• Oman

    • OQEP achieves net profits of OMR 272mn in 9 months

    By on November 25, 2024
    OQ
    OQ

    Muscat: The net profit of OQ Exploration and Production (OQEP) during the first 9 months of 2024 reached RO 272 million (USD 707 million), with an increase of 18% over the targeted figure of RO 230 million (USD 599 million).

    The financial figures of the company for the first 9 months of 2024 indicate that the company achieved a Free Cash Flow of RO 236 million (USD 614 million) compared to the targeted figure of RO 232 million (USD 603 million), comprising a rise by 2%.

    The company’s operational performance during the period from January to September 2024 recorded a noticeable development. Production went up to 255,000 barrels of equivalent oil barrels per day compared to 253,000 barrels, comprising a rise by 3% on the average daily total of oil and gas production.

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