Oil revenues were calculated on the basis of $21 per barrel, which is $3 above the price projected in the sixth Five-Year Plan (2001-2005). However, actual oil revenues from January through November totalled R02111,9 million and the revenue for 2003 will exceed that since oil prices remain buoyant, reaching $27.84 per barrel. The figure far 2004, when prices broke through the $50 a barrel ceiling, will be higher still.

The Oil Sector
The Sultanate of Oman began exporting oil in 1967 and by the end of 2001 production had reached 956,000 barrels per day (b/d).
However, by the end of 2002 production had declined to 909,000 b/d and in 2003, as a result of the decrease in productivity of several wells, output dipped to 819,200 b/d, including 62,200 b/d of oil condensates.
Oil exports totalled 763,000 b/d, 84% of which was imported by China, Japan, Thailand and South Korea. Although proven reserves of crude oil and condensates totalled 5,572 million barrels, 93% of which are owned by Petroleum Development Oman (PDO), the government and oil companies working in the Sultanate have made determined efforts to further boost production.
In 2004 two production sharing agreements have been signed so farone with Hunt Oil of the US (Block 40), and the second with the Chinese Synopec Corporation. Provisions of the latter agreement commit Sinopec to carry out geological and geo-physical assessment, to conduct a seismic survey and drill an exploratory well in the first 3- year exploratory period.
Exploration proceeded apace in 2003, with 12 oil companies working in 19 concession areas. These efforts bore fruit with PDO

Adding 122 milion barrels to Oman's proven reserves, of which 35.8 million barrels were crude oil and the remainder oil condensate. Besides Petroleum Development Oman (PDO), other major international companies exploring for oil and gas include Novus, EnCana, Anadarko, Total, Occidental, Maersk Oil and PTTEP.
Petroleum Development Oman (PDO) continues to account for 93% of Oman's oil production.
In the downstream sector, Oman Oil Refinery Company was supplied with 83,700 b/d in 2003 and work began on the Sohar Refinery projectwith the laying of the foundation stone in April 2004.
The $1 billion plant will have a capacity of 116,400 b/d of refined products with commercial operation scheduled to begin in the third quarter of 2006. Work was also started on the construction of an oil pipeline from Mina al Fahal to the Sohar refinery to supply it with its daily requirements for crude oil once it begins operations. On completion this project will add considerably to the Sultanate's production of oil derivatives, mainly for export.
In 2003 the Oman Oil Marketing Company was re-named to become the new `Oman Oil Company SAOC'. Owned 100% by the government, OOC was created in 1992 to give the government another vehicle for pursuing investment opportunities in the energy sector both inside and outside the Sultanate.
The Gas Sector
The natural gas sector is one of the most promising sectors of the Omani economy. Budgeted revenues from this sector are estimated at R095 million in 2004, a rise of 11.8% over the projected figure of 2003, although actual returns from natural gas in (he first II　months of 2003 amounted to R065 million.
Oman's confirmed gas reserves in 2003 were around 24.92 trillion　cubic feet (TCF), while its expected reserves (both associated and　non-associated) were estimated at 34.49 TCF. The daily production rate was 2334.5 million cubic feet, an increase of 7.9%r over the year 2002. A significant development was the addition of 0.4 TCF to Oman's reserves of natural gas through one well drilled by PDO. Two other gas wells were being assessed for their commercial viability- one by PDO and one by Anadarko Oman.
The Liquified Natural Gas (LNG) facility at Qalhat produced 6.6 million tonnes of LNG, of which 6.5 million tonnes were exported to

