Petronas has signed a concession agreement with the Government of the Sultanate of Oman and OQ Exploration and Production Batinah Offshore (OQEP) for exploration activities in offshore Block 18, expanding its international upstream portfolio.
The agreement was signed by Petronas’ wholly owned subsidiary, PC Oman Ventures (PCOVL), which will assume operatorship of Block 18 in partnership with OQEP.
Block 18 covers more than 21,000 square kilometers offshore northeast Oman and is described as a frontier exploration area spanning geological settings from shallow to ultra-deep water.
PCOVL has been active in Oman since 2018 and holds a participating interest in Block 61. The new concession builds on a Memorandum of Understanding signed between Petronas and OQEP in October 2025.
“Building on our technical strengths and successes, Petronas continues to expand its exploration activities into new frontiers. Through our innovative exploration approaches and OQEP’s basin expertise, we aim to jointly unlock the potential of Block 18, contributing to Oman’s long-term energy security.
“The addition of Block 18 aligns with our commitment to disciplined portfolio expansion, providing strategic optionality across our international portfolio,” said Mohd Redhani Abdul Rahman, Vice President of International Assets, Petronas.
Petronas said the partnership aligns its offshore exploration capability with OQEP’s regional expertise as part of its strategy to strengthen its upstream portfolio.
In 2025, Petronas reported discoveries in Malaysia’s Lebah Emas producing well and Suriname Block 52 as part of its international exploration activities.