HomeMiddle East Market ›Oman Inks Two Hydrogen Pacts Worth USD 10 Billion at Second Round of Tender

Oman Inks Two Hydrogen Pacts Worth USD 10 Billion at Second Round of Tender

The second deal involves the Hyport Duqm joint venture which is made of Belgium's DEME and Oman's energy company OQ.

June 26, 2023. By Nivedita Ojha

Oman signs two hydrogen pacts for USD 10 billion, begins the second round of tender Oman's energy minister Al Aufi and representatives of Hyport Duqm sign a deal for a green hydrogen project in Oman.

Oman inked two more deals for the progression of green hydrogen projects in the Duqm area with a calculated investment value of around USD 10 billion and introduced the second round of the continuing auction.

A joint venture managed by South Korea's POSCO and French energy firm Engie SA signed the first agreement which mainly applied to tap the power of around 5 GW of wind and solar energy in Al Wusta Governorate to produce 200,000-220,000 tonnes of hydrogen.

The second deal involves Hyport Duqm joint venture which is made of Belgium's DEME and Oman's energy company OQ.

The inked agreement contains the first stage of a project that is being made for some time and intends to generate around 50,000 tonnes of hydrogen and ammonia in the Duqm free zone.

Hydrom awarded three projects for green hydrogen production in the Duqm area as part of this round. The projects with an estimated investment cost of about USD 20 billion will be built on an area of 960 square kilometers (370 square miles).

Al Aufi stated, the qualification process will be for two to two and a half months and the round will be completed by the end of the first quarter of 2024.

The land plots bagged for hydrogen production in the first round of the tender will ascertain that Oman will achieve its target to produce around 1 million tonnes of green hydrogen by the end of this decade.

Al-Aufi added, “We will be surveying the routes and looking into what are the most optimum options to bring the total cost of producing hydrogen as low as possible and make the projects that are producing green hydrogen and ammonia in Oman as competitive as they can be.”
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