OQ Exploration & Production (OQEP), a leading exploration and production company listed on the Muscat Stock Exchange, recently announced the signing of four significant contracts valued at over RO21 million. This announcement was made during OQEP’s participation in the Oman Petroleum & Energy Show 2025.

These agreements, made with local companies and small and medium enterprises (SMEs) operating in Oman’s concession areas, highlight OQEP’s dedication to enhancing In-Country Value (ICV). One of the key contracts was signed with Technical Services Company to develop a fully integrated residential camp within the Bisat Project at Block 60. This contract encompasses various services including engineering, manufacturing, procurement, installation, and operational management, with the completion date set for June 2026. The camp is designed to accommodate between 360 and 460 individuals, supporting Bisat field operations and contributing to Omanisation goals.

Furthermore, OQEP entered into a two-year agreement with Shalim Oil Company, which includes an option for a two-year extension. This contract aims to ensure the ongoing employment of over 80 former staff from Shalim, reinforcing OQEP’s commitment to workforce stability and long-term local engagement in its oil fields. Shalim is a recognized local service provider that specializes in light land drilling rigs for Block 60, OQEP’s primary hydrocarbon concession.

In addition, a contract was finalized with Rimal Al Sahra Oil & Gas to supply casing materials for Blocks 60 and 48, under a four-year agreement which includes an optional two-year extension. This collaboration reflects OQEP’s growing capability in providing essential well construction components while promoting local procurement and minimizing reliance on imports.

The fourth contract was awarded to Shuram LLC, an Omani SME with a Riyada card, for critical analytical services across Blocks 60, 48, and 8. As the only specialized laboratory service provider for the oil sector in Oman, Shuram’s partnership with OQEP underscores the company’s focus on supporting high-performing SMEs and enhancing local expertise.

Jaber al-Namani, Chief Financial Officer at OQEP, stated that these contracts reaffirm OQEP’s strong commitment to ICV by forming strategic partnerships with local businesses and empowering Omani talent at all operational levels. He emphasized that investing in human capital and local infrastructure is essential for achieving sustainable economic growth and enhancing the competitiveness of Oman’s energy sector in the long run. Al-Namani also noted that by signing these agreements with SMEs in concession areas, they are bolstering their role in contributing to the national economy while supporting private sector development and workforce empowerment.