A Quarter Century of Strength and National Contribution
It is my privilege to present the Annual Report for the year ended December 31, 2025, marking the 25th anniversary of OQGN. This milestone reflects not only the longevity of our operations, but the strength of our governance, the resilience of our business model, and our consistent ability to deliver value in an evolving global energy landscape. Indeed, OQGN has evolved from a traditional gas network operator into a modern national infrastructure company grounded in safety, reliability, and disciplined value creation.
Consistent Performance in a Changing Environment
Amid continued global uncertainty, OQGN has remained a predictable and stable platform for investors. The Company delivered steady financial performance in 2025 and maintained an attractive dividend profile, reinforcing the reliability of its regulated revenue model. This balance enables us to reward shareholders while retaining flexibility to support future strategic priorities. Market performance during the year reflected growing investor confidence, with improved liquidity and a broader shareholder base. These developments underscore recognition of OQGN’s resilient cash flows, low-risk profile, and clearly defined long-term strategy.
Strong Foundations for Sustainable Growth
Our 2025 results demonstrate the strength of regulatory frameworks underpinning our operations and the stability of our core business. Performance continues to be supported by resilient national gas demand and a transparent, predictable revenue model, complemented by prudent financial management. Furthermore, OQGN’s long-term outlook remains closely linked to its central role in supporting Oman’s economic development, industrial growth, and energy security. As the Sultanate advances its diversification agenda, our network will continue to provide the dependable infrastructure required to enable investment across strategic sectors.
Positioned for the Energy Transition
The world’s rapidly evolving energy landscape presents both responsibilities and opportunities. While natural gas will remain a key component of Oman’s energy mix for the foreseeable future, we recognize that the long-term trajectory will change. Our strategy therefore focuses on two priorities:
1) Delivering secure and efficient supply today, and
2) Preparing for future energy pathways aligned with national policy and regulatory direction.
By maintaining a future-ready infrastructure platform and strengthening our operational capabilities, we enhance resilience and long-term competitiveness while preserving the stability valued by our investors.
Looking Ahead
As OQGN enters its next 25-year chapter, the Company is well positioned to build on strong fundamentals and continue delivering sustainable long-term value. Our priorities remain clear: safeguard performance stability, strengthen infrastructure resilience, and pursue disciplined growth opportunities that create lasting shareholder and national impact.
Acknowledgements
On behalf of the Board, I extend our sincere appreciation to His Majesty Sultan Haitham bin Tariq for his visionary leadership and continued support. We also thank our employees, regulators, customers, and shareholders for their trust and partnership in advancing OQGN’s progress.
Ayad Al Balushi
Chairman
