The memorandum with Sonangol establishes a framework to identify and assess areas of mutual interest
OQ, Oman’s global energy investment group, has recently signed two memoranda of cooperation to explore opportunities for collaboration across a range of energy and industrial sectors, strengthening economic and investment ties between Oman and the Republic of Angola.
The memoranda were signed by Ashraf Hamed Al Mamari, Group Chief Executive Officer, OQ; HE João Baptista Borges, Minister of Energy and Water of the Republic of Angola, signed the renewable energy memorandum on behalf of the Ministry; Sebastião Pai Querido Gaspar Martins, Chairman and Chief Executive Officer, Sonangol, Angola’s national oil company.
The memorandum with Sonangol establishes a framework to identify and assess areas of mutual interest across the energy value chain. Potential areas of cooperation include upstream exploration and production, liquefied natural gas (LNG), and fertilisers, as well as gas monetisation opportunities including ammonia and petrochemicals and the potential supply and purchase of commodities.
Framework
A second memorandum between OQ Alternative Energy (OQAE) and Angola’s Ministry of Energy and Water establishes a framework to evaluate and advance the potential development of approximately 500 MW of renewable energy generation, alongside a battery energy storage system (BESS), under an independent power producer (IPP) commercial model in Angola.
This strategic cooperation with OQ reflects the depth of the distinguished partnership and shared long-term vision between the Republic of Angola and Oman,” commented HE Borges.
Strategic international partnerships
“The memoranda reflect OQ’s approach to building strategic international partnerships that contribute to growth, strengthen Oman’s presence in global markets and enhance value creation across the energy sector,” added Al Mamari.
“This memorandum provides Sonangol and OQ with a framework to explore potential areas of cooperation that can create sustainable growth while adding economic value for both companies,” noted Martins.
