OQEP, Petronas sign deal to study offshore oil prospects

09/11/2026 04:46 AST

OQ Exploration and Production (OQEP) and Malaysia's Petronas have joined hands to assess hydrocarbon exploration opportunities in Oman's offshore Blocks 83 and 84, under a joint study agreement signed with the Ministry of Energy and Minerals.

The agreement was signed on Thursday between the ministry, OQ Exploration and Production New Ventures, a subsidiary of OQEP, and PC Oman Ventures, a wholly-owned subsidiary of Petronas, in the presence of H E Mohsin bin Hamad Al Hadhrami, Undersecretary of the Ministry of Energy and Minerals.

The study will evaluate the hydrocarbon potential and investment viability of the two offshore blocks through geological and geophysical assessments, as well as the identification of potential exploration prospects, OQEP said in a social media post.

According to OQEP, the findings will help inform consideration of possible future concession agreements, paving the way for further exploration and investment opportunities in the blocks.

OQEP said the partnership brings together its local expertise and understanding of Oman's upstream sector with Petronas' international technical and operational capabilities to support the evaluation of investment opportunities and advance exploration of the country's energy resources.

The collaboration is aimed at creating sustainable, long-term value through the assessment of Oman's offshore hydrocarbon potential.

Muscat Daily