According to the National Institutes of Health
Medline Plus Medical Encylopedia, the prognosis (outlook) for an infant born with omphalocele is as follows:
"Complete recovery is expected after surgery for an omphalocele. However, omphaloceles are frequently associated with other birth defects. How well a child does depends on any other conditions.
If the omphalocele is identified before birth, the mother should be closely monitored to make sure the unborn baby remains healthy. Plans should be made for careful delivery and immediate management of the problem after birth. The baby should be delivered in a medical center that is skilled with repairing the omphalocele. The baby's outcome is improved if he or she does not need to be taken to another center for further treatment.
Parents should consider screening the unborn baby for other genetic problems that are associated with this condition."
Their website provides a good description and explanation of this disorder.
MedlinePlus Medical Encyclopedia: Omphalocele
Also, be sure to check out their web page on the surgical repair.
MedlinePlus Medical Encyclopedia: Omphalocele repair
It sounds to me like this condition is easily repaired. The main problem, though, is that it is often associated with other birth defects. These include chromosomal abnormalities, congenital diaphragmatic hernia, and heart defects.
Hope this helps you out a bit...