Muscat: OQ Exploration and Production New Ventures, a subsidiary of OQ Exploration and Production, along with Petronas Carigali International Ventures SDN. BHD., have entered into a strategic cooperation agreement. This collaboration was solidified through a memorandum of understanding focusing on joint ventures in the oil and gas exploration and production sector.

According to Oman News Agency, the memorandum was signed by Mahmoud bin Abdullah Al Hashmi, Acting CEO of OQ Exploration and Production, and Mohd Redhani Abdul Rahman, Vice President of International Assets at Petronas. This agreement sets a framework for both parties to explore cooperative opportunities in international energy projects. The partnership is expected to tap into new growth potential in strategic markets, providing reliable and sustainable energy solutions. It highlights the commitment of both companies to fostering partnerships that support international expansion strategies and contribute to the global energy landscape.

Al Hashmi remarked that the memorandum marks a milestone in expanding OQ Exploration and Production’s international presence through strategic alliances. He noted that Petronas’s expertise and understanding of international markets would enable the exploration of synergistic opportunities, paving the way for value creation and sustainable growth in key markets.

Rahman emphasized that their collaboration with OQ Exploration and Production is a strategic move to leverage opportunities within the energy transition landscape. He reiterated the commitment to generating long-term value for stakeholders and contributing to the sustainable development of the global energy sector.