markets are causing these projects to stall. Oman also has an increasing need for water capacity, and to date has procured at least five major independent water projects.

Faltering oil and gas prices have exposed the need to diversify Oman’s economy. As the government tries to juggle its budget, law firms anticipate increased debt capital markets activity and higher demand for tourism and hospitality projects. The Special Economic Zone project in Duqm (SEZAD), which is projected to be the Middle East’s largest special economic zone and will include services and industries ranging from an oil refinery and port, to a regional airport and residential complex, is also expected to be a key driver of work.

The Oman legal market is largely dominated by a handful of full-service law firms. However, there are some international firms that remain active in the country without maintaining offices in the Sultanate; these firms include Hogan Lovells (Middle East) LLP, Clifford Chance, Shearman & Sterling LLP, Allen & Overy LLP and Linklaters.

Firms in the spotlight

Al Busaidy, Mansoor Jamal & Co
www.amjoman.com

Al Busaidy Mansoor Jamal & Co (AMJ) is a leading, commercial law practice based in the heart of Muscat’s business and financial district. As the Sultanate of Oman has developed and prospered, so the firm has evolved over the past 35 years into Oman’s largest legal practice, top-ranked for its work in banking and finance, corporate/commercial and dispute resolution work. The firm has a track record of delivering high-quality legal services in both domestic and cross-border transactions to international and leading local corporates, financial institutions, private individuals, and the government.

Sahar Askalan Legal Advocacy & Consultancy
www.salegal.om

SAlegal was established in Muscat in 2009 and in a short time span has emerged as one of the Sultanate of Oman’s leading corporate and commercial law firms, competing head to head with other, albeit larger, well-established law firms. SAlegal’s uniqueness lies in its unrivalled commitment to its clients to provide the highest standard of legal services with a business outlook, whether they are operating locally or globally.

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