Oman: OQEP Launches Share Buy Back Programme

Muscat – OQ Exploration and Production Company (OQEP) on Thursday announced a share buy back programme following approval from the Financial Services Authority of Oman (FSA).

The programme is intended to further enhance OQEP’s ability to deliver value to its shareholders, in addition to its current base annual dividend of $600mn and half-yearly performance linked dividend.

The share buy back programme will be initiated 15 days after this announcement, in accordance with FSA and Muscat Stock Exchange regulations.

 The programme will be conducted pursuant to the company’s extraordinary general meeting held on June 24, 2025, which amended its Articles of Association to enable OQEP to repurchase its shares.

Following commencement, the programme will be maintained for a period of up to six months or until the target range for share repurchases is achieved.  The target range for repurchase is 45mn to 60mn ordinary shares.

Ahmed al Azkawi, CEO of OQEP, said, “The share buy back programme reflects our confidence in OQEP’s strong fundamentals and long-term growth prospects. 

 Our shareholders will now benefit from a return of capital programme which includes a base dividend of RO231mn, a performance linked dividend and share buy back programme.  OQEP continues to focus on growth, operational excellence, portfolio optimisation, generating robust and predictable cash flow, and ensuring long-term value for its shareholders.”