The essential oil of the oleogum resin "Olibanum" was prepared by direct steam distillation as well as by steam distillation of an N-hexane extract. Physical and chemical constants of the oil were determined. GC-MS was used for the analysis of the oil. Thirty-three components were identified in the steam distilled oil by their Kováts indices on stabilized OV-1 columns and by mass spectral data. The oil contains 62.1% esters, 15.4% alcohols, 9.9% monoterpene hydrocarbons, and 7.1% diterpenes. Certain minor constituents of the steam distilled oil failed to show up in the oil prepared by steam distillation of the N-hexane extract. Both oils exhibit antimicrobial activity, the activity of the steam distilled oil being higher than that of the oil prepared by steam distillation of the N-hexane extract.