Riyadh, Saudi Arabia – Continuing its efforts to unlock the potential of the green hydrogen sector in Oman, Hydrogen Oman (Hydrom) conducted an in-person session in Riyadh on Wednesday.
The event aimed to spotlight Hydrom’s vital role in the green hydrogen field and promote the Round 2 Public Auction of green hydrogen blocks in Oman. Distinguished guests, including embassy representatives from many countries interested in green hydrogen, prominent government officials and business leaders from the Saudi private sector, and members of the press, attended the event.
The session commenced with an opening address delivered by H H Sayyid Faisal bin Turki al Said, Ambassador of Oman to Saudi Arabia.
Commenting on the Riyadh event, H H Sayyid Faisal said, “We are pleased to welcome Hydrom to Riyadh for this event. The visit highlighted the strong investment and cooperation opportunities that leverage the enduring relations between Saudi Arabia and Oman. Both nations share a common vision of sustainable energy production and a net-zero economy. Oman’s abundant renewable energy resources and world-class infrastructure and logistics make it an ideal destination for Saudi investors and those from other countries looking to steer the world toward a greener, more sustainable future.”
Eng Abdulaziz al Shidhani, general manager of Hydrom, said, “Our visit to Riyadh is part of our ongoing efforts to showcase Oman’s green hydrogen sector and the Round 2 Public Auction of green hydrogen blocks in the Dhofar Governorate as prime investment prospects. With its vast renewable energy resources and available Tier 1 infrastructure and logistics, Oman offers immense potential for green hydrogen production, making it an ideal choice for Saudi investors looking to be part of the green hydrogen revolution.”
“Hydrom is committed to facilitating such partnerships to drive the growth of Oman’s green hydrogen industry, offering substantial benefits to businesses seeking opportunities for sustainable investments in the Sultanate,” he added.
Oman’s Round 2 Public Auction for green hydrogen blocks is capturing widespread attention from international energy corporations. This auction is poised to award up to three green hydrogen blocks within the Dhofar Governorate, presenting lucrative investment prospects and highlighting Oman’s commitment to fostering a robust green hydrogen sector.
The previous Round 1 auctions resulted in agreements for green hydrogen projects with total investment exceeding $30bn. These projects are anticipated to generate a combined capacity of 750 KTPA (Kilo-Tonnes Per Annum) of green hydrogen per annum, supported by an installed renewable energy capacity surpassing 18.5GW. This infrastructure covers an extensive area totaling 1,600 sqkm in Duqm.
The second round was launched in June of this year to allocate up to three blocks with sizes ranging from 340 sqkm to 400 sqkm. These blocks hold substantial potential for green hydrogen production, leveraging Oman’s abundant solar and wind resources and advantageous geographic positioning.
Oman has a long-term plan to produce more than 1mn metric tonnes per annum of green hydrogen by 2030, ramping up to 8.5mn metric tonnes by 2050, with an expected cumulative investment value of $140bn for the projects.