Dubai –
Oman’s OQ Group is expanding its presence in Angola through new energy opportunities, led by plans for a 500-megawatt renewable power project. The moves cover exploration, production, LNG, fertilizers and petrochemicals, alongside gas utilization and product trading.
Strategic Cooperation Frameworks Signed
The initiatives are based on two memorandums signed in Angola during Sultan Haitham bin Tariq’s visit. OQ CEO Ashraf Al-Mamari signed the agreements with Angolan Minister João Batista Borges and Sonangol Chairman Sebastião Baio.
Hydrocarbon and Chemical Sector Focus
The Sonangol memorandum outlines a framework for evaluating joint investment opportunities in oil and gas assets, LNG projects and fertilizer manufacturing. It also covers technical expertise exchange across the energy value chain stages.
Potential collaboration areas include studying gas resource exploitation for ammonia and petrochemical production. Both parties may develop mutual supply and purchase arrangements for refined oil products and chemical commodities.
No specific investment values or designated assets have been disclosed yet. The agreement remains focused on assessing the technical and economic feasibility of identified opportunities before committing to concrete projects.
Renewable Energy Project Details
A separate memorandum between OQ Alternative Energy and Angola’s Ministry of Energy targets a renewable electricity generation project with a total capacity of approximately 500 megawatts. The initiative includes battery storage systems.
The project will be developed under Angola’s Independent Power Producer commercial model. Minister Borges stated that cooperation aims to build a business model stimulating sustainable renewable investment and infrastructure development.
Executive Perspectives on Growth
CEO Ashraf Al-Mamari described the memorandums as a milestone for strengthening partnerships with Angola. He emphasized exploring fields where OQ’s expertise intersects with Angolan investment aspirations, targeting economically viable projects offering sustainable value.
OQ leverages existing commercial presence in African markets through subsidiaries. The group operates globally in seventeen countries, covering upstream activities, refining, petrochemicals and distribution across more than eighty nations.
Production Performance Context
OQ Exploration & Production reported output of 228.2 thousand barrels of oil equivalent per day in the first half of 2026, representing a 2.7 percent year-on-year increase. Oil accounted for fifty-three percent of total production.
Gas comprised the remaining forty-seven percent, while operating costs per barrel remained below ten dollars. These Angola deals provide two growth pathways: renewables with storage and hydrocarbon resources linked to LNG and related industries.
This story was produced in the newsroom from the disclosed sources named above.
