British multinational oil and gas company, bp, and Oman's Ministry of Energy and Minerals signed a Strategic Framework Agreement (SFA) and a Renewables Data Collection Agreement for multiple gigawatt, world-class renewable energy and green hydrogen development in Oman, by 2030, bp announced in a recent statement.
As part of the agreement, bp will capture and evaluate solar and wind data from 8,000 square kilometers (km2) of land.
Under the SFA, bp and Oman will also consider collaboration in a renewables strategy, in regulations, the establishment of a renewable energy hub and the development and reskilling of the local workforce.
With the recent agreement, Oman, with a strong track record in the oil and gas industry, is taking an important step towards the country's 2040 Vision while availing of the opportunity to become a leading low-carbon energy hub.
In 2020, bp's Oman business spent $610 million with Omani-registered companies - 90% of its total spend.
And in 2021, bp joined Oman's national hydrogen alliance, Hy-Fly, to promote the hydrogen industry in Oman, and established a net zero taskforce to help develop a 'roadmap' for bp in Oman.
By Gulsen Cagatay