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RIYADH: Oman is planning to launch a national energy firm, Hydrogen Development Oman, focusing on green hydrogen projects, MEED reported. 

The new firm will be a wholly owned subsidiary of the country’s energy transition champion Energy Development Oman, or EDO. 

EDO is the state-owned holding firm representing the country’s stake in Petroleum Development Oman.

Hydrogen Development Oman plans on collaborating with domestic as well as international partners to propel the implementation of green hydrogen projects.

Other potential stakeholders in the new firm include Oman Oil and Orpic Group, Oman Investment Authority, the Ministry of Commerce, Industry and Investment Promotion, and the Authority of Public Services Regulation.

Hydrogen Development Oman’s equity share in upcoming projects will include land for the upstream clean energy facilities that those projects will need.

Moreover, while the new firm will become the country’s national hydrogen company, the Energy Ministry will shift focus to regulating the booming hydrogen sector.