BP has signed an agreement with Oman’s Ministry of Energy and Minerals to kickstart the development of multi-gigawatt wind, solar and green hydrogen projects by 2030.

BP will collect and analyse wind and solar data from 8,000km² of land with the aim of setting up renewable energy hubs at promising locations. The company also expects to produce green hydrogen at these hubs for export and domestic use.

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

Oman and BP plan to further collaborate on renewable energy strategy, regulation, and local workforce training and reskilling. Omani energy minister Mohammed al-Rumhy says the agreement “signals the next step in our energy journey—unlocking the potential for Oman as a low-carbon energy hub”.

20pc – 2030 target for renewables’ share of energy consumption

The partnership comes amid a flurry of interest in Oman as a potential player in the green hydrogen and ammonia market, despite its low level of renewables development to date.

Although Oman is one of the Middle East’s largest hydrocarbons producers, it plans to reduce its dependence on oil as part of its ‘2040 Vision’ economic strategy.

Oil revenues contribute 39pc of GDP, but the government aims to reduce this to 16.1pc in 2030 and 8.4pc in 2040. And while only seven years ago the country had no renewable energy consumption, Oman aims to increase the percentage of renewables in total energy consumption to 20pc by 2030 and 35-39pc by 2040.

---

Author: Polly Martin