Okyu Exploration Launches $2B Sukuk Program
OQ Exploration and Production Company has launched an international Sukuk program worth $2 billion to strengthen its financial resilience and broaden its options in the global debt markets. The program is designed to establish a framework for future Sukuk issuances, with the potential to list them on the London Stock Exchange, without currently requiring any actual funding or adjustments to existing business plans. The company confirmed that this move is part of its strategy to diversify funding sources and support its future plans, despite experiencing a 10.22% decline in annual profits in 2025, totaling 293.19 million riyals ($760.17 million).
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