Japan, South Korea, Spain, France, Belgium, and the United States. In the meantime, work has begun on a third liquefaction train with a capacity of 3.8 million tonnes per annum which will significantly increase the Qalhat plant's production. Work on this train willfinish in 2006 and agreements have already been signed for the export of its total production.
The outstanding success of the LNG projects led to the idea of establishing a national fleet for the shipment of Omani natural gas.Accordingly a company was set up to transport liquefied natural gas in the tanker S/S Sonar, which has a load capacity of 138,000 cubic meters. A second vessel the S/S Muscat, with a similar load capacity, will be operational shortly and a third vessel will join the fleet in 2006.
Two gas pipelines were inaugurated in January 2004, the first between Fahud and Schar, followed by the link between Saih Rawl and Salalah. These two ventures represent a significant achievement in supplying the ports of Schar and Raysut with natural gas, which will be utilised by a large number of existing and planned industrial projects.
Further landmarks were achieved with the commencement of pumping of Omani natural gas from Al Madha to Al Ain in the UAE at a rate of 4 million cubic meters per day in January 2004. In August 2004 the government signed its first gas supply agreement for the supply of natural gas to a private sector gas-based industrial project through its 32" gas pipeline. Oman Methanol Company Ile, based in Sohar, will receive natural gas for a period of 25 years.
The number of plants currently utilising Omani natural gas for their operations is 17. These include the Salalah Electric Power Plant, the Raysut Cement Company, and the At Barka and Al Kamil Power Stations. This number is set to increase as further promising industrial ventures come onstream. Among these are the Sur Fertiliser Company, and Sohar's new polypropylene and chemical industries and oil refinery. These projects will help the development and diversification of Oman's economy, thus helping reduce its dependence on oil.

AGRICULTURE AND FISHERIES
Food self-sufficiency is the dream of most world nations and, Oman, no exception to the international rule, has channelled considerable resources in to boosting its own agricultural output and, as a result, recorded impressive results over recent years, achieving 93% self-sufficiency in dates and seasonal fruit production. Agriculture and fisheries are among the most important economic sectors in the Sultanate. In addition to providing the community's main source of food, the sector is entirely consistent with Oman's drive to diversify its economy. Between them agriculture and fisheries employ close to 202,825 people, more than 133,000 of whom are Omani nationals.
In 2002 the agriculture and fisheries sectors accounted for 34.2% of the value of the Sultanate's overall food production and the country was self-sufficient in some products such as dates and fish. A year later, in 2003, the agriculture and fisheries sectors contributed RO164.9 million to the country's GDP. Agricultural and fisheries exports of Omani origin accounted for RO89.2 million in 2003.

AGRICULTURE
The Sultanate had an estimated 73,000 hectares of land under cultivation in 2003 and during that year agricultural produce　totalled 1,200,000 tonnes, almost double the figure recorded in 1988.
The government provides a wide range of facilities to support agricultural production through the agricultural development centres, these include financial incentives and services including aerial crop spraying, the distribution of fertilisers and high quality seeds, the creation of model farms, and the introduction of modern irrigation systems to conserve much prized water resources.
Fruit and Vegetables
The Sultanate is now estimated to be 93% self-sufficient in dates and seasonal fruit, such as coconuts and bananas, and 64% self-sufficient in vegetables, while Omani agricultural produce accounts for 37% of total exports. The projects and advice programmes initiated by the government are designed to improve crop productivity and quality while safeguarding natural resources such as water and the　sustainability of arable land for future generations.
Apiculture
In Oman there are over 3,000 registered bee-keepers who use both　modern hives and the traditional stacked palm trunks to produce high-quality honey with its distinctive flavour. Two types of bee are　known in Oman -Apis millifera and Apis florea.

Improving Production
One result of the introduction of modern technology to improve crop production and ensure the sustainability of land and water resources has been an increase in the number of greenhouses, some funded by the government others by growers, from 440 at the beginning of the 1990s to over 1,500 at the end of 2003. Particular priority has been given to strategic produce such as dates - the Sultanate's leading　crop, which is of vital economic and environmental importance.

In this connection the government launched the national date palm improvement scheme. Date processing and packing units were subsequently set up on 74 farms and a further 35 units will be added to this number in 2004. Under the "replacement of old date palms"



project 29,258 top quality date palm seedlings were produced at the　cloning laboratory at the agricultural research station at Jimah in the Dakhiliyah Region and distributed to farmers.


