{"id":9375,"date":"2026-02-25T15:17:00","date_gmt":"2026-02-25T11:17:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/economy\/oman-oqep-oil-gas-2030\/"},"modified":"2026-02-25T20:38:31","modified_gmt":"2026-02-25T16:38:31","slug":"oman-oqep-oil-gas-2030","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/economy\/oman-oqep-oil-gas-2030\/","title":{"rendered":"OQEP&#8217;s Plan to Increase Oil &#038; Gas Output to 300,000 boe\/d by 2030: Key Opportunities for Investors and Business Owners in Oman"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitv3sog-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitv3sog-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitv3sog-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitv3sogw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitv3soga{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitv3soga:hover{border-color:#dc262688}\r\n.hitv3sogg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p><\/p>\n<p>MUSCAT, FEB 25 \u2014 OQ Exploration &amp; Production SAOG (OQEP), the majority Omani state-owned upstream energy company, aims to increase its hydrocarbon production\u2014including oil, gas, and condensates\u2014to approximately <strong>300,000 barrels of oil equivalent per day (boe\/d) by 2030<\/strong>. This target marks a substantial rise from its average production of 230,000 boe\/d at the end of 2024, spanning a portfolio of 14 operating and non-operating upstream assets.<\/p>\n<p>This ambitious production goal forms a key element of OQEP\u2019s newly approved growth strategy, sanctioned by its Board of Directors in December, said Mahmoud al Hashmi, CEO. He explained, \u201cThe strategy adopts a balanced growth model focused on domestic development and supported by selective international expansion. Near-term growth will be driven mainly by disciplined mergers and acquisitions, while exploration will play a larger role in the longer term. This approach ensures a balanced portfolio of oil and gas assets generating resilient cash flows to fund future investments and deliver shareholder returns.\u201d<\/p>\n<p>In 2025, OQEP demonstrated a strong operational performance, achieving a 6.9% year-on-year increase in crude oil and condensate production to 21.7 million barrels, up from 20.3 million barrels in 2024. This growth reflects improved field performance and production optimization efforts. However, average realized sales prices dropped by 12.5%, to $70.7 per barrel, from $80.8 per barrel the previous year, in line with global oil price trends. Gas production saw a slight decline of 2.4%, falling to 121.2 billion cubic feet from 124.2 billion cubic feet in 2024.<\/p>\n<p>Financially, OQEP\u2019s revenue decreased by 6.7% to RO 1,159.0 million compared to RO 1,242.8 million in 2024. Gross profit fell 8.7% to RO 657.0 million, while EBITDA declined 6.9% to RO 941.1 million. Net profit after tax experienced a sharper drop of 14.9%, reaching RO 278.0 million, down from RO 326.6 million the prior year.<\/p>\n<p>Ashraf bin Hamed al Mamari, Chairman of the Board, highlighted the company\u2019s overall resilience: \u201cIn 2025, the Company achieved strong operational and financial results. Despite a $10.1 per barrel (12.5%) decrease in average oil prices year-on-year, OQEP increased oil and condensate sales by about 1.4 million barrels. This sales growth offset the impact of lower prices on revenue. Net profit remained robust despite the absence of profit from discontinued operations, following the transfer of our 51% stake in Abraj to OQ SAOC in early 2024, along with higher financing costs from a new loan facility initiated in September 2024.\u201d<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitl8gak-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitl8gak-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitl8gak-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitl8gakw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitl8gaka{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitl8gaka:hover{border-color:#dc262688}\r\n.hitl8gakg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 0%,rgba(220,38,38,0.35),transparent 65%);pointer-events:none;z-index:0}\r\n.hitl8gakg2{position:absolute;bottom:0;left:0;right:0;height:45%;background:radial-gradient(ellipse at 50% 100%,rgba(220,38,38,0.15),transparent 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.15s}\r\n.hitl8gakbtn:hover{filter:brightness(1.15);transform:scale(1.04)}\r\n.hitl8gakbr{font-size:9px;color:rgba(255,255,255,.18);text-align:center;margin-top:5px;letter-spacing:.1em;text-transform:uppercase}\r\n\/* \u2500\u2500 Compact horizontal: 380\u2013599px (like 320\u00d7100) \u2500\u2500 *\/\r\n@container (min-width:380px) and (max-width:599px){\r\n  .hitl8gaka{padding:12px 22px;gap:12px;min-height:100px}\r\n  .hitl8gakh{font-size:16px}\r\n  .hitl8gaks{display:none}\r\n  .hitl8gakbtn{padding:7px 16px;font-size:11px}\r\n}\r\n\/* \u2500\u2500 Mobile\/card: < 380px (like 300\u00d7250) \u2500\u2500 *\/\r\n@container (max-width:379px){\r\n  .hitl8gaka{flex-direction:column;align-items:center;justify-content:space-between;min-height:260px;padding:22px 22px;gap:10px}\r\n  .hitl8gakc{align-items:center;text-align:center}\r\n  .hitl8gakh{font-size:22px;white-space:normal}\r\n  .hitl8gaks{font-size:11px;white-space:normal}\r\n  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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/p>\n<p>OQEP&#8217;s ambitious target to boost hydrocarbon production to 300,000 boe\/d by 2030 <strong>signals strong growth potential in Oman&#8217;s energy sector<\/strong>, presenting significant opportunities for local businesses and investors focused on upstream activities and energy infrastructure. However, the softened pricing environment and recent profit declines highlight the <strong>need for strategic resilience and diversification<\/strong>. Smart investors and entrepreneurs should consider <strong>leveraging disciplined M&amp;A and exploration opportunities<\/strong> aligned with OQEP\u2019s balanced growth strategy to capitalize on long-term value creation.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OQ Exploration &#038; Production SAOG aims to boost hydrocarbon output to 300,000 boe\/d by 2030, up from 230,000 boe\/d in 2024. Despite a 12.5% price drop in 2025, it increased oil production to 21.7 million barrels, offsetting revenue losses effectively.<\/p>\n","protected":false},"author":5,"featured_media":9376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[482],"tags":[3966,169,1202],"class_list":["post-9375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-hydrocarbon-output","tag-oil-production","tag-oq-exploration"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2026\/02\/3306613.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=9375"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9375\/revisions"}],"predecessor-version":[{"id":9377,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9375\/revisions\/9377"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/9376"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=9375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=9375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=9375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}