Oman’s OQ Targets $2 Billion Through Landmark IPO of Exploration Unit

The sale of a 25% stake in OQ's exploration and production business marks Oman's biggest IPO and a significant step in its privatization efforts.

Oman’s state-owned energy company OQ plans to sell 25% of its exploration and production unit through an IPO, aiming to raise approximately $2 billion.
The IPO is part of a broader strategy to privatize state assets and diversify Oman’s economy, following similar moves by Saudi Arabia and the UAE.
The IPO will be the largest in the Gulf region since UAE's ADNOC Gas in 2023, with shares expected to start trading on the Muscat Stock Exchange in October.
OQ's exploration and production unit holds 15 assets, with production reaching 249,000 barrels of oil equivalent per day by 2023.
OQ plans to distribute $600 million in annual dividends for 2025-2026, with additional performance-linked dividends.