BP, Oman to explore renewable energy, green H2 development

UK oil-and-gas major BP Plc (LON:BP) said on Monday that it has signed a strategic framework agreement with Oman’s ministry of energy and minerals to support the potential development of “multiple gigawatt” renewable energy and green hydrogen project in the Middle Eastern country by 2030.

The project is expected to include onshore wind, solar and green hydrogen production. Under the agreement, BP’s role will be to capture and evaluate wind and solar data at an area spanning 8,000 square kilometres (3,089 sq miles).

The collected data will help inform the Omani government’s decision to approve the future development of renewable energy hubs at suitable locations within this area, which could be used to feed green hydrogen production for both domestic use and exports.

“Today’s agreement represents what BP is able to offer as an integrated energy company. 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,” commented BP CEO Bernard Looney.

The arrangement is subject to a final agreement on commercial terms.

BP has been present in Oman as a gas production investor since 2007.

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