OQ Exploration and Production (OQEP), Oman’s exploration and production company, has released its financial results for the first half of the fiscal year ending June 30, 2025.

The company reported a revenue of OMR 428.1 million ($1.1 billion) and an EBITDA of OMR 317.4 million ($825.6 million).

Notably, the adjusted cash flow from operations saw a 20 per cent increase, reaching $752.1 million.

The return on capital employed for the first half of 2025 stood at 24.4 per cent, with a notable rise to 25.8 per cent for the second quarter, reflecting a significant improvement from 22.1 per cent in the first quarter.

OQEP also reported a robust cash balance that grew by 31 per cent to $546.6 million, compared to $416.5 million in the first half of 2024, while maintaining a low leverage ratio of 0.27 times EBITDA.

The company declared a quarterly base dividend of $150 million for Q2 2025, set to be paid in September.

Furthermore, the Board proposed a similar dividend for Q3 2025, with payment scheduled for November.

Additionally, the Board introduced a Performance Linked Dividend (PLD) for H1 2025 amounting to $114.9 million, which will be distributed in two equal installments in September and November.

To enhance shareholder returns, a share buyback programme of 45-60 million shares has also been announced.

On the operational front, total production remained stable at 222.3 kboepd, with oil and condensate contributing 120.1 kboepd and gas at 102.3 kboepd.

This reflects a slight decrease in oil production compared to H1 2024, while gas production showed a marginal increase.