KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS), through its subsidiary PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), has collaborated with OQ Exploration and Production New Ventures LLC (OQEP) to jointly pursue oil and gas exploration and production across the Middle East and Southeast Asia.
PETRONAS Carigali today inked a memorandum of understanding (MOU) with OQEP, a wholly-owned subsidiary of OQ Exploration and Production SAOG, at OQEP’s headquarters in Muscat, Oman, PETRONAS said in a statement.
It stated that the MOU provides a framework for collaboration that leverages PETRONAS’ international upstream expertise and OQEP’s regional knowledge, aiming to unlock new growth opportunities and accelerate value creation in diverse markets.
PETRONAS upstream vice president of international assets, Mohd Redhani Abdul Rahman, said the collaboration represents a meaningful step forward in its 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,” he said.
PETRONAS said it has been active in Oman since 2018 and currently holds participating interests in Block 61. "This MOU builds upon the growing relationship between PETRONAS and OQEP, anchored on mutual respect and shared industry goals," it added. - Bernama
