Oman > Legal market overview
Despite regional troubles arising out of Dubai, the ‘Arab Spring’, and volatility in global financial markets, the Omani legal market remained surprisingly robust, aided by the strength of the tourism and oil and gas sectors, and a government inclined to spending. In the first half of 2011, the Sultanate embarked on a stimulus programme that to some extent quelled foreign investor queasiness. By the middle of the year, infrastructure projects were tending to proceed, litigation remained rife and there were even fledgling signs of activity in the high-yield bond market. Inter-bank financing increased, liquidity remained good, and there is now the prospect of an influx of Islamic finance work into the jurisdiction.
International firms with an office presence in the jurisdiction include Curtis, Mallet-Prevost, Colt & Mosle LLP; DLA Piper Oman LLP; SNR Denton; and Trowers & Hamlins. Each was in a position to report a solid year.
In terms of local firms with Western-style management, Al Busaidy, Mansoor Jamal & Co and Said Al-Shahry Law Office remain the best ports of call.
Of the international firms active in the market but without a presence on the ground, Clifford Chance and Allen & Overy LLP remain among the most prominent.
Shearman & Sterling LLP has broadened its involvement in Oman, while retaining core strength in the power and IPP sectors. Its recent portfolio of work includes significant construction arbitrations, a large M&A deal and sophisticated debt capital markets work. Tim Pick and James Comyn are the main contacts.
Cleary Gottlieb Steen & Hamilton LLP is also highly recommended, for its private equity work.