Pest control programmes are a major element in crop protection and in addition to dates, these schemes give particular priority to　protecting coconut palms and citrus and mango trees.
A number of projects are committed to conserving land and water resources by subsidising modern irrigation systems and improving agricultural practices on more than 350 farms. In 2003 and 2004　some 27 protective walls were built or under construction to　protect agricultural land from erosion.

Scientific Research


The agricultural centres and research stations carry out scientific research in areas such as productivity and pest control and offer advice and guidance on farmers' problems, including insect infestation, genetic improvement programmes, the citrus improvement project (with particular reference to Omani limes) and a range of other areas.
In cooperation with Japan's International Cooperation Agency (JICA) a scheme to replant the Sultanate's mangrove groves has increased land under cultivation from 600 hectares in April 2000 to 1,000 hectares in April 2004.


Livestock

Statistics indicate that this sector is showing encouraging growth.
In 2003 it was estimated the Sultanate had around 1,843,300 head of livestock, with an annual rate of increase approaching 8.5%.
The animal production research centre and several other research stations are carrying out a range of studies on ways of improving local strains of cattle, sheep and goats and improving animal feed of local origin. The early recommendations of these studies have been adopted by the private sector and several factories are working to produce animal feeds from local raw materials, including waste products from the agricultural and fishing industries.



Camel Control
Royal Decree 8/2003 promulgating the Law on Pastures and Livestock Management gave a major boost to the national strategy for improving the natural pastures in the Dhofar governorate. This project is aimed at achieving a balance between camel numbers and sustainable pasture and will have a positive impact on preventing desertification in that Governorate. Around 95% of the region's camels, have been registered and tagged for local sale or export, thus helping conserve natural pastures.

FISHERIES
Fisheries represent the second most important sector in the national economy after hydrocarbons and provide one of the main sources of food. With its long coastline and abundant fish stocks, with care this sector should prove to yield a highly sustainable resource for domestic consumption and export. According to estimates, more than a quarter of the Sultanate's population depend in one way or another on fishing for their livelihood The sector has grown significantly over recent years; in 2002 over 142,000 tonnes of fish were caught by around 30,000 local fishermen.



Exports of Ornani fish rose by 18% in 2002. Commercial production topped 62,250 tonnes with a value of RO46.4 million - a rise of 18%. The combined total for the traditional and commercial sectors in 2002 was 142,668 tonnes with a value of RO61.15 million - a 10% rise in volume, compared with the figure for the previous year.
Development
Two fisheries training institutes are being set up - in Salalah and in Al Khabourah (on the Batinah coast) which will specialise in fishing technology and related sciences Both will have a major role to play in boosting the fisheries sector and giving young Omanis a wider range of opportunities to develop their knowledge and skills.
Fish farming is being developed and a new centre for this purpose should be operational by the end of 2005. Marketing is also being improved; fish markets are being set up in the harbours and central markets are being established in the prime fishing areas. The government will continue to build fishing harbours in the coastal regions. The traditional fishing sector will be supplemented by the launch of a new generation of medium-sized fishing vessels under the auspices of the Youth Ships Scheme, which encourages young Omanis to seek employment in the industry by providing soft loans, in conjunction with local banks, for nets, tracking devices and other equipment. The research side of the fisheries development strategy includes a study on breeding seasons, available fish stocks and methods of boosting them. Additional studies are being carried out on the management and sustainahility of existing fishing grounds, the development of fish and crustacean farming, improvements to < traditional equipment and streamlining the processing of fish products.
Private sector investment projects include fish processing factories, port services such as ice factories, marine workshops, fuelling stations, restaurants and cafes, net and fishing tackle manufa(turing, and boatyards for making modern boats, as well as projects with a tourism dimension such as dolphin watching and aquariums.

