Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Malaysia’s state energy firm Petronas has signed a memorandum of understanding (MoU) with Oman’s OQ Exploration and Production New Ventures (OQEP) to jointly explore oil and gas opportunities across the Middle East and Southeast Asia.

The agreement, signed through Petronas’ subsidiary Carigali International Ventures, sets a framework for collaboration that combines Petronas’ international upstream experience with OQEP’s regional expertise to unlock new growth opportunities and accelerate value creation in multiple markets.

The signing ceremony took place at OQEP’s headquarters in Muscat and was attended by senior executives from both companies, including Petronas Vice President of International Assets, Mohd Redhani Abdul Rahman, and OQEP Acting Chief Executive Officer and Chief Operations Officer, Mahmoud Al Hashmi.

“This collaboration represents a meaningful step forward in our efforts to build a resilient and competitive upstream portfolio. By aligning our strengths with OQEP’s strategic direction, we are well-positioned to pursue impactful ventures in these regions,” Redhani said.

Petronas, which has been active in Oman since 2018 and holds interests in Block 61, said the MoU builds on its expanding relationship with OQEP and reflects both firms’ shared ambition to strengthen upstream cooperation.