22 August 2024
BP joined the HYPORT Duqm project in Oman, to partner with DEME and OQ
HYPORT Duqm is being developed on an area of 150 km² within the Special Economic Zone at Duqm in Oman. The production of green hydrogen to green ammonia will be powered by both wind and solar energy, with a combined capacity of approximately 1.3 GW under Phase 1 and potentially more than 2.7 GW upon completion of Phase 2.
The green molecules that will be produced in the project, are planned to be exported into European and Asian markets.
In June 2023, DEME and its development partner OQ, the leading global integrated energy group in Oman, signed a Project Development Agreement with Hydrom, which represents Oman’s national interest in green hydrogen and is regulated by the Ministry of Energy and Minerals.
Now, DEME and OQ reached an agreement to have bp as an equity partner and operator in the HYPORT Duqm project. Bp will acquire a 49% stake, while OQ and DEME will each maintain a 25.5% stake in the project company.