Title :

Subject: OQ Exploration and Production SAOG Signs Strategic Exploration and Production Collaboration Agreement

Content :

OQ Exploration and Production SAOG (“OQEP”) and Kazakhstan’s national oil and gas company, KazMunayGas (“KMG”), have signed a strategic collaboration agreement to explore opportunities for increased energy investment between the Sultanate of Oman and the Republic of Kazakhstan. The agreement brings together the capabilities and expertise of both companies across the oil and gas value chain. OQEP and KMG will identify and evaluate upstream exploration and production opportunities in Kazakhstan, Oman and selected international markets.

 

Areas of potential cooperation include the assessment of equity and working-interest acquisitions, joint participation in exploration and production assets, collaborative technical studies and the submission of joint tenders. The agreement also provides a framework to explore commercial and technical solutions for mature-field development, production optimisation, Enhanced Oil Recovery (EOR), and gas projects with associated infrastructure. Both parties will also consider knowledge-sharing opportunities in geosciences, digital transformation, governance, HSSE, and national talent development.

 

The agreement supports OQEP’s strategy to strengthen international partnerships, expand its exploration and production portfolio and pursue attractive growth opportunities that create long-term value for shareholders and stakeholders.

Best Regards,

 

Khalid Al Qassabi

            Chief Financial Officer