NEWS

His Majesty Sultan Haitham bin Tarik and President Duma Gideon Boko of the Republic of Botswana, presided over the signing of several cooperation agreements at Al Barakah Palace. The signing ceremony took place during the working visit of the President of Botswana to the Sultanate of Oman.

The agreements cover mineral exploration, the development and operation of petroleum product storage facilities, and the development, construction, and financing of a solar power plant.

Abdulsalam Mohammed Al Murshidi, President of the Oman Investment Authority (OIA), said that these new agreements with Botswana embody Oman’s economic diplomacy, for which OIA serves as an executive arm. He noted that their success opens the door to strengthening strategic relations with nations and establishing qualitative partnerships for the Authority and its companies abroad, while simultaneously contributing to attracting foreign investments into local sectors.

The OIA President added that the relationship with Botswana represents a model of mutual trust between the two parties, having evolved at a rapid pace from initial meetings in July 2025, and the subsequent establishment of diplomatic relations, to mutual visits that have been translated into investment agreements and projects.

The signing of an agreement by OQ, the global integrated energy group, and Botswana Oil to evaluate strategic cooperation prospects aims to enhance fuel security and support the development of an integrated supply and storage infrastructure in Botswana and its surrounding region. This follows on from an investment cooperation agreement concluded on November 25, 2025, establishing a structured framework for cooperation in technical, commercial, and regulatory fields. Under this agreement, both parties will work to develop opportunities to reach an economic feasibility study and formulate an agreed commercial structure, including the evaluation of product supply arrangements.

OQ and Botswana Oil will assess the feasibility of creating an integrated platform combining coastal import and storage solutions with inland strategic stocks—a model intended to solidify security of supply and improve supply chain efficiency in order to meet Botswana’s long-term fuel needs.