DEME and OQ have announced their partnership with bp for the HYPORT Duqm project in Oman, with bp acquiring 49 per cent stake and serving as the operator and equity partner. DEME and OQ will each hold 25.5 per cent. The project is currently in the design phase and is anticipated to begin commercial operations by 2031.
Furthermore, HYPORT Duqm is a large-scale green hydrogen project in Oman which is being developed over 150 km² in the Special Economic Zone at Duqm. Under the new agreement, bp will join the project with the transaction expected to be finalised in Q3 2024.
The project will generate green hydrogen and ammonia using wind and solar energy, starting with a capacity of about 1.3 GW and potentially increasing to over 2.7 GW. The export of these green products to European and Asian markets, supporting downstream operations, will be conducted at the Port of Duqm.
In June 2024, DEME inked a Cooperation Agreement with the Egyptian Government to establish an industrial-scale green hydrogen production facility in Egypt’s western desert.
