OMAN —OQ Exploration and Production SAOG (OQEP) has entered into three separate Exploration and Production Sharing Agreements with the Ministry of Energy and Minerals of the Sultanate of Oman, securing sole operational rights for onshore Blocks 36, 66, and 43A. Under the terms of the deals, executed via its wholly owned subsidiaries, OQEP holds a 100% participating interest in each contract area. The agreements grant the company exclusive authorization to conduct exploration, appraisal, development, and production activities for both oil and natural gas across the designated acreage. Each contract incorporates an initial Phase One exploration window spanning three years, with the provision for a potential second phase depending on preliminary evaluation outcomes.
This upstream expansion significantly enlarges OQEP's operational acreage across key Omani onshore basins. Blocks 36 and 66 are situated in the western region of Oman, encompassing surface areas of more than 18,557 square kilometers and 4,898 square kilometers, respectively. Block 43A, positioned in the northwestern territory, spans approximately 6,920 square kilometers. As the upstream exploration and production arm of Oman's state-owned energy network, OQEP engages in the discovery, extraction, and commercialization of crude oil and natural gas reserves, operating as a key engine for domestic resource development and national economic growth.
The allocation of total equity control over these large-scale exploration blocks reinforces Oman's broader initiative to bolster national hydrocarbon reserves through targeted domestic exploration. By committing fully owned operator capacity to these tracts, OQEP streamliens decision-making processes for early-stage geological studies and drilling operations. This strategic move strengthens the upstream supply pipeline required to sustain long-term energy production, meet domestic demand, and fulfill export commitments in energy markets.
For energy infrastructure providers, oilfield service companies, and institutional investors, OQEP's multi-block commit signaling accelerated capital expenditure and field deployment in northwestern and western Oman. High-interest onshore exploration lowers operational friction compared to complex offshore projects, offering clear operational visibility for service contractors. Furthermore, successful appraisal across these blocks could create substantial downstream integrated opportunities and generate sustainable long-term asset value for local stakeholders and market participants.
