Oman’s OQ Exploration and Production (OQEP) launched the Oman share buyback programme to deliver greater value to its shareholders. This decision followed regulatory approval and signals the company’s confidence in its long-term financial outlook.
To begin with, OQEP’s approved stock repurchase initiative will start in two weeks, following market and regulatory guidelines. The company plans to buy back between 45 million and 60 million shares. It expects to finish the repurchase either within six months or upon reaching the full target.
This action comes after shareholder approval at an extraordinary meeting. The board revised the company’s articles of association to permit share repurchases. As a result, the Oman share buyback programme gives OQEP new flexibility in capital returns and investor rewards.
Moreover, this initiative complements OQEP’s broader capital return strategy. Along with a base dividend of 231 million rials, the company distributes performance-based dividends. Combined with the share repurchase plan, these efforts support investor confidence and reinforce financial stability.
CEO Ahmed Said Al Azkawi emphasized the importance of this move. He explained that OQEP uses three tools to create shareholder value: fixed dividends, performance-linked payouts, and the Oman share buyback programme. These efforts build confidence and highlight the company’s stable position.
Furthermore, OQEP remains focused on long-term priorities. It continues to pursue operational efficiency, manage its investment portfolio, and maintain reliable cash flows. Each of these supports the broader goals behind the Oman share buyback programme and reinforces shareholder returns.
In addition, Al Azkawi confirmed that capital returns will not slow future expansion. OQEP balances value distribution with strategic growth. This strengthens investor confidence and supports sustainable development.
By implementing its share repurchase plan, the company delivers a clear signal to the market. It demonstrates confidence in its financial strength and attracts investor attention by increasing both earnings per share and overall stock value.
In conclusion, OQEP’s stock repurchase strategy demonstrates a thoughtful and future-oriented approach to managing capital. It boosts investor confidence, strengthens financial stability, and encourages broad-based growth.
