UK energy giant BP will acquire a 49% stake in Hyport Coordination Company (Hyport Duqm), one of Oman’s first green hydrogen development companies MEED reports.
BP said in its H1-2024 financial report that it recently signed an agreement with Oman’s state-backed energy company OQ and Belgium’s Dredging, Environmental & Marine Engineering (Deme) to acquire a 49% stake and operatorship in the Hyport green hydrogen project in Duqm, Oman.
Hydrogen will be produced from desalinated water and converted into green ammonia, which will be stored and shipped from the Port of Duqm to target export markets. One of the ongoing projects entails a green hydrogen and green ammonia production facility with a 500MW electrolysis capacity on a site of 793,000sqm.
The renewable energy farms will be located in the Special Economic Zone at Duqm’s (Sezad) renewable energy area, where a site of 150sqkm has been allocated.
