OQ deepens Oman-Angola energy ties during Royal visit with strategic cooperation memoranda

21/09/2026 13:33 AST

OQ, Oman's global energy investment group, has signed two memoranda of cooperation to explore opportunities for collaboration across a range of energy and industrial sectors, strengthening economic and investment ties between Oman and the Republic of Angola.

The memoranda were signed by Ashraf Hamed Al Mamari, Group Chief Executive Officer of OQ, on behalf of OQ. H.E. João Baptista Borges, Minister of Energy and Water of the Republic of Angola, signed the renewable energy memorandum on behalf of the Ministry, while Sebastião Pai Querido Gaspar Martins, Chairman and Chief Executive Officer of Sonangol, signed the energy memorandum on behalf of Sonangol, Angola's national oil company.

The memorandum with Sonangol establishes a framework to identify and assess areas of mutual interest across the energy value chain. Potential areas of cooperation include upstream exploration and production, liquefied natural gas (LNG), and fertilisers, as well as gas monetisation opportunities including ammonia and petrochemicals and the potential supply and purchase of commodities.

A second memorandum between OQ Alternative Energy (OQAE) and Angola's Ministry of Energy and Water establishes a framework to evaluate and advance the potential development of approximately 500 MW of renewable energy generation, alongside a battery energy storage system (BESS), under an independent power producer (IPP) commercial model in Angola.

H.E. João Baptista Borges, Minister of Energy and Water of the Republic of Angola, said: "This strategic cooperation with OQ reflects the depth of the distinguished partnership and shared long-term vision between the Republic of Angola and Oman. Through this practical framework, we aim to build a leading commercial model that stimulates sustainable investment in the renewable energy sector and contributes to knowledge transfer and infrastructure development in line with the highest global standards, meeting Angola's aspirations for comprehensive economic development."

Ashraf Hamed Al Mamari, Group Chief Executive Officer of OQ, said: "These memoranda mark an important milestone in strengthening our partnership with the Republic of Angola and exploring areas where our expertise converges with our investment ambitions. Angola presents significant opportunities across the energy value chain, and we look forward to working together to identify economically viable projects that create added value for both sides. Al Mamari added: "The memoranda reflect OQ's approach to building strategic international partnerships that contribute to growth, strengthen Oman's presence in global markets and enhance value creation across the energy sector."

Sebastião Pai Querido Gaspar Martins, Chairman and CEO of Sonangol, said: "This memorandum provides Sonangol and OQ with a framework to explore potential areas of cooperation that can create sustainable growth while adding economic value for both companies. Our priority is to assess opportunities that are technically sound, commercially viable and aligned not only with Sonangol's strategic objectives but also with the development priorities of Angola's energy sector. We look forward to advancing our discussions with OQ and identifying areas where we can build long-term and commercially sustainable cooperation."

OQ already has an established commercial presence across Africa through its subsidiaries. The memoranda with Angola build on this presence, providing a framework to assess new opportunities and further expand OQ's investment portfolio across the African continent.

Gulfnews