The Sultanate of Oman signed a memorandum of understanding (MoU) with the Republic of Türkiye to strengthen partnership, technical cooperation, and investment in the energy sector.
The MoU was signed by Eng. Salim Nasser Al Aufi, Oman’s minister of Energy and Minerals, and Alparslan Bayraktar, Turkish minister of Energy and Natural Resources.
This agreement encompasses areas of collaboration in the oil and gas sectors, trade in liquefied natural gas (LNG), renewable energy, energy efficiency, alternative fuels, green hydrogen, and carbon capture technologies, Oman News Agency (ONA) reported.
Additionally, the MoU provides for the exchange of expertise and technology, cooperation in developing joint projects, and organizing technical events aimed at achieving shared goals of sustainable development and transitioning to clean energy.
Moreover, the MoU facilitates the exchange of information and expertise, the development of regulatory policies that promote energy efficiency, and the exploration of opportunities for financing and innovative technologies related to the production, storage, and transportation of green hydrogen.
This agreement reaffirms Oman’s commitment to enhancing international partnerships in the energy sector and expanding areas of cooperation with friendly nations, with the primary aim of achieving common interests and supporting national efforts to meet carbon neutrality goals, thereby strengthening the Sultanate of Oman’s position as a regional energy hub.
Growing trade relations
On the economic front, Oman and Türkiye are strengthening their bilateral relations. In May 2025, Oman exported $34.9 million and imported $20.8 million from Türkiye, resulting in a positive trade balance of $14.1 million. Between May 2024 and May 2025, Oman’s exports to Türkiye decreased by $5.02 million (12.6 percent) from $39.9 million to $34.9 million, while imports dropped by $6.85 million (24.8 percent) from $27.7 million to $20.8 million, according to Trading Economics.
In May 2025, Oman exported $34.9 million to Türkiye, marking a 12.6 percent decline from May 2024, when trade totaled $39.9 million. Over the past five years, trade has grown at an annualized rate of 2 percent. Due to the decline in global oil prices, Türkiye’s trade volume with Oman decreased in 2015 and 2016 (compared to 2013 and 2014), but in 2017, bilateral trade volume began to rise again. By the end of 2018, the bilateral trade volume had gained significant momentum, reaching $489 million, which represented a 55 percent increase compared to the 2017 trade volume of $316 million.