COMMERCE & INDUSTRY
Oman's people have long recognised the value of commercial links and the strategic location of their country, lying as it does at the crossroads of shipping routes between east and west. The government's aim in the 21st century is to amplify these trading relations to further integrate Oman with regional and international economies.
On the one hand, there are the regional organisations of which Oman is a member such as the Arab Gulf Cooperation Council (AGCC), the Arab Free Trade Area, and the Indian Ocean Rim States Association for Economic Co-operation; on the other hand, there is Oman's membership of the World Trade Organisation (WTO).
In addition, Oman liaises with other countries through joint committees and bilateral agreements aimed at enhancing mutual interests and achieving the nation's development objectives by opening new markets for Omani products.

A comprehensive strategy of diversifying sources of national
revenue and stimulating the role of the private sector is pursued.
Exports are supported by the offering of generous incentives to Omani
exporters while inward investment is encouraged by simplifying procedures and extending initiatives to foreign investors.
Complementing this general strategy, bilateral trade agreements - such as those signed with the Islamic Republic of Iran in July 2003 and the Republic of Belarus on 17 March 2004 - play a vital role not only in
stimulating exports but also widening the scope of economic co- operation.
In spite of regional and international uncertainties during 2001 and 2002, Oman's trade sector performed well during 2003 with a positive participation in the country's GDP, in line with the objectives spelled out in the Five-Year Plan.
Commodity exports in 2003 increased by 4.4% over 2002, to reach RO4486.6 million, and include both oil and gas exports and non-oil exports.

Significantly, in 2003 re-export operations declined by 17.3% over 2002, falling to R0600.8 million, while oil and gas exports rose by 8.3% over the previous year, to reach RO3581.7 million.
Similarly, non-oil exports increased to RO304.1 million in 2003, a rise of 16.2% over the previous year. While the increase in the value of oil exports is clearly linked to the rise in the price in international market, the increase in non-oil exports demonstrates the resilience of Oman's economy in boosting the production and export of locally- made goods.
Commodity imports rose by 9.4% in 2003, to total RO2,527 million, as against RO2309.1 in 2002. The expansion in the terms of trade-both exports and imports - is testament to the growth of Oman's trade sector and the increasing activity of its ports and also reflects the success in promoting locally-made products by the Omani Centre for Investment Promotion and Export Development (OCIPED).
A series of recent legislative moves have cut through much of the red tape that previously existed and these, together with an increase in the productive capacity of local industries, have contributed to stimulating the trading sector and increasing the export potential of Omani goods, which currently reach 80 countries worldwide.
The United Arab Emirates is Oman's top trading partner, accounting for the majority of the country's non-oil exports (and re- exports) as well as its imports. Non-oil commodities are also exported to a number of countries including the Kingdom of Saudi Arabia, the United States, the Hashemite Kingdom of Jordan, and Kuwait, while Oman's imports originate mainly from Japan, the United States, the
United Kingdom, and Germany among others. Oman's primary
exports include textiles and textile products, livestock and livestock products, fish, minerals, plant products, equipment and electrical machinery, foodstuffs, and chemical products.
Industry
The industrial sector is one of the Sultanate's burgeoning economic areas.
Both 2003 and 2004 witnessed strong growth in medium and small-scale industries and especially those utilising natural gas.
There has also been considerable expansion in the role of information technology.

