Latest news with #AlWusta
Zawya
3 days ago
- Business
- Zawya
Oman's HyDuqm hydrogen project eyes FID in 2027
MUSCAT: Hydrogen Duqm LLC (HyDuqm), one of nine large-scale green hydrogen and ammonia projects currently in early development in Oman, anticipates a Final Investment Decision (FID) in 2027, with production slated to commence in 2030. HyDuqm represents a joint venture set up by six leading global companies comprising POSCO Holdings, Samsung Engineering Company Limited, Korea East-West Power Company Limited, Korea Southern Power Company Limited, MESCAT Middle East DMCC (a subsidiary of ENGIE from France), and FutureTech Energy Ventures Limited (FTEV) - the clean energy arm of Thai energy conglomerate PTTEP. In 2023, the JV partners won a concession from Hydrom, the master-planner of Oman's green hydrogen (GH2) economy, to develop a GH2 project in Block Z1-02 in Al Wusta Governorate. The project targets an annual capacity of 1.2 million tonnes of green ammonia, focusing on clean energy production from green hydrogen. According to PTTEP subsidiary FTEV, the partners of HyDuqm are currently 'in the process of assessing wind and solar energy potential (Renewable Resource Assessment) and conducting a feasibility study to evaluate the investment value and profitability of the project prior starting engineering design'. Significantly, FTEV's role as a JV partner in HyDuqm is the latest addition to parent organization PTTEP's expanding presence in Oman's energy industry. 'This investment supports the growth of new businesses aligning with the Company's business plan and provides an opportunity to apply knowledge and experience in green hydrogen production in Thailand, in line with future energy policies,' PTTEP noted in its recently issued 2024 Annual Report. 'PTTEP completed the installation of wind and solar potential measurement stations and has begun collecting data to support the project operations. The ongoing feasibility study phase includes geographical, geotechnical, and hydrological assessments, as well as a Preliminary Environmental and Social Impact Assessment (Pre-ESIA),' it further stated. The feasibility study, according to the Thai state-owned energy giant, will also help determine the amount of required capital expenditure and economic return before proceeding to the engineering design phase in 2025. The Annual Report also shed light on the performance of PTTEP's portfolio of investments in the upstream and midstream segments of Oman's oil and gas sector. One of its largest investments is in Block 61 in central Oman, which accounts for around a third of Oman's gas production. PTTEP owns a 20 per cent interest in the BP-operated concession. In 2024, natural gas and condensate production averaged 1,511 MMSCFD (approximately 267,746 barrels of oil equivalent per day - BOED) and 56,087 bpd respectively. Production from Block 6 – the largest producing oil asset in central Oman – averaged 66,490 bpd of crude oil in 2024. PTTEP Group holds a 2 per cent participating interest in this project, with Petroleum Development Oman (PDO) as the operator. In south Oman, PTTEP Group holds a 1 per cent participating interest in Block 53 (also known as the Mukhaizna field) with Occidental as the operator. In 2024, the average crude oil production was 75,227 bpd. Recently, Oman's Ministry of Energy and Minerals signed an agreement to extend the Block 53 Exploration and Production Sharing Agreement (EPSA) with Occidental and its partners until 2050. Rounding off its upstream assets is Block 12, a large onshore natural gas exploration block in central Oman. PTTEP Group holds a 20 per cent participating interest in the project, with TotalEnergies as the operator. In 2024, two exploration wells were completed, while geological and geophysical studies are currently underway. PTTEP subsidiary PTTEP Oman E&P Corporation (POC), formerly Partex Oman Corporation, also has a 2 percent stake in Oman LNG LLC and an indirect 0.7 per cent stake in Qalhat LNG. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Oman's HyDuqm expects FID in 2027
Hydrogen Duqm (HyDuqm), one of nine large-scale green hydrogen and ammonia projects currently in early development in Oman, anticipates a Final Investment Decision (FID) in 2027, with production slated to commence in 2030. HyDuqm is a joint venture comprising POSCO Holdings, Samsung Engineering , Korea East-West Power Company, Korea Southern Power Company , MESCAT Middle East DMCC (a subsidiary of ENGIE from France), and FutureTech Energy Ventures (FTEV) - the clean energy arm of Thai energy conglomerate PTTEP. In 2023, the JV partners won a concession from Hydrom, the master-planner of Oman's green hydrogen economy, to develop a GH2 project in Block Z1-02 in Al Wusta Governorate. The project targets an annual capacity of 1.2 million tonnes of green ammonia, focusing on clean energy production from green hydrogen. According to PTTEP subsidiary FTEV, the partners of HyDuqm are currently 'in the process of assessing wind and solar energy potential (Renewable Resource Assessment) and conducting a feasibility study to evaluate the investment value and profitability of the project prior to starting engineering design'. FTEV's role as a JV partner in HyDuqm is the latest addition to parent organisation PTTEP's expanding presence in Oman's energy industry. 'This investment supports the growth of new businesses aligning with the Company's business plan and provides an opportunity to apply knowledge and experience in green hydrogen production in Thailand, in line with future energy policies,' PTTEP noted in its recently issued 2024 Annual Report. 'PTTEP completed the installation of wind and solar potential measurement stations and has begun collecting data to support the project operations. The ongoing feasibility study phase includes geographical, geotechnical, and hydrological assessments, as well as a Preliminary Environmental and Social Impact Assessment (Pre-ESIA),' it said. The feasibility study, according to the Thai state-owned energy giant, will also help determine the amount of required capital expenditure and economic return before proceeding to the engineering design phase in 2025. (Writing by Nadim Kawach; Editing by Anoop Menon)
