Oman’s government has established a new hydrogen-centric energy company, HYDROM, a fully-owned autonomous subsidiary of the national energy company, Energy Development Oman (EDO).
The new company will accelerate the country’s vision for the growth of a green hydrogen-based energy future and help the Sultanate‘s pledge to achieve net zero emissions by 2050. The new energy company will be regulated by the Ministry of Energy and Minerals (MoEM), as per the statement.
HYDROM’s mandate includes the delineation of government-owned land areas and the structuring of associated large-scale world-class green hydrogen projects, managing the process for their allocation to developers as well as facilitating the development of common infrastructure and connected ecosystem industries and hubs in close collaboration with the Public Authority for Special Economic Zones and Free Zones (OPAZ).
Oman has set an ambition to become one of the largest green hydrogen producers and exporters globally, targeting production of one million tons by 2030.
Mr. Mazin Al Lamki, Chief Executive Officer of Energy Development Oman, said that, “We are delighted to announce the new brand identity of HYDROM, a fully owned autonomous subsidiary of EDO. Working in tandem with the ambitious government plans, HYDROM will leverage the Sultanate of Oman’s location and abundant solar and wind resources to produce green hydrogen and support the government’s drive to reduce the carbon footprint and achieve the decarbonization targets.”
Dr. Firas Al Abduwani, Acting Managing Director of HYDROM, stated that, “We at HYDROM look forward to working with international partners to build the future of energy.”
“The bid round we announced today is the first of its kind globally and we are convinced it will help accelerate the development of the green hydrogen industry in Oman and globally,” Dr. Al Abduwani added.