In response to the growing demand for environmentally sustainable solutions in the oil and gas sector. In this study, three nanocomposites, namely Arabic gum silica oxide (ASO), Arabic gum iron oxide (AIO), and Arabic gum iron silica oxide (AIS), were synthesized. Spectroscopic analyses confirmed the chemical composition of these nanomaterials, while visual inspection and dynamic light scattering (DLS) analysis were employed to evaluate their particle size distribution and stability. It was found that ASO demonstrated a significant 26.8% increase in oil recovery compared to pure Arabic gum (15.6%) when applied at a concentration of 5 wt.% during CO2 foam flooding. This enhancement can be attributed to the high foam volume (134.1 mL) and prolonged drainage half-life (3562.5 s) at 30 °C. Furthermore, ASO displayed favorable interfacial tension (32.21 mN/m) and a superior storage modulus (10−27 mN/m) compared to pure Arabic gum (10−28 mN/m and 46.13 mN/m, respectively), indicating enhanced elasticity and improved stability of bubble-lamellae, ultimately resulting in enhanced oil recovery. Conversely, AIO nanocomposite exhibited a negative impact on recovered oil (4.8%), attributed to its low stability (zeta potential: −3.6 mV). These findings underscore the potential of ASO as a promising foaming agent for efficient oil recovery processes.