Omagine

Company has signed a Development Agreement with the Government of the Sultanate of Oman. Omagine Owns 60%; Sultanate Owns 25%; Consolidated Contractors Owns 15%. Project to be developed on 245 acres of beach front land on Gulf of Oman. The estimated cost approximately $2.5 Billion. BNP Paribas To Lead Construction Financing Syndicate.

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Re: Yemen and Oil prices

Omagine

over 9 years ago

in response to alfederici's message

some ameliorating thoughts:

1) despite all the unrest, UAE, Qatar and Oman seem to be islands of stability, peace and economic progress in the region.

2) Omani culture seems to somehow blend elements of Shiite and Sunni without open conflict.

3) Oman seems to steer clear of public political strife

4) Oman has a strong culture of order, popularity of the government, socially responsible government and fairly competent and loyal military, mostly due to early and strong British guidance and influence. The sultan is a graduate of British military training (Sandhurst, I think).

5) Lowering oil prices put a stress on oil producers, but the Omani banks seem to have plenty of cash reserves and the oil economic trend puts more emphasis on the need to invest in tourism as an alternative source of wealth... and Oman is uniquely qualified as a tourist destination for the MENA region because of its natural beauty, climate, stability, historical artifacts.. not to mention the unique placement and cultural attractions of the OMAG project.