{"id":9747,"date":"2026-03-10T15:35:00","date_gmt":"2026-03-10T11:35:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/business\/oqep-2026-capex-forecast-800-900m\/"},"modified":"2026-03-11T00:45:39","modified_gmt":"2026-03-10T20:45:39","slug":"oqep-2026-capex-forecast-800-900m","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/business\/oqep-2026-capex-forecast-800-900m\/","title":{"rendered":"OQEP&#8217;s $800\u2013900 Million Capex Projects for 2026: What This Means for Investment Opportunities 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><strong>MUSCAT, MAR 10<\/strong> \u2014 OQ Exploration &amp; Production SAOG (OQEP), the dominant Omani state-owned upstream energy firm, projects capital expenditures between <strong>$800 million and $900 million<\/strong> for its extensive portfolio of both operating and non-operating assets in Oman throughout 2026.<\/p>\n<p>As a publicly traded entity under the OQ Group, OQEP manages <strong>14 upstream assets<\/strong>, which collectively produced an average of <strong>224,000 barrels of oil equivalent per day (boe\/d)<\/strong> in 2025, reflecting its net working interest. Executives aim for production levels to remain between <strong>220,000 and 230,000 boe\/d<\/strong> in 2026, with oil comprising <strong>54%<\/strong> and gas <strong>46%<\/strong> of this total\u2014a strategy designed to offer flexibility during periods of fluctuating oil prices.<\/p>\n<p>During a recent meeting with investors, CFO Jaber al Noumani emphasized the company\u2019s objective to keep operating costs under <strong>$10 per barrel of oil equivalent<\/strong>. The forecast for capital expenditure stands at <strong>$0.8 billion to $0.9 billion<\/strong>, aligned with the net working interest.<\/p>\n<p>OQEP&#8217;s net debt-to-EBITDA ratio is currently approximately <strong>0.24x<\/strong>, providing substantial scope for future growth. As part of a five-year growth strategy, the company aims to achieve production levels of around <strong>300,000 boe\/d by 2030<\/strong>. This prudent capital structure is expected to target <strong>1.0x net debt-to-EBITDA<\/strong> under prevailing oil prices, with provisions for up to <strong>1.5x<\/strong> in adverse price conditions.<\/p>\n<p>Chief Commercial Officer Dr. Anwar al Kharusi detailed the company\u2019s five-year strategy (2026\u20132030), founded on essential pillars: enhancing cash flow, increasing production and reserves, sustaining growth beyond 2030, and gradually diversifying internationally.<\/p>\n<p>Dr. al Kharusi identified two primary growth focuses: <\/p>\n<ol>\n<li>\n<p>Maximizing domestic opportunities in Oman by developing resources and advancing integrated oil, gas, and LNG projects, including the ongoing <strong>Marsa LNG bunkering project<\/strong> at SOHAR Port and Freezone.<\/p>\n<\/li>\n<li>\n<p>Building resilience and expanding internationally, leveraging government support and partnerships with International Oil Companies (IOCs) to penetrate relevant markets across the Middle East and North Africa, effectively transferring knowledge and experience gained in Oman.<\/p>\n<\/li>\n<\/ol>\n<p>Commenting on growth strategy, CEO Hamoud al Hashmi noted that it will blend organic growth\u2014particularly successes in Blocks 48 and 60\u2014with mergers and acquisitions both locally and abroad. Acquisitions will undergo rigorous screening based on strategic fit, financial metrics, and other critical aspects, complemented by internal and third-party reviews.<\/p>\n<p>\u201cOur ambition is to reach <strong>300,000 boe\/d by 2030<\/strong>. The pace of this growth will depend on the availability of suitable acquisitions alongside organic development. Accelerating growth sooner would be beneficial, yet we must adhere to our financial benchmarks. We are committed to a gradual growth trajectory while ensuring fiscal discipline across all key financial indicators,\u201d he emphasized.<\/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 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.hitl8gakbl{display:flex;align-self:center;text-align:left}\r\n  .hitl8gakbtn{width:100%;justify-content:center;padding:12px 20px}\r\n}\r\n\/* \u2500\u2500 Wide: >= 600px (leaderboard style) \u2500\u2500 *\/\r\n@container (min-width:600px){\r\n  .hitl8gaka{min-height:90px}\r\n}\r\n<\/style><!-- HiT Land Banner \u2014 Container Query Responsive -->\r\n<div class=\"hitl8gakw\">\r\n<a class=\"hitl8gaka\" href=\"https:\/\/hit.land\/services\/web-app-development\" target=\"_blank\" rel=\"noopener nofollow\" style=\"animation:hitl8gak-fadein 0.7s ease both;animation-delay:0s;\">\r\n  <div class=\"hitl8gakg1\" style=\"animation:hitl8gak-glow 3s ease-in-out infinite;\"><\/div>\r\n  <div class=\"hitl8gakg2\"><\/div>\r\n  <div class=\"hitl8gakgl\" style=\"animation:hitl8gak-shimmer 3s ease-in-out infinite;\"><\/div>\r\n  \r\n  <div class=\"hitl8gakc\">\r\n    \r\n    <div style=\"display:inline-flex;align-self:flex-start;align-items:center;gap:6px;background:rgba(255,255,255,0.08);border:1px 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><strong>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/strong><\/p>\n<p>OQEP&#8217;s <strong>planned capital expenditures of $800-$900 million<\/strong> and target production increase to <strong>300,000 boe\/d by 2030<\/strong> signal robust growth potential in Oman&#8217;s energy sector. This creates <strong>opportunities for businesses<\/strong> in related industries, particularly in <strong>LNG projects and infrastructure<\/strong> development, while also emphasizing the need for <strong>smart investors to stay vigilant<\/strong> about asset acquisitions within a framework of strict financial discipline. Companies must be prepared to <strong>capitalize on both domestic projects and international expansion<\/strong> to thrive amidst fluctuating oil prices.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OQ Exploration &#038; Production SAOG (OQEP) forecasts capital expenditures between $800 million and $900 million for 2026, managing 14 upstream assets. With a targeted output of 220,000-230,000 barrels of oil equivalent per day, the strategy focuses on sustainable growth through domestic development and international expansion.<\/p>\n","protected":false},"author":5,"featured_media":9748,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[114],"tags":[4095,169,1202],"class_list":["post-9747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-capital-expenditures","tag-oil-production","tag-oq-exploration"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2026\/03\/3318754.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9747","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=9747"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9747\/revisions"}],"predecessor-version":[{"id":9749,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9747\/revisions\/9749"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/9748"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=9747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=9747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=9747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}