bp has revealed it will acquire a 49% stake in a 2.7GW hydrogen and ammonia production project in Oman, dubbed Hyport Duqm.
Announced during the oil and gas major’s latest quarterly results report, bp signed the agreement on June 13 (2024) with OQ and Dredging, Environmental and Marine Engineering (DEME) to purchase the stake in project Duqm – subject to regulatory approvals.
Whilst bp stated that the initiative could produce up to 57,000 tonnes of green hydrogen per year, H2 View reported last year that it will produce more than 650,000 tonnes a year of green ammonia for export, once it completes its second phase.
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