The British oil and gas giant BP is joining the Belgian dredging company DEME’s prestige hydrogen project in Oman. The company reported the latest news in a press release on Wednesday. DEME previously agreed with the Egyptian government to build a green hydrogen factory in Egypt.
BP will become an equity partner and developer of the so-called ‘Hyport’ project in the Omani port city of Duqm. BP will acquire a 49% stake, while DEME and global integrated energy company OQ in Oman will each maintain a 25.5% stake. The agreement amounts are unknown. The transaction will be completed in Q3 2024.
Special Economic Zone
Hyport Duqm will be developed on a 150-square-kilometer site in the Special Economic Zone in Duqm (in Oman). Wind and solar energy will power the production of green hydrogen into green ammonia.
The downstream operations plan is to fully integrate with the state-of-the-art infrastructure at the Port of Duqm to handle green molecules and channel them for export into European and Asian markets.
The molecules could be applied across several industries on their path to sustainable decarbonization. Currently, the project is in the pre-front-end engineering design phase, with the commercial operations date scheduled for 2030-2031.
Expertise
In June 2024, DEME signed a milestone Cooperation Agreement with the Egyptian government to establish an industrial-scale green hydrogen production facility in Egypt’swestern desert. DEME will use the knowledge gained from developing Oman’s pioneering HYPORT Duqm green hydrogen project to apply its expertise to this innovative second facility.
DEME is a leading contractor in offshore energy, environmental remediation, dredging, and marine infrastructure. The company can build on nearly 150 years of experience and is a front-runner in innovation and new technologies.
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