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Oman’s global energy investment group, OQ, has signed two memoranda of cooperation with the Republic of Angola to explore joint projects across the energy and industrial sectors. The agreements were finalized during a royal visit to strengthen economic and investment ties between the two nations.
The first memorandum, signed by OQ Group CEO Ashraf Hamed Al Mamari and Sonangol Chairman and CEO Sebastião Pai Querido Gaspar Martins, establishes a framework for collaboration across the energy value chain. Potential areas of focus include upstream exploration and production, liquefied natural gas, fertilizers, petrochemicals, and the supply of commodities.
A second memorandum was signed between OQ Alternative Energy and Angola’s Ministry of Energy and Water, represented by Minister João Baptista Borges. This agreement aims to evaluate the development of approximately 500 megawatts of renewable energy generation, supported by a battery energy storage system, utilizing an independent power producer commercial model.
Minister Borges stated that the partnership reflects a shared long-term vision between Angola and Oman, aiming to stimulate sustainable investment and infrastructure development. Al Mamari noted that the agreements represent a milestone in OQ’s strategy to expand its international presence and identify economically viable projects in Africa.
Martins added that the framework allows Sonangol and OQ to assess opportunities that align with both companies’ strategic objectives and Angola’s broader energy development priorities. OQ currently maintains a commercial presence in Africa through its existing subsidiaries and intends to use these new agreements to further expand its investment portfolio on the continent.
Article source: gulfnews.com | Image credit: gulfnews.com
