PC Oman Ventures, a wholly owned subsidiary of Petronas, signed a concession agreement with the Government of the Sultanate of Oman and OQ Exploration and Production Batinah Offshore (OQEP) to explore oil and gas (O&G) resources in Block 18. Block 18, which covers more than 21,000km² in north-east Oman, consists of offshore areas ranging from shallow to ultra-deep water. The arrangement builds on a memorandum of understanding signed between Petronas and OQEP in October 2025. Petronas has operated in Oman since 2018 and currently holds a stake in Block 61. The partnership intends to combine Petronas’ offshore exploration experience with OQEP’s regional knowledge. The companies aim to develop the area’s hydrocarbon resources and strengthen their long-term collaboration in Oman.