While the pioneer Rusayl Industrial Estate continues to attract industries (currently totalling 137 enterprises), September 2003 marked the launch of the Knowledge Oasis Muscat (KOM), which is projected to become the linchpin of Oman's information technology industry. The Sultanate's other industrial estates, especially those in Sur, Sohar and Raysut continue to draw heavy and processing industries as we] I as other feeder industries and it is these areas which are scheduled for growth, following the connection of Sohar and Raysut Industrial Estates to the natural gas network in January 2004.
Other significant projects include the expansion of the Liquefied Natural Gas facility at Qalhat with the addition of a third production train, which will have the effect of boosting capacity by 3.8 million tonnes per annurn, increasing the current production level of 6.6 million tonnes per annum by 50%, the R0373 million Oman-India Fertiliser Project in Stir, implemented in October 2003 and the Sohar International Urea and Chemical Industries plant (R0250.25 million).
In April 2004, the foundation stone was laid for the new Sohar Refinery (RO500.5 million) and the Oman Polypropylene Project (RO88.5 million).
Oman Pharmaceutical Products Co, a RO2.5 million facility, was inaugurated in January 2004 at Raysut Industrial Estate and in September launched its corporate brand "Zynova". It expects to gain official registration to enable its products to be marketed in the entire AGCC later this year. Salalah Container Port too is currently undergoing expansion. The development of Sohar Industrial Estate Port continues to forge ahead. This ambitious and innovative project will serve Sohar-based heavy industries and boost commercial activity right across the country. The siting of large numbers of small and feeder industries in the vicinity of large-scale industrial enterprises will also boost job opportunities for Omani nationals. These ventures are being financed by domestic and foreign private capital with limited participation by the government and demonstrate the high levels of investor confidence in Oman and the investment opportunities it offers. A remarkable achievement in the previous year has been the 13.9% increase in the proportion of GDP of the processing industries, compared with their ratio in 2002, with this sector contributing a total value of RO685.1 million. As part of the ongoing development of the e-commerce and digital technology in the Sultanate, Knowledge Oasis Muscat (KOM) was established in the Rusayl Industrial Estate, and inaugurated in September 2003, as a multi-disciplinary IT park. In May KOM was awarded the Public Service Initiative of the Year Award, sponsored by OCIPED. KOM covers a 68 hectare site with its offices spreading over 12,000 square metres. As at mid-2004. KOM incorporated 20 local and foreign companies, in addition to three information centres. There are a further six companies enrolled in The Knowledge Mine (TKM) project, an international enterprise that provides a platform for the convergence of state-of-the-art office facilities, finance and business mentoring services. TKM is an exceptional new incubator facility capable of housing up to 35 fledgling companies in a secure and supportive environment at KOM. Its mission is to grow knowledge and technology based business and create the next generation of strong companies and business leaders. A total of R08.7 million in government loans were agreed in 2003 for development projects. The granting of these loans on easy terms brings the total of the government's outstanding loans to 80158,860,300 up to the end of 2003.
His Majesty the Sultan's cup for the best Omani industrial enterprise was launched as an incentive to improve product quality as well as raise the level of Omanisation in industry. Meanwhile, the government also conducts surveys into those companies that have under-performed and offers advice to help improve their performance. At the end of 2002, there were 862 industrial enterprises operating in the Sultanate, employing a total of 34,242 workers.
TOURISM
Oman is a country of enormous diversity and natural beauty, which, while it has much to attract the discerning traveller, had until recent years been largely overlooked by international tourists. The government was anxious not to promote the Sultanate to tourists until it was ready to accommodate them. Now, with an enviable infrastructure securely in place, a wide range of international hotels and a wealth of things to see and do, Oman is ready to offer its traditional hospitality to visitors from around the world. By the end of 2002, the number of hotels and hotel apartments in the country stood at 124 and 6,078 respectively. Some 1.1 million visitors, who together spent a total of 3.9 million nights in Oman in 2002, spent an estimated R092 million. Work on developing further facilities has been constantly ongoing. Indicative of the importance the government affords this sector was the issue of Royal Decree No. 61/2004, establishing a Ministry of Tourism and appointing a woman as its minister.

