BP sees multi-billion dollar investment in Oman green energy project
- Date: 24-Mar-2022
- Source: Zawya
- Sector:Financial Markets
- Country:Oman
BP sees multi-billion dollar investment in Oman green energy project
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MUSCAT: Energy major BP says a proposed green hydrogen project currently under study for potential development in the Sultanate of Oman is envisaged at several gigawatts (GW) of electricity generation capacity, with investment estimated in the “billions” of dollars.
Yousuf al Ojaili , President – BP Oman, said the project, when eventually implemented, will position the Sultanate of Oman among five major clean energy hubs planned by BP around the globe.
“BP is looking at Oman as one of five clean energy hubs worldwide that BP would like to establish.
Why Oman? It’s the strong wind and strong solar capacity in the country, but also because BP has been a very successful investor, welcomed by the government, has an excellent relationship and good project delivery. Our project in Oman will be in gigawatts — we have not yet estimated the total capacity — but it will be significant hopefully, and in gigawatts, and therefore the investment will be in billions'', Al Ojaili stated.
Speaking during an Executive Plenary Session at the SPE Conference held as part of the Oman Petroleum & Energy Show (OPES) on Tuesday, BP’s top executive in Oman said the local venture is one of a large portfolio of clean energy