Al Azkawi:
The Initial Public Offering (IPO) is in harmony with the country's economic diversification strategies and is designed to expand the ownership base within entities under government ownership.
Saif Al Badi:
The Omani Oil and Gas Company for Exploration and Production (OQEP) extends its gratitude to the government for its decision to make its companies available for the IPO.
Al Hashimi:
OQEP oversees thirteen strategic partnerships with international corporations engaged in the exploration and production of oil in concession areas.
Al-Naamani:
The allocation of 40% of the IPO to individual investors marks a significant increase from previous offerings, demonstrating a commitment to empowering citizens.
Ibri / September 2024
OQEP conducted an Initial Public Offering (IPO) roadshow in the Wilayat of Ibri, in collaboration with the Oman Chamber of Commerce and Industry (OCCI) in Al Dhahirah Governorate, as part of its comprehensive outreach strategy across all governorates of Oman. This event was graced by a multitude of businessmen and citizens.
Eng. Ahmed bin Said Al Azkawi, the Chief Executive Officer of OQEP, delivered a presentation that underscored the pivotal role of Initial Public Offerings (IPOs) in the economic revitalization of the nation.
In line with the directives issued by the Oman Investment Authority to divest from certain government assets, Al Azkawi highlighted the contribution of this offering to the diversification and expansion of the shareholder base. This initiative presents an opportunity for investors to partake in a leading entity specializing in the exploration and production of oil and gas in Oman.
Saif bin Said Al Badi, the Chairman of the Board of Directors for the OCCI in Al Dhahirah Governorate, emphasized the government's commitment to the empowerment of the private sector for economic growth.
Saif bin Said Al Badi also expressed the support of the Omani Oil and Gas Company for Exploration and Production (OQEP) in initiatives that stimulate both domestic and international investments, fostering opportunities for the Muscat Stock Exchange and contributing to the national economy. Al Badi noted that the inclusion of energy companies enhances the attractiveness of the stock exchange for investors.
Mahmoud bin Abdullah Al Hashimi, the Chief Operating Officer of OQEP, provided an overview of the company's capabilities, capacities, and strategic alliances with investment partners. Al Hashimi highlighted OQEP's role as the government's representative in the oil and gas exploration and production sector, committed to the maximization of Oman's natural resources and the leveraging of its valuable assets and global expertise.
Al Hashimi also pointed out that OQEP, on behalf of the government, manages partnerships with thirteen international firms involved in the exploration and production of oil in concession areas, serving as a testament to its exceptional capabilities and the trust it has earned.
Jaber bin Rashid Al Naamani, the Chief Financial Officer at OQEP, detailed the structure of the IPO and the anticipated advantages, particularly for the citizens. He highlighted the 10% discount offered to citizens as a means to encourage them to invest in profitable ventures, especially considering that 40% of the IPO is allocated to individuals, marking a significant increase from previous offerings.
Following the presentations, a question and answer session was facilitated.
