MUSCAT – The two companies signed a memorandum of understanding (MoU) to collaborate on ventures within the oil and gas exploration and production sector.

The memorandum was executed by Mahmoud bin Abdullah Al Hashmi, Acting Chief Executive Officer of OQ Exploration and Production and Mohd Redhani Abdul Rahman, Vice President of International Assets of Petronas.

This memorandum establishes a comprehensive framework for both entities to identify and pursue cooperative opportunities in international energy projects. The partnership aims to unlock new growth potential in strategic markets while delivering reliable and sustainable energy solutions. The memorandum underscores the commitment of both companies to developing meaningful partnerships that support their respective international expansion strategies and contribute to the advancement of the global energy landscape.

Mahmoud bin Abdullah Al Hashmi, Acting CEO of OQ Exploration and Production, commented: “This memorandum represents a significant milestone in expanding OQ Exploration and Production’s international footprint through strategic alliances. Petronas brings substantial expertise and profound understanding of international markets, and we anticipate exploring synergistic opportunities that will create new pathways for value creation and sustainable growth across multiple key markets.”

Mohd Redhani Abdul Rahman, Vice President of International Assets of Petronas, stated: “Our collaboration with OQ Exploration and Production represents a strategic initiative to capitalize on significant opportunities within the energy transition landscape. We are committed to generating long-term value for all stakeholders through this partnership while contributing to the sustainable evolution of the global energy sector.”