{"id":"oqep-oman-first-half-production-exploration-results-2026","canonicalSlug":"oqep-oman-first-half-production-exploration-results-2026","url":"https://wellficent.com/en/news/oqep-oman-first-half-production-exploration-results-2026","language":"en","title":"OQEP reports higher production and first-half earnings in Oman","summary":"The audited update links portfolio growth, exploration activity and a Block 9 fiscal amendment.","body":["OQ Exploration and Production announced its audited first-half 2026 results on 16 August. The Oman company reported revenue growth of 12%, EBITDA growth of 10.6% and net-profit growth of 19.4% compared with the previous first half. Those comparisons concern the company's financial reporting period, not an immediate gain from one new well or a forecast for every future project.","Net working-interest production averaged 228,200 barrels of oil equivalent per day, up 2.7%. The reported mix was 53% oil and 47% gas. OQEP said unit operating costs remained below USD 9 per barrel of oil equivalent. These portfolio-level measures should not be assigned as costs or yields for each individual well. Oil and condensate sales totaled 11.6 million barrels, while gas sales reached 69.7 billion cubic feet.","The update described exploration success in Blocks 60 and 48 and ongoing exploration in Blocks 11, 18, 47 and 54. It also reported a Block 9 production-sharing agreement amendment with enhanced fiscal terms, a 35% interest acquired in Block 27 and an offshore Block 80 concession agreement with Turkish Petroleum. The source does not quantify the fiscal changes, so a specific tax reduction or new-well commitment should not be inferred.","For well-industry analysis, the results combine realized operating measures with changes in the investment portfolio. The announcement does not supply precise well coordinates or a complete list of drilling outcomes. Further project and financial disclosures would be needed to evaluate the new interests and contract terms. Keeping production, sales, exploration activity and fiscal amendments distinct allows the reported progress to be tracked without converting acreage transactions into completed wells or attributing all earnings growth to new discoveries."],"keyPoints":[],"sections":[],"text":"OQEP reports higher production and first-half earnings in Oman\n\nThe audited update links portfolio growth, exploration activity and a Block 9 fiscal amendment.\n\nOQ Exploration and Production announced its audited first-half 2026 results on 16 August. The Oman company reported revenue growth of 12%, EBITDA growth of 10.6% and net-profit growth of 19.4% compared with the previous first half. Those comparisons concern the company's financial reporting period, not an immediate gain from one new well or a forecast for every future project.\n\nNet working-interest production averaged 228,200 barrels of oil equivalent per day, up 2.7%. The reported mix was 53% oil and 47% gas. OQEP said unit operating costs remained below USD 9 per barrel of oil equivalent. These portfolio-level measures should not be assigned as costs or yields for each individual well. Oil and condensate sales totaled 11.6 million barrels, while gas sales reached 69.7 billion cubic feet.\n\nThe update described exploration success in Blocks 60 and 48 and ongoing exploration in Blocks 11, 18, 47 and 54. It also reported a Block 9 production-sharing agreement amendment with enhanced fiscal terms, a 35% interest acquired in Block 27 and an offshore Block 80 concession agreement with Turkish Petroleum. The source does not quantify the fiscal changes, so a specific tax reduction or new-well commitment should not be inferred.\n\nFor well-industry analysis, the results combine realized operating measures with changes in the investment portfolio. The announcement does not supply precise well coordinates or a complete list of drilling outcomes. Further project and financial disclosures would be needed to evaluate the new interests and contract terms. Keeping production, sales, exploration activity and fiscal amendments distinct allows the reported progress to be tracked without converting acreage transactions into completed wells or attributing all earnings growth to new discoveries.","category":"finance","region":"world","topics":[],"eventDate":"2026-08-16","eventDateBasis":"source-event-or-period","publishedAt":"2026-10-03T15:15:00+03:00","modifiedAt":"2026-10-03T15:15:00+03:00","publicationBasis":"first-publication","preparedAt":null,"sourcePublishedAt":"2026-08-16","translatedAt":null,"sources":[{"name":"OQ Exploration and Production","url":"https://oqep.om/UploadsAll/IRFiles/1786883724657OQEP%20H126%20Earning%20Release%20EN.pdf","checkedAt":"2026-10-03","publishedAt":"2026-08-16"}],"translations":{"en":"https://wellficent.com/en/news/oqep-oman-first-half-production-exploration-results-2026","tr":"https://wellficent.com/tr/news/oqep-oman-first-half-production-exploration-results-2026","ar":"https://wellficent.com/ar/news/oqep-oman-first-half-production-exploration-results-2026","fr":"https://wellficent.com/fr/news/oqep-oman-first-half-production-exploration-results-2026","es":"https://wellficent.com/es/news/oqep-oman-first-half-production-exploration-results-2026","ru":"https://wellficent.com/ru/news/oqep-oman-first-half-production-exploration-results-2026","pt":"https://wellficent.com/pt/news/oqep-oman-first-half-production-exploration-results-2026"},"corrections":[],"locations":[{"id":"country-om","type":"country","countryCode":"OM","name":{"en":"Oman","tr":"Umman","ar":"عمان","fr":"Oman","es":"Omán","ru":"Оман","pt":"Omã"},"context":{"en":"Country context of the report, not an exact well location. The cited source supplies no verified well coordinates.","tr":"Haberin ülke bağlamıdır; kesin kuyu konumu değildir. Kaynak doğrulanmış kuyu koordinatı sağlamıyor.","ar":"سياق البلد للخبر، لا موقع بئر دقيق. لا يقدم المصدر إحداثيات آبار موثقة.","fr":"Contexte national du reportage, pas emplacement exact d’un puits. La source ne fournit pas de coordonnées vérifiées.","es":"Contexto nacional del informe, no ubicación exacta de un pozo. La fuente no proporciona coordenadas verificadas.","ru":"Страна указана для контекста материала, а не как точное местоположение скважины. Цитируемый источник не предоставляет проверенных координат скважин.","pt":"A localização indica o país referido no artigo, não a posição exata de um poço. A fonte citada não fornece coordenadas verificadas dos poços."},"source":{"name":"OQ Exploration and Production","url":"https://oqep.om/UploadsAll/IRFiles/1786883724657OQEP%20H126%20Earning%20Release%20EN.pdf","checkedAt":"2026-10-03"}}],"wellIndustry":{"sector":"oil-gas","signal":"operational-result","activities":["exploration","production"],"metrics":[],"source":{"name":"OQ Exploration and Production","url":"https://oqep.om/UploadsAll/IRFiles/1786883724657OQEP%20H126%20Earning%20Release%20EN.pdf","checkedAt":"2026-10-03"},"reviewedAt":"2026-10-03T12:03:26+00:00"}}