OQGN acquires gas pipeline in Block 61 for RO40mn

03/12/2025 05:32 AST

OQ Gas Networks (OQGN), the sole operator of Oman's natural gas transportation network, has signed an agreement to acquire a gas transportation pipeline in Block 61, which hosts the Khazzan and Ghazeer gas fields, for nearly RO40mn.

The company signed an Asset Transfer Agreement with the Ministry of Energy and Minerals and the Ministry of Finance to acquire the 36-inch gas transportation pipeline of Block 61 (Ghazeer Phase-2) for RO39.991mn, OQGN said in a disclosure submitted to the Muscat Stock Exchange on Tuesday.

The new pipeline will be added to OQGN's Regulated Asset Base (RAB), the company said.

'This acquisition will add 65 kilometres to OQGN's gas network. It will strengthen the consolidation of national gas transportation assets and support the company's strategic ambition to lead the development of energy infrastructure in the sultanate,' the company added.

OQGN holds a natural monopoly over critical gas transportation infrastructure in Oman as the exclusive owner and operator of the natural gas transmission network (NGTN). The company aims to champion the management and development of the NGTN through innovative and sustainable solutions.

OQGN currently manages more than 4,000km of pipeline infrastructure across Oman, supplying gas to a wide range of industries, including power generation, water desalination, cement and aluminium production, fertiliser manufacturing, and petrochemical plants.


Muscat Daily

News

OQGN gets IGC approval for 193km Fahud-Suhar gas pipeline project

04/08/2025

Integrated Gas Company (IGC), the state-owned entity overseeing Oman's entire gas supply chain, has announced its approval for the implementation of a major new gas pipeline project to meet the grow

Muscat Daily

World Bank report lauds Oman's strong economic performance

23/06/2025

The World Bank's 2024 Gulf Economic Update report highlighted that the Sultanate of Oman has achieved significant positive fiscal and economic results despite regional and global challenges.

Times of Oman

Most Viewed Companies

Ticker Price Volume

Valuation

OQGN Sector Market
P/E
Price/BookValue

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
OQEP 0.50 0.01 (2.04%)
OTEL 1.54 0.01 (0.65%)
ABRJ 0.46 0.00 (0.00%)
PHPC 0.22 0.01 (4.76%)
ORDS.MSM 0.37 0.00 (0.00%)

Recent News

Aamal Company plans new investments this year; growth prospects 'very bright' across sectors

22/04/2026

Aamal Company is making new investments this year as it finds growth prospects across all its business divisions as "very bright"

"Given the relative stability of Qatar`s economic landscape

Gulf Times

UDC posts QR71mn net profit on QR459mn revenues in Q1

22/04/2026

United Development Company (UDC) reported a net profit of QR71mn on revenues of QR459mn in the first three months of 2026.

The net profit attributable to the equity shareholders stood at QR7

Gulf Times

Gulf Bank launches a special offer for Kuwaiti Salary Account customers

22/04/2026

Gulf Bank has launched a special offer for Kuwaiti government salary account customers, through which customers can receive a cash welcome gift of up to KD 1,200 when transferring their salary to Gul

Kuwait Times

Nakilat reports $120.43m net profit for Q1

22/04/2026

Qatar Gas Transport Company (Nakilat) achieved a net profit of QAR439 million ($120.43 million) for the first quarter ended March 31, 2026, compared to QAR433 million for the same period of 2025.

Trade Arabia

GWC posts steady Q1 profit despite supply chain disruption

22/04/2026

Qatar-based Gulf Warehousing Company (GWC Group) has reported a net profit of QR33.7 million ($9.3 million) for the first quarter of 2026, while its gross revenues hit QR318 million ($86.3 million),

Trade Arabia

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap