OQEP’s RO 317.4 Million Half-Year EBITDA: What This Strong Performance Means for Investors and Business Growth in Oman
MUSCAT: OQ Exploration & Production (OQEP) reported an EBITDA of RO 317.4 million ($825.6 million) for the first half of 2025, alongside revenues of RO 428.1 million ($1.1 billion), according to its audited financial results.
The company’s adjusted cash flow from operations increased by 20 percent to RO 289.2 million, while return on capital employed stood at 24.4 percent, with a rise to 25.8 percent recorded in Q2. Additionally, OQEP’s cash balance grew by 31 percent compared to the previous year.
The Board of Directors proposed basic quarterly dividends totaling RO 57.7 million for the second and third quarters of 2025, along with a performance-linked H1 dividend of RO 44.2 million, scheduled for payment in September and November.
On the operational front, average daily production reached 222.3 thousand barrels of oil equivalent (kboe/d). Key strategic projects progressed, including the early commissioning of the Basat C expansion, the extension of the Block 53 exploration and production agreement through 2050, and the commencement of construction at the Marsa LNG project in Sohar.
CEO Eng. Ahmed bin Saeed al Azkawi highlighted that the company’s strong performance was sustained despite softer oil prices, driven by higher sales volumes and improved efficiency. He reiterated OQEP’s dedication to growth aligned with Oman Vision 2040.
The daily output breakdown included 120.1 thousand barrels of oil and condensates, and 102.3 thousand barrels of gas. The Basat C expansion contributed an additional 37 thousand barrels per day of processing capacity, while enhancing production facilities and well tie-in capabilities.
The extension of the Block 53 agreement is expected to add approximately 800 million barrels of oil to the company’s future output. The $1.6 billion Marsa LNG project, developed jointly with TotalEnergies, is set to become one of the world’s lowest-carbon LNG terminals.
New exploration agreements with Genel Energy and the Turkish Petroleum Corporation cover promising concessions, with drilling planned in Blocks 54, 47, and 11. OQEP will invest up to $25 million over the next three years in these ventures. Furthermore, additional concessions (Blocks 18, 36, 43A, 66, and 15) will be marketed during 2025–2026 to attract foreign investment, aiming to maintain production levels between 220,000 and 230,000 barrels of oil equivalent per day while carefully managing costs. — ONA
تحلیل ویژه از عمانت | بازار عمان را کشف کنید
OQ Exploration & Production’s robust H1 2025 performance, marked by strong EBITDA and rising operational efficiency, highlights Oman’s strategic growth in energy production aligned with Vision 2040. The expansion of key projects like Basat C and Marsa LNG, coupled with extended exploration agreements, presents significant opportunities for foreign investment and energy sector innovation. Smart investors should eye these developments for long-term returns while entrepreneurs can explore new ventures in supporting industries driven by Oman’s expanding oil and gas output.
Persian 
English 
Arabic