PETRONAS and Oman’s OQEP Forge Strategic Partnership to Advance Upstream Collaboration

PETRONAS, through its subsidiary PETRONAS Carigali International Ventures Sdn Bhd (PCIV), has signed a Memorandum of Understanding (MoU) with OQ Exploration and Production New Ventures LLC (OQEP) — a wholly owned subsidiary of OQ Exploration and Production SAOG — to jointly explore opportunities in oil and gas exploration and production across the Middle East and Southeast Asia.

The MoU establishes a framework for collaboration that combines PETRONAS’ global upstream expertise with OQEP’s deep regional insights, with the goal of unlocking new growth prospects and accelerating value creation in key energy markets.

The signing ceremony was held at OQEP’s headquarters in Muscat, Oman, where the agreement was formalized by Mohd Redhani Abdul Rahman, Vice President of International Assets at PETRONAS Upstream, and Mahmoud Al Hashmi, Acting Chief Executive Officer and Chief Operations Officer of OQEP.

Commenting on the partnership, Redhani said: “This collaboration represents a meaningful step forward in our efforts to build a resilient and competitive upstream portfolio. By aligning our strengths with OQEP’s strategic direction, we are well-positioned to pursue impactful ventures in these regions.”

PETRONAS has maintained a presence in Oman since 2018, holding participating interests in Block 61. This MoU further reinforces the growing partnership between PETRONAS and OQEP, built on mutual trust and a shared vision for advancing the energy industry.