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A recent deal between DEME and OQ calls for bp to get involved as both an operator and an equity partner in the HYPORT Duqm project. OQ and DEME will each retain a 25.5% share in the project firm, while bp will acquire a 49% stake. The deal is expected to conclude in the third quarter of 2024.
Within the Special Economic Zone at Duqm (SEZAD), Oman, HYPORT Duqm is being constructed on a 150 km2 area. Wind and solar energy will both be utilised to fuel the conversion of green hydrogen to green ammonia.
This project is expected to produce about 1.3 GW during Phase 1 and maybe more than 2.7 GW once Phase 2 is completed.
OQ, and DEME inked a Project Development Agreement in June 2023 with Hydrom, which is governed by the Ministry of Energy and Minerals and represents the country's interest in green hydrogen.
The project is now in the pre-front-end engineering design stage, with a 2030–2031 commercial operations date set. Green molecules are anticipated to be handled at the Port of Duqm and exported to markets in Asia and Europe.
Check the press release here- https://www.deme-group.com/news/deme-and-oq-join-forces-bp-hyport-duqm-project-oman
