October 24, 2025 [Storage Terminals Magazine]- PETRONAS, through its subsidiary PETRONAS Carigali International Ventures Sdn Bhd (PCIV), has signed a Memorandum of Understanding with OQ Exploration and Production New Ventures LLC (OQEP), a wholly-owned subsidiary of OQ Exploration and Production SAOG. The agreement paves the way for both companies to jointly pursue oil and gas exploration and production opportunities across the Middle East and Southeast Asia.
The MoU establishes a framework for collaboration that combines PETRONAS’ international upstream expertise with OQEP’s strong regional knowledge. Together, the companies aim to unlock new growth opportunities and accelerate value creation in diverse markets.
The signing ceremony took place at OQEP’s headquarters in Muscat, Oman, and was officiated by Mohd Redhani Abdul Rahman, vice president of International Assets at PETRONAS Upstream, and Mahmoud Al Hashmi, acting chief executive officer and chief operations officer of OQEP.
Speaking at the event, Redhani stated, “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.”
PETRONAS has maintained a presence in Oman since 2018 and currently holds participating interests in Block 61. The signing of this MoU reinforces the growing partnership between PETRONAS and OQEP, built on a foundation of mutual respect and shared industry ambitions.
