BP to acquire 49% stake in Hyport Duqm green hydrogen project in Oman

Belgium-based offshore energy and dredging contractor DEME and Omani energy company OQ have reached an agreement to have UK energy major BP as an equity partner and operator in the Hyport Duqm green hydrogen project in Oman.

BP will acquire a 49% stake, while DEME and OQ will each maintain a 25.5% stake in the project company. The transaction will be completed in Q3 2024.

According to DEME, the production of green hydrogen to…