BP Plc announced on Tuesday that it will acquire a 49% interest in the gigawatt-scale Hyport green hydrogen project in Oman. The acquisition is from state-owned energy group OQ and Belgium's Dredging, Environmental and Marine Engineering NV (DEME).
The agreement, signed on June 13, is pending regulatory approval, according to BP's quarterly report.
The Hyport Duqm project was selected in the initial round of Oman's green hydrogen tender. Following this, DEME and OQ secured a usufruct agreement with Hydrogen Oman (Hydrom) and the Public Authority for Special Economic Zones and Free Zones (OPAZ). The project is anticipated to produce approximately 57,000 tonnes of green hydrogen annually.
In addition to this investment, BP is also advancing another green hydrogen project near Duqm, Al Wusta Governorate in southeastern Oman. The project is currently in the development phase, with data collection efforts underway using light detection and ranging (LiDAR) devices, solar stations, and meteorological masts.
