01 September 2024

DEME, a key Dutch contractor in the fields of offshore energy, dredging and marine infrastructure, and OQ, the leading global integrated energy group in Oman, have joined forces with global oil major bp to develop the first operational, large-scale green hydrogen project within the Special Economic Zone at Duqm.

For the Hyport Duqm project, bp has been signed up as an equity partner and operator. As per the deal inked with DEME and OQ, bp will acquire a 49 per cent stake, while OQ and DEME will each maintain a 25.5 per cent stake in the project company.

The agreement will enable bp to become part of the green hydrogen project situated in the Special Economic Zone at Duqm (Sezad), Oman. The transaction will be completed in the third quarter of 2024.

Currently, the Hyport Duqm project is in the pre-front-end engineering design phase, with the commercial operations date set for 2030-2031.

The first operational, large-scale green hydrogen project in Oman, Hyport Duqm is being developed on an area of 150 sq km within the Special Economic Zone at Duqm in Oman.

According to DEME, 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 One and potentially more than 2.7 GW upon completion of Phase Two.

The downstream operations plan is to be fully integrated 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, it added. 

• Kooheji sets Bahrain’s record pour of 2024 at Onyx Skyview
• Progress on Green hydrogen project
• New homes launched at Marassi Al Bahrain
• Douglas OHI in deal for Sultan Haitham City building
• Top developers in race for mega Kuwait solar project
• First transformer installed in Egypt-Saudi power grid project
• Kuwait-Saudi rail link project set to be launched in 2026

Tags

Makkah & Madinah Leisure Facilities Made in Saudi Saudi Infrastructure Expo Focus: Forex Risk Just Out TechTalk Legally Bound Regional News Saudi Focus UAE Focus Events Tenders Manufacturers & Procurement

Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.