Dubai \u2013<\/p>\n
Oman\u2019s 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.<\/p>\n
The initiatives are based on two memorandums signed in Angola during Sultan Haitham bin Tariq\u2019s visit. OQ CEO Ashraf Al-Mamari signed the agreements with Angolan Minister Jo\u00e3o Batista Borges and Sonangol Chairman Sebasti\u00e3o Baio.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
A separate memorandum between OQ Alternative Energy and Angola\u2019s Ministry of Energy targets a renewable electricity generation project with a total capacity of approximately 500 megawatts. The initiative includes battery storage systems.<\/p>\n
The project will be developed under Angola\u2019s Independent Power Producer commercial model. Minister Borges stated that cooperation aims to build a business model stimulating sustainable renewable investment and infrastructure development.<\/p>\n
CEO Ashraf Al-Mamari described the memorandums as a milestone for strengthening partnerships with Angola. He emphasized exploring fields where OQ\u2019s expertise intersects with Angolan investment aspirations, targeting economically viable projects offering sustainable value.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
This story was produced in the newsroom from the disclosed sources named above.<\/em><\/p>\n