Times of Oman
27-05-2025
- Business
- Times of Oman
Value of fish landed in Oman reaches OMR159,726
Muscat: The total value of fish landed from various fishing activities (artisanal, coastal, and commercial) in the Sultanate of Oman reached approximately OMR159,726 by the end of March 2025, marking an 8% increase compared to the same period last year, which recorded OMR147,852. According to preliminary statistical data released by the National Centre for Statistics and Information, Oman's fisheries sector has shown notable growth, with the total quantity of landed fish rising to 238,131 tonnes by the end of March 2025, compared to 223,531 tonnes during the same period in the previous year—a 6.5% increase. This reflects positive development in Oman's fish production. Despite a slight decline, artisanal fishing remains the backbone of the sector, with landings reaching 189,770 tonnes by the end of March 2025—a 1.7% decrease from 193,054 tonnes in March 2024. Al Wusta Governorate recorded the highest artisanal fish landing volume at 78,215 tonnes, followed by South A'Sharqiyah Governorate with 54,348 tonnes and Dhofar Governorate with 24,487 tonnes. North and South Al Batinah Governorates recorded 15,927 tonnes, while Musandam Governorate reached 8,755 tonnes, and Muscat Governorate recorded 8,038 tonnes. Commercial fishing saw a significant surge, with landings rising to 43,677 tonnes by the end of March 2025, compared to 27,240 tonnes during the same period last year—a remarkable 60.3% growth. Coastal fishing also posted strong growth at 44.7%, reaching 4,684 tonnes compared to 3,237 tonnes in March 2024. Small pelagic fish topped the list of the most landed species in artisanal fishing, with 95,275 tonnes, followed by large pelagic fish at 60,465 tonnes and demersal fish at 27,522 tonnes. Shark species accounted for 1,426 tonnes, while crustaceans and mollusks reached around 930 tonnes, and other unclassified fish recorded approximately 4,152 tonnes.
Zawya
20-05-2025
- Business
- Zawya
Oman: Output from Block 53's Mukhaizna field totals 640mln barrels
MUSCAT: Oman's Block 53 oilfield, home to the Mukhaizna steam flood project, has produced over 640 million barrels since production began in 2005, according to official statements marking the latest extension of the field's production sharing agreement. The announcement follows the signing of Amendment No. 2 to the Production Sharing Agreement between the Ministry of Energy and Minerals and the Block 53 consortium, extending the agreement to 2050. Mukhaizna is one of the largest and most mature steam flood operations in the region. The Block 53 partnership comprises Oxy (47%), OQ Exploration and Production – OQEP (20%), Indian Oil (17%), Liwa Energy (15%), and PTTEP (1%). More than 3,500 wells have been drilled in the field, located in Al Wusta Governorate, which spans 694 sq km. The consortium aims to add 800 million barrels in gross recoverable resources through further drilling, enhanced oil recovery techniques, and optimisation of steam flood technologies. The deal is expected to unlock fresh investments, improve Oman's reserves position, and reinforce the Sultanate's role as a strategic energy hub. Officials noted that the extension aligns with Oman Vision 2040, which seeks to maximise value from energy assets while boosting economic diversification and energy security. The Ministry reiterated that such long-term agreements enhance investor confidence and support national development goals. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
19-05-2025
- Business
- Zawya
Oman: 7 bidders qualified for $2bln Misfah and Duqm IPPs
Muscat: Nama Power and Water Procurement (PWP), the exclusive procurer of power and water in the Sultanate of Oman, has named seven qualified applicants to participate in a tender for the development of two major Independent Power Projects (IPPs) – Misfah IPP and Duqm IPP – which represent a significant step in securing the Sultanate of Oman's future energy needs. Total investment in the IPPs, with a combined generation capacity of 2400 MW, is estimated at RO 880 million. A total of 12 Statements of Qualification were received from international companies. Following a thorough evaluation process, 7 applicants have been successfully qualified to participate in the upcoming tender. They are: ACWA Power Company, Korea Western Power Co Ltd, Marubeni Corporation, Nebras Power, Sembcorp, Utilities Pte, Shenzhen Energy Group, and Sumitomo Corporation. These qualified bidders come from a variety of countries, notablyKSA, Kuwait, UAE, Qatar, India, South Korea, Japan, Qatar, Singapore and China. Ahmed bin Salim bin Mohammed al Abri, CEO of Nama Power and Water Procurement, stated:'The announcement of Misfah and Duqm Independent Power Projects marks a key milestone in advancing the Sultanate of Oman's energy infrastructure. These strategic projects will significantly enhance the reliability and security of electricity supply in Muscat and Al Wusta Governorates, supporting the growing demand for power and contributing to economic development in Sultanate of Oman. The strong interest from globally recognized developers reflects international confidence in Sultanate of Oman's energy sector and Nama PWP's transparent and competitive procurement framework. These projects also reaffirm our commitment to delivering sustainable and efficient power solutions,' Al Abri added. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
