Oman teams up with BP for multi-gigawatt renewables and hydrogen capacity by 2030
Partnership will explore development of green H2 from Sultanate for domestic use and export
BP has formed a strategic partnership with Oman to progress a potential multi-gigawatt renewable energy and green hydrogen development by 2030.
The UK oil & gas supermajor and the government of the Arab country plan to cooperate in a number of areas, including a renewables strategy, regulation, the establishment of a renewable energy hub and the development and reskilling of the local workforce.
BP as part of a Renewables Data Collection Agreement will also capture and evaluate solar and wind data from an 8,000 square kilometre area to help support Oman in evaluating and approving the development of future renewable energy hubs.
These hubs could also potentially be used for the development of green hydrogen, both for domestic use and for export.
“These projects will build on our gas business, and bring wind, solar and green hydrogen together in a distinctive and integrated way supporting Oman’s low carbon energy goals,” said BP chief executive Bernard Looney.
“And we’re not just investing in energy. We are investing in Oman to create and develop infrastructure, support local supply chains and cultivate the skills and talent needed to usher in this next generation of energy leaders.”
“In partnership with BP, we will progress the development of new, world-class solar and wind resources – generating renewable power for the grid and powering the manufacture of green hydrogen to supply domestic demand and to export to global customers,” he added.
“Over the past 50 years, we’ve advanced our hydrocarbon production. Today’s agreement signals the next step in our energy journey – unlocking the potential for Oman as a low-carbon energy hub.“
Oman last week had already signed an investment partnership with the UK that has a strong emphasis on clean energy and technology.
“Following the signing last week of the UK-Oman Sovereign Investment Partnership, this investment by BP into Oman’s renewable energy sector is a shining example of our countries’ joint ambition to facilitate strategic and commercial bilateral investment,” the UK’s Minister for Investment, Gerry Grimstone, said on Monday.
British foreign direct investment accounted for nearly 50% of all international flows to Oman in recent years, according to the Omani National Centre for Statistics and Information, while 2021 data from the UK’s Department of International Trade currently values the trading relationship between Oman and the UK at £1bn ($1.37 billion) per year.