HH Sayyid Marwan Bin Turki Al Said, Governor of Dhofar, recently attended the OQEP roadshow for its share offering in Dhofar Governorate. The event, held at the Sultan Qaboos Complex for Youth Culture & Entertainment, was attended by officials, dignitaries, and citizens. Eng. Ahmed bin Said Al Azkawi, CEO of OQEP, expressed gratitude to Sayyid Marwan for endorsing the roadshow and highlighted that the OQEP IPO is the largest in the history of Oman, adheres to Islamic Sharia principles, and offers citizens a 10% discount on share price compared to non-citizens.
The OQEP IPO aligns with Oman’s economic diversification policies and Oman Vision 2040 by engaging citizens and residents in government enterprises and expanding the ownership base. Sheikh Naif bin Hamed Fadel, Chairman of the Board of Directors of the Chamber in Dhofar Governorate, emphasized that IPOs are crucial for empowering the private sector to drive economic growth and attract investments. The OQEP IPO is expected to gain significant momentum due to the company’s strong positions and profit expectations in the next two years.
Mahmoud bin Abdullah Al Hashimi, Chief Operating Officer of OQEP, provided insights into the company’s exploration and production capabilities, highlighting its status as a leading entity exclusively focused on oil and gas exploration and production. OQEP is the only fully government-owned operator in the upstream industry and has witnessed significant growth since its establishment in 2009. Jaber bin Rashid Al-Naamani, Chief Financial Officer at OQEP, outlined the company’s dividend distribution plans, announcing that dividends will be disbursed quarterly.
OQEP aims to distribute OMR 230.7 M annually for the years 2025 and 2026. Al-Naamani also highlighted the company’s strategic focus on continued investment in hydrocarbon production, aligning with energy efficiency goals, carbon emission reduction targets, and enhancing energy transition efforts through asset improvements and strategic growth initiatives. The event included a discussion session where attendees posed questions about the company’s objectives, achievements, and IPO processes.
Overall, the OQEP roadshow in Dhofar Governorate was a successful event attended by officials, dignitaries, and citizens. The OQEP IPO, the largest in Oman’s history, aligns with the government’s economic diversification policies and Oman Vision 2040 by engaging citizens and residents in government enterprises. The company, solely focused on oil and gas exploration and production, has seen significant growth since its establishment in 2009 and aims to distribute dividends quarterly, starting from the third quarter. With a strategic focus on continued investment in hydrocarbon production and energy efficiency goals, OQEP is positioning itself as a key player in the industry.
