Newly-formed Oman Brunei Asset Management is seeking international partners as it aims to expand and diversify its portfolio, which currently consists of five Boeing 737-900 ER planes.

The company aims to appoint a partner before the end of 2017, according to Qais Abdullah al-Kharusi, CEO of Oman Brunei Investment Company.

It is understood the firm is in discussions with mostly European aircraft leasing companies.

The appointed international partner is expected to provide the firm, formed in 2015, with technical expertise in addition to providing equity financing.

Its first five planes, estimated to be worth $250m, are on a 10-year dry lease with national carrier Oman Air.

The planes were financed using both equity and debt raised from local banks, according to Al-Kharusi.