OQ Exploration and Production Co. - OQEP

Activities

Established on May 5, 2009, OQ Exploration and Production Co. (OQEP) operates as a subsidiary of OQ SAOC, Oman's integrated energy group. Headquartered in Muscat, OQEP is the country's only government-owned upstream oil and gas operator, managing a portfolio of high-quality assets across the exploration and production value chain. The company plays a central role in Oman's energy strategy, contributing significantly to national output and resource development.

OQEP has grown rapidly since its inception, expanding its average daily production nearly 14-fold to reach 246,000 barrels of oil equivalent per day (kboe/d) on a working interest basis by 2023. This output represented approximately 14% of Oman's total oil, gas, and condensate production for that year. The company's portfolio includes 14 upstream assets, strategically located and developed to maximize efficiency, sustainability, and long-term value.

As part of the broader OQ Group, OQEP benefits from integrated capabilities in project development, operational excellence, marketing, and financing. The group is wholly owned by the Oman Investment Authority, which centralizes the country's energy investments to enhance resilience and profitability. OQEP's operations are aligned with Oman's national goals for energy security, economic diversification, and sustainable development.

Looking ahead, OQEP continues to focus on optimizing its asset base, enhancing production efficiency, and exploring new opportunities across Oman's hydrocarbon landscape. Its strategic importance, technical expertise, and government backing position it as a cornerstone of Oman's upstream energy future.