MUSCAT : The initiative is set to begin 15 days from the announcement date and will be carried out in accordance with FSA regulations and the Muscat Stock Exchange’s (MSX) trading framework.

Under the initiative, OQEP plans to buy back between 45 million and 60 million shares – as per the market price – from August 9, 2025, until February 9, 2026, or until the target number of shares has been acquired.

In a disclosure on MSX, the company stated: “In accordance with the provisions of the Public Joint Stock Companies Regulation issued by the Financial Services Authority under Resolution No. 27/2021, and the Commercial Companies Law promulgated by Royal Decree No. 18/2019, and based on the resolution of the Board of Directors of OQ Exploration & Production SAOG dated June 30, 2025, and the approval granted by the Financial Services Authority on July 23, 2025, the Company is pleased to inform its valued shareholders of its intention to purchase a portion of its shares listed on the Muscat Stock Exchange.”

The initiative complements the company’s ongoing capital return strategy, which includes an annual core dividend of RO 231 million (approximately USD 600 million) and a performance-linked dividend component.

“This share buyback represents a strategic initiative aimed at reinforcing positive market momentum and strengthening shareholder confidence in the Company’s stock, as well as its financial and operational performance. The buyback is expected to have a favourable impact on the share price and market perception, offering enhanced flexibility in capital management and optimizing shareholder returns. This initiative serves as a strategic enabler, empowering the Company to act decisively in bolstering market confidence and delivering long-term value to its shareholders,” the disclosure concluded.

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