Oman's Green Hydrogen Ambitions: HyDuqm LLC Project Development and PTTEP's Energy Investments
Key Ideas
  • HyDuqm LLC, a joint venture involving six global companies, aims for a Final Investment Decision in 2027 and production start in 2030 for a significant green hydrogen and ammonia project in Oman.
  • The project, part of Oman's green hydrogen economy, targets an annual capacity of 1.2 million tonnes of green ammonia, emphasizing clean energy production from green hydrogen.
  • PTTEP, through its subsidiary FTEV's involvement in HyDuqm, expands its presence in Oman's energy sector, aligning with green energy production and exploration investments in the country.
  • Oman's Ministry of Energy and Minerals extending exploration and production agreements in key blocks, alongside PTTEP's upstream investments, highlight the growing energy partnerships in the region.
Hydrogen Duqm LLC (HyDuqm) is among Oman's large-scale green hydrogen and ammonia projects, targeting a Final Investment Decision in 2027 and production commencement by 2030. The joint venture, involving global companies such as POSCO Holdings and Samsung Engineering, aims to develop a project in Al Wusta Governorate with an annual capacity of 1.2 million tonnes of green ammonia. PTTEP's subsidiary, FutureTech Energy Ventures Limited (FTEV), is part of this venture, reflecting PTTEP's expansion in Oman's energy industry and green hydrogen production. The ongoing feasibility study focuses on assessing renewable energy potential, profitability, and environmental impacts, crucial for the project's engineering design phase. Additionally, PTTEP's investments in Oman's oil and gas sector, including significant stakes in Block 61 and Block 53, illustrate the company's diverse energy portfolio in the region. The article also highlights PTTEP's exploration activities in onshore natural gas blocks and its stakes in Oman LNG and Qalhat LNG. Overall, the developments signify Oman's ambitions in green hydrogen and renewable energy, alongside growing energy partnerships and investments in the country.
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