Oman to Pursue Divestment Away from Oil Through bp Partnership - Smart Energy Decisions

Sourcing Renewables  -  January 18, 2022

Oman to Transition Away from Oil to RE Production With bp Partnership

Oman plans to add multiple gigawatts of renewable energy and green hydrogen generation capacity within its borders and has recruited bp to take the project on.

The country’s Ministry of Energy and Minerals signed a Strategic Framework Agreement (SFA) and a Renewables Data Collection Agreement with bp, through which the energy company will capture and evaluate data from 8,000 square kilometers of lands for its suitability to house renewable energy developments.

“This is a proud moment for Oman and a significant step towards delivering our 2040 Vision,” Dr. Mohammed Al Rumhy, Minister of Energy & Minerals of the Sultanate of Oman, said in a statement. “In partnership with bp, we will progress the development of new, world-class solar and wind resources – generating renewable power for the grid and powering the manufacture of green hydrogen to supply domestic demand and to export to global customers. Over the past 50 years, we’ve advanced our hydrocarbon production. Today’s agreement signals the next step in our energy journey – unlocking the potential for Oman as a low-carbon energy hub.“

This development will help Oman progress toward its 2040 Vision of becoming a producer of low-carbon energy, stepping away from its legacy as a leader in oil and gas. It would further support the government’s efforts to diversify its economy and attract investment.

Keywords: BP

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