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 splitOQEP 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.
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.
Chief Executive Officer
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