Investing in OQEP
OQEP is one of the top three oil and gas producers in the Sultanate of Oman and one of the largest holders of oil gas reserves with 0.9 bnboe WI 2P Reserves, 0.8 bnboe WI 2C Contingent Resources, 14 operating and non-operating oil and gas assets.
Founded in 2009, it has grown its production by 13 times to 228 kboepd1.
OQEP is Oman’s only government-backed upstream operator and the partner of choice for international oil and gas companies.
Generating strong free cash flow and top quartile returns driven by growth strategies, and operational efficiencies: EBITDA of US$1.6 billion, Free Cash Flow of US$654 million and ROCE of 24% in 2024.
OQEP offers attractive shareholder returns, with both a base dividend and a Performance Linked Dividend. OQEP is committed to returning substantially all of its distributable free cash flow after providing growth opportunities and investments.
1WI production oil and gas split
Leadership Message
OQEP plays a critical role in enabling Oman Vision 2040 through its ability to generate value from Oman’s hydrocarbon assets. OQEP has delivered exceptional growth under the management of its current executive team, led by OQEP CEO, Ahmed Al Azkawi. The company has a clear strategy to continue to generate value on behalf of its shareholders, guided by OQEP’s board of directors. As Chairman of the Board, I would like to express my sincere gratitude to the Government of the Sultanate of Oman under his Majesty Sultan Haitham bin Tariq for its continued support, our shareholders for their trust, and our employees for their dedication. Together, we will continue to build on our successes and contribute to a more prosperous and sustainable future for Oman.
Ashraf Al Mamari
Chairman
OQEP offers a highly attractive proposition to shareholders as a critical player in Oman's oil and gas sector, contributing 14% of national production. We leverage our NOC position while partnering with leading IOCs, delivering the Government's participation rights and promoting new investment opportunities.
Driven by a strong commercial mindset and with access to global best practices, OQEP operates a high-quality, low-cost portfolio, generating strong EBITDA and Free Cash Flow growth with shareholder returns delivered through base and performance-linked dividends.
OQEP is committed to ESG responsibilities with rigorous HSSE strategies, offering long-term value generation opportunities in maximizing Oman's energy potential as we build toward the energy transition, fuelling tomorrow's world.
Ahmed Al Azkawi
Chief Executive Officer
Operational Highlights
Reinforce competitive positioning and
lead in gas and decarbonisation
Asset
Growth
Asset Growth
Developing OQEP’s portfolio of high-quality assets
OQEP will grow its hydrocarbon portfolio through new developments, acquisitions and leveraging the Government’s participation rights
Reserves
Reserves
Ensuring reserves replenishment
OQEP will achieve or exceed the industrial benchmark for reserves replenishment rate, providing a platform for consistent value generation
Value
Generation
Value Generation
Enhancing OQEP’s financial performance
OQEP will grow its EBITDA and free cash flow generated from its high-quality portfolio of assets through growth strategies and operational efficiencies
Portfolio
Management
Portfolio Management
De-risking and differentiating
OQEP will continue to manage its portfolio of assets to ensure that they provide superior risk adjusted returns whilst providing a blend of value opportunity for OQEP and its IOC partners
Investment
Highlights
OQEP is contributing to 14% of Oman’s oil and gas production
It is the preferred partner for the Government’s participation rights
It is responsible for the joint marketing of new opportunities with the Omani Government to IOCs
OQEP has proven success in partnering with leading IOCs
It has 9 producing blocks in Oman, both operating and non-operating
OQEP’s asset base is gas weighted, positioning it for the future, whilst providing a base of stable revenues
59% of OQEP’s WI 2P Reserves are gas
It has a low cost of production at less than $10/boe
OQEP is self-funded, with low leverage at 0.4x net debt/EBITDA
Industry top quartile returns of 22% for ROCE
OQEP offers attractive shareholder returns, with a dividend yield of ~10% combined with the potential upside of a Performance Linked Dividend
OQEP has integrated its ESG responsibilities into its strategy, delivering an emission profile below the industry target, whilst ensuring the safety of its people through rigorous HSSE strategies and programmes.
OQEP has integrated its ESG responsibilities into its strategy, delivering an emission profile below the industry target, whilst ensuring the safety of its people through rigorous HSSE strategies and programmes
Investor Relations
Contact
For enquiries and additional information, please call or email our Investor Relations team.
Investor Relations Contact
IR@oqep.om
+968 22142208
OQEP HQ Address
PO Box 200, PC 102,
Muscat Grand Mall, Muscat