Oman’s strategic position along vital global trade routes has established its seaports as indispensable to its economy, linking the nation to Europe, Asia, and beyond. Ports such as Salalah, Sohar, and Duqm are not only hubs for international commerce but also key enablers of Oman’s industrial diversification and economic development strategies.
Historically, Oman’s role as a trading hub has nurtured a cosmopolitan and culturally diverse society, enriched by centuries of maritime activity. This heritage has seamlessly blended with steady modernisation efforts, creating a unique socio-economic fabric that distinguishes Oman from its regional peers.
Yet, despite its significant potential, the Sultanate remains an understated presence in global discussions—a fact that belies its adaptability and ambition.
Over the last century, it has leveraged its hydrocarbon resources, operating within OPEC’s framework to maintain economic stability. However, it has also been among the first to envision a future beyond oil dependence.
Harnessing its rich maritime resources, Oman is steering towards a carbon-neutral, diversified economy by 2040. Central to this transformation is Simak, a semi-governmental corporation founded in 2019, which has quickly emerged as a key player in the seafood industry across the Arabian Peninsula.
Simak’s Growth and the Strategic Role of Duqm
For its part, Simak looks set to be in the possession of a sizeable chunk of the seafood market in the Arabian Peninsula. The strategic position of Duqm ensures easy access to fishing tracts and forms part of the government’s vision to transform Oman’s coastal towns into economic powerhouses.
Duqm is no ordinary port town. It has been earmarked as the epicentre of Oman’s industrial development, with a Special Economic Zone (SEZ) spanning over 2,000 square kilometres. Positioned on the Arabian Sea and Indian Ocean, Duqm is ideally placed to benefit from international sea trade routes, making it a prime location for supply chain infrastructure.
Simak is capitalising on this geographic advantage. The company established a large canning plant for sardine products in 2024, laying the groundwork for future expansion. Earlier this month, CEO Zakariya Suleiman Al Hasni articulated the company’s ambitious vision:
“Simak is an international marine products company aligned with Oman Vision 2040, targeting sustainable economic growth. Our goal is to build a diverse and sustainable seafood portfolio that not only supports Oman’s economy but also reaches Gulf, Middle Eastern, and global markets.”
Abalone: A Delicacy with High Potential
While shrimp farming is an obvious choice for market expansion, Oman’s abalone—renowned for its distinctive flavour—is emerging as a high-value export, particularly in East Asia, where seafood demand is especially high.
This prized shellfish offers significant economic potential due to its lengthy cultivation period and high market value. Simak can leverage the expertise of other entities, such as the Oman Agricultural Company, which has successfully established abalone farms in Dhofar. These projects also address critical sustainability concerns by fostering employment and skills development among the local population, ensuring that future generations can participate in the fisheries industry.
Seafood Vision 2040: A Blueprint for Diversification
The global push towards sustainable development and the decline of hydrocarbon dominance have forced Middle Eastern countries to innovate.
In 2022, Oman earned 22 billion USD in total hydrocarbon sales revenue. That figure stretches over 1.1 million barrels of oil on a daily basis.
For the sultanate, the transition to a diversified economy is encapsulated in Vision 2040, which prioritises investment in industries like renewable energy and food production. Seafood has emerged as a focal point of this diversification.
By the end of this year, the Middle Eastern seafood market is projected to be worth $22.13 billion, with Oman well-positioned to capture a significant share due to its rich marine biodiversity and favourable climate. Unlike its neighbours, Oman’s Arabian Sea waters offer an unparalleled environment for farming shrimp, crabs, lobsters, and abalone.
The last decade has seen the codification of the Sustainable Development Goals (SDGs) and worldwide acceptance of the need to slowly move the world economy away from hydrocarbons. For many Middle Eastern states, this means adaptation for survival in the long term.
If transformations are not made, the growth engines of the traditional oil and natural gas reserves of states such as Saudi Arabia, Qatar, and the UAE cannot guarantee the continuation of economic prosperity.
While Saudi Arabia remains the dominant player in the Middle Eastern seafood market, Oman’s natural advantages give it a unique edge. Unlike the UAE, which struggles with overfishing and limited marine biodiversity in its waters, Oman’s Arabian Sea coastline supports a wide variety of marine species.
Additionally, Oman’s subtropical location and monsoon climate create ideal conditions for aquaculture, making it particularly suited for farming high-demand products like shrimp and abalone. Despite being largely a desert nation, Oman has turned its geographic and climatic challenges into opportunities.
Sustainability and the Promise of “White Gold”
Shrimp farming, often termed “white gold,” has the potential to transform Oman’s fisheries sector as it has in countries like Thailand and Bangladesh. However, poor regulatory practices in these nations have led to environmental degradation. Oman, by contrast, is embedding sustainability into its aquaculture development.
Simak, supported by Fisheries Development Oman and partners like Blue Aqua International, is creating a model of sustainable shrimp farming. CEO Dr Farshad Shishehchian emphasised this vision in 2023:
“Shrimp is a valuable commodity in international markets, and the demand for sustainably farmed shrimp has been growing. With Fisheries Development Oman’s support, I believe we can build a successful model for urban farming globally.”
Abalone farming presents its own challenges due to its high investment and long growth cycle. However, with the right practices, it could become a cornerstone of Oman’s seafood industry, attracting global attention and investment.
Simak has effectively stepped into a market once dominated by local fishermen, whose unsustainable practices led to overfishing and stock depletion by 2018–2019. The transition to corporate oversight has raised questions about whether such a model can genuinely ensure sustainability. However, Simak’s application of scientific best practices, coupled with comprehensive training programmes, offers a promising path forward for rebuilding and managing abalone stocks responsibly.
A Long-Term Vision for Global Reach
Simak’s projects stand to greatly benefit Duqm’s economy by creating jobs and enhancing the development of skilled labour in a region set to become an international sea trade hub. The company’s establishment within Duqm’s Fishing Industries Zone aligns with broader national efforts to position the town as a centre for industrial growth.
Although financial details about Simak’s operations remain scarce due to its semi-governmental status, this structure provides assurance of stable funding and expert management. Such backing is critical, particularly in the delicate arena of abalone production, where ecological and economic stakes are high.
If executed successfully, Simak’s initiatives could establish Oman as a global leader in sustainable seafood production, particularly in the lucrative shrimp and abalone markets. Beyond financial self-sufficiency, these efforts would attract international attention and investment, reinforcing Oman’s reputation as an innovative and environmentally conscious economic player.
As the sultanate moves towards its Vision 2040 goals, the success of initiatives like Simak will serve as a litmus test for the country’s ability to leverage its natural advantages and organisational capacity. With careful execution, Oman has the potential to create a thriving seafood industry with both local and global impact.
Written by: Omar Ahmed