The exploration of biological sources for novel commercially valuable products, or bioprospecting, has played a vital role in the development of many industries, mainly including pharmaceuticals, agriculture, aquaculture and cosmetic industries. Microalgae have been targeted specifically in bioprospecting due to their high secondary metabolite content that translates to high potential for value-added products. Microalgae grown in extreme conditions portray a different composition of secondary metabolites than algae grown in ideal conditions that help them to deal with the stress in their environments. Eight indigenous extremophilic microalgae have been isolated from Oil fields in Nimr within the Sultanate of Oman. The secondary metabolite composition and potential for value-added products has never been explored in Oman prior to this paper, particularly microalgae grown in extreme conditions, which could lead to new discoveries in the region. This project aims to study the macromolecular and biochemical composition of these 8 microalgae, followed by an examination of their potential for industrial use, specifically as a bio-stimulant and anticancer agent. This was achieved through a variety of assays that had been modified to work with the extremophilic indigenous microalgae. The results showed that despite their microscopic diversity, all extremophilic microalgae showed relatively low macromolecule content, accompanied by a high chlorophyll and phenolic content ranging between 0.072 to 0.121% and 14.3 to 42.7 mg (GAE) / g (EW) respectively. Through testing for industrial application, these algae showed no bio-stimulant effects when added to the soil as whole algae. However, they had a high anti-proliferation effect in the anticancer assay. These results help to outline a potential use for extremophilic microalgae within the pharmaceutical industry and further testing of these microalgae could lead to a viable, marketable product.