Mega projects underway
There has been an emphasis on larger-scale projects with high revenue yields such as the Barr At Jissah Resort and the Seeb Seafront Resort Development Project (The Wave). o The Wave, costing R0305 million, will stretch along 7.3 kms of pristine beach area just west of Muscat. Waterfront Investments (WI) representing the Sultanate's government, national pension funds (represented by NIFCO) and the State General Reserve Fund have agreed to team up with a private investor from the UAE to form a joint venture company to launch the first phase. The first phase will involve land reclamation, the building of the infrastructure and the construction of certain landmarks such as the 18-hole PGA golf course and a marina with a yacht club. Luxury hotels, exclusive villas and condominiums of the resorts overlooking the Gulf of Oman will be constructed in phase two.
The Barr al Jissah project has generated a lot of excitement in the international press. It is located 45 minutes from Scab International Airport and this resort is expected to cost approximately R085 million in total. The government is participating with 4090 of the equity capital while 60% is provided by a leading private sector business group. The prestigious Shangri-La Hotel Group will operate this complex of three different hotels comprising 683 rooms: 'Al Husn', an ultra luxurious hotel with its own private beach. `Al Bandar', a deluxe five-star hotel, and the four-star hotel, Al Waha'.
Airports development
In order to keep pace with the increase in tourist numbers, a new terminal will be operational at Seeb International Airport by 2006. The new facility will be capable of handling an additional 6.5 million passengers a year and has been designed to blend Omani tradition with 21st century airport facilities. Plans for the further development of Salalah airport are also being reviewed. Studies for a new airport at Ras al Hadd, about 40km away from Sur and 335km from Muscat, are also under consideration. The area, famous for its turtle breading beaches, is also a significant gateway to the eastern area and would be expected tp provide a significant boost to trade and tourism in the area
Investment
Domestic and foreign investors have responded positively to government initiatives to establish public-private sector partnerships in schemes such as the Barr al Jissah and Wave projects. With international travel companies worldwide hotly tipping Oman as the next "must see" holiday destination it is not difficult to understand their enthusiasm. An ambitious multi-pronged strategy aims to double tourist arrivals and the size of the tourism economy by 2010. Tourist locations have also been selected and offered as vehicles for domestic and foreign investment at various locations across the country. The investment will not only be in infrastructural but also in manpower. Oman expects tourism to become a major source of employment and the government aims to have 80% Omanisation in the sector by 2010. The agreement for the running of the Oman Tourism and Hospitality Academy (OTHA) - which provides training to Omanis seeking employment in the tourism sector - has been renewed with the Austrian government for a further year from October 2004. At present more than 250 Omani men and women are studying at the Academy.
The Forts
The government is in the process of developing some of the country's imposing forts and castles such as the forts of Nizwa, Jabrin, Al Hazm, Nakhl and Khasab, which are among the Sultanate's main historic sites. Oman's forts and castles are a proud testament to its history and architectural skills. The rise and fall of dynasties, foreign invaders seeking to control lucrative trade routes, feuding tribes battling over strategic locations are all pmt of Oman's rich historic tapestry. The project involves landscaping, improving existing facilities and providing a range of essential services, as well as furnishing the interiors, installing small hi-tech museums and gift and handicraft shops within the buildings, and setting up permanent exhibitions illustrating architectural styles, old weaponry and examples of traditional dress and folklore. Many of the country's forts contain small museums and a wealth of information; the aim now is to bring all of them up to a similar, improved standard.
Trekking paths
The government is committed to restoring the old mountain passes. A mountain pass has been successfully restored in the Muscat area which is a 1.1/2-hour walk between Mutrah souq and Riyam park. This project was the first in a series and passes have now been marked in the Western Hajar range in the areas of Jabal Shams, Misfah al Arbiyeen. Jabal al Akhdhar, Awabi and Wadi Ghoul which will eventually create an interlinked system of mountain passes and provide opportunities for adventure tourism, trekking and mountain-climbing. Signboards at the beginning of the passes give the route, its length, grade of difficulty and the average walking time.
Cultural tourism
