Oman, Türkiye deal opens avenues in oil, gas and renewables
The agreement was inked in Muscat by H E Salim bin Nasser al Aufi, Oman's Minister of Energy and Minerals, and his Turkish counterpart Alparslan Bayraktar. It commits both sides to exchange expertise, align regulatory policies, explore joint projects and study financing options aimed at boosting efficiency and accelerating the transition to cleaner fuels.
Areas of collaboration include crude exploration, liquefied natural gas trade, renewable power, energy‑storage solutions and alternative fuels. A dedicated workstream will examine production, storage and transport of green hydrogen – an emerging focus for Oman's 2050 net‑zero drive.
'The MoU embodies the depth of our strategic relations and sets a platform for innovative partnerships in renewables, efficiency and low‑carbon technologies,' H E Aufi said.
He added that the pact supports Oman's ambition to become a regional hub for sustainable energy while attracting foreign direct investment.
Bayraktar described Oman as a 'key producer and exporter' and said the deal would unlock 'tremendous opportunities' in electricity generation, transmission and market liberalisation. He pointed to Türkiye's 2022 long‑term purchase agreement with Omani LNG and signalled Ankara's interest in expanding volumes and taking part in upstream projects.
Joint investment push
Bayraktar also met Abdulsalam al Murshidi, President of Oman Investment Authority, to review progress on the US$500mn Omani‑Turkish Joint Investment Fund established with Türkiye's state‑backed Oyak Fund.
The fund primarily targets investments in Oman and Türkiye, in addition to promising strategic opportunities worldwide, particularly in mining and metals, automotives, logistics, chemicals, agriculture and food and energy sectors.
Discussions covered exploring profitable growth opportunities in promising sectors that serve the economic interests of both countries, contribute to strengthening bilateral relations, and localising technologies and knowledge.
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