Thailand’s national oil and gas exploration and production company, PTT Exploration and Production Public Company Limited (PTTEP), has entered into a partnership with OQ Exploration & Production (OQEP), the upstream division of Oman’s energy group OQ, to explore collaboration opportunities in the upstream energy sector domestically and internationally. The agreement was formalized through a Memorandum of Understanding (MoU) signed recently in Muscat by PTTEP’s Chief Executive Officer Montri Rawanchaikul and Mahmoud al Hashmi, CEO of OQ Exploration and Production New Ventures LLC (OQEP).

The agreement outlines cooperation in sharing technical expertise, experience, and best practices, alongside initiatives focused on human capital development, integrated digital solutions, and continuous operational improvements in upstream activities. PTTEP described the partnership as a reflection of the companies’ commitment to strengthening strategic ties and enhancing organizational capabilities for sustainable growth in the energy sector.

This latest MoU builds on existing relationships between the two companies. PTTEP and OQEP are current partners in several projects in Oman, including the large-scale Block 61 gas concession, where OQEP holds a 30 percent stake and PTTEP 20 percent. Other collaborators in this project include BP and PETRONAS. PTTEP also maintains a 2 percent interest in Block 6—the country’s largest producing onshore oil field operated by Petroleum Development Oman (PDO)—and a 1 percent stake in Block 53 in southern Oman, which contains the heavy oil Mukhaizna field operated by Occidental Petroleum.

In the midstream sector, PTTEP holds a 2 percent stake in Oman LNG and an indirect 0.7 percent interest in Qalhat LNG, facilities that together have a combined annual production capacity of 11.4 million tonnes.

OQEP’s partnership with PTTEP aligns with its broader international expansion strategy. In October, OQEP signed a separate MoU with Petronas Carigali International Ventures (PCIV), a subsidiary of Malaysia’s Petronas, to jointly explore upstream oil and gas opportunities across the Middle East and Southeast Asia. Subsequently, a Joint Operating Agreement and concession agreement were signed for offshore Block 18 in northeastern Oman, with Petronas holding a 70 percent operating stake and OQEP 30 percent.

In addition, OQEP entered a tripartite exclusivity agreement in July with Oman’s Ministry of Energy and Minerals and Turkish Petroleum Corporation (TPAO) to evaluate selected oil and gas blocks in Oman. It also signed an Exploration and Production Sharing Agreement (EPSA) with UK-based Genel Energy and the Ministry of Energy and Minerals to develop Concession Area 54 (Karawan Concession) in Al Wusta Governorate. Under this agreement, OQEP is the operator with a 60 percent interest, while Genel Energy holds the remaining 40 percent.

The partnership between PTTEP and OQEP is part of ongoing efforts by national energy firms to strengthen their global presence through strategic alliances and operational synergy within the upstream oil and gas sector.