The government is continuing with its year-round cultural and artistic activities, which always prove popular with both domestic and international audiences. These include evening performances at the spectacularly restored At Fuleij Castle Theatre on the Batinah coast which offers a wide variety of impressive, professional Arab and international programmes. The newly- built 7000-scat Salalah Theatre in the Governorate of Dhofar, is expected to have an important impact upon cultural tourism in the Sultanate.
Publicity and Tourism offices
There is participation by the government and private sector establishments in international tourism fairs, meetings and markets to ensure would-be tourists are furnished with the latest information about what Oman has to offer. During 2004 there are plans to attend 17 such events in countries of the European Union, Russia and Japan, as well as in some AGCC states. There are tourism representation offices in Paris, London. Sydney and Tokyo. Tourist information centres have also been opened at Seeb International Airport as well as at the overland border crossing points with the UAE. A range of booklets, maps and guidebooks on the different regions of the country continue to be published, the latest being the 140-page "Destination Oman".
YOUTH PROJECTS
The Sanad Project was launched in 2001 with a RO2 million donation from the government, but the private sector now assists with training and financing. It encourages young people to explore non-traditional work areas and to consider the possibilities of self employment in various fields by providing financial and technical assistance to them to set up their own small projects with a maximum assistance of R05,000. The Fund for the Development of Youth Projects was established by Royal Decree No.76/98 in order to provide young Omani entrepreneurs with technical assistance and managerial support for the launching of small/medium-sized businesses. It began with a registered capital of R025 million and an issued capital of R05.3 million. Initially, 26 projects were financed with another 82 being authorised on 3 April 2004. In order to increase the organisation's operational efficiency, changes were introduced into its constitution at an extraordinary General Meeting on 16 March 2004. These changes reflected amendments introduced into the Commercial Companies Law. As part of this review, the Fund's authorised capital will increase to RO 10 million over the next five years. Another initiative, lntilaagah Oman was launched by the Shell International Group of Companies on the Sultanate's 25th National Day in November 1995. Intilaagah targets young (25-30 year old), unemployed Oman's with the aim of encouraging them towards self-employment. Once they have formulated a business idea, Intilaagah offers a programme of three months training and counselling. The best business plans submitted after the training are rewarded with trophies and cash prizes. The programme which was officially started in January 1996, in Muscat, has now expanded to 20 training centres around Oman. Intilaaqah is a non-profitable organisation with a Board of Trustees. Since its inception, many private sector companies namely Oman LNG, Oman International Bank, National Bank of Oman and Bank Muscat have joined Intilaaqah as partners in addition to the Shell Group of Companies.
MINERAL WEALTH The minerals sector is set to make an increasingly important contribution to Oman's GDP and diversification of the sources of national revenue. The mining of copper was first practised in Oman 5,000 years ago and the tradition continues, albeit with state-of-the-art technology. The most important mineral deposits in the Sultanate include chrome, limestone, marble, decorative stone, silica, lead, gypsum, iron, dolomite and copper. Gold has also been discovered in economically feasible quantities. A number of feasibility studies are being carried out at the sites of potential ore deposits and private investors have been invited to participate in mining ventures. Private investors will also benefit from the services of a dedicated mining laboratory and facilities offered in the areas of exploration and investment. The Mining Law, promulgated by Royal Decree 2003/27 on 16 April 2004, laid the groundwork for these initiatives.
INTELLECTUAL PROPERTY LEGISLATION
Prior to the Sultanate's accession to the World Trade Organisation (WTO) in November 2000, particular attention was given to the setting up of the relevant legislation and in this connection the World Intellectual Property Organisation (WIPO) sent delegations to Muscat to make recommendations which resulted in compliance with the Agreement on Trade Related Aspects of Intellectual Property Rights (The TRIPS Agreement). In January 2002, the World Intellectual Property Organisation (WIPO) and the government held an international forum in Muscat. In September 2004, the present Director-General of the World Intellectual Property Organisation (WIPO) was conferred the Order of Oman in appreciation of his efforts in protecting intellectual property and for consolidating ties between WIPO and various countries.