You have experience across different companies related to the energy sector, such as BE’ AH, NAMA, PAEW, and now Hydrom. How does your previous experience shape your vision for this company?
Abdul Aziz Al Shidhani: My career has spanned various strategic positions, from my early roles in the power sector to significant leadership responsibilities in water and now renewable energy. As Chairman of the Oman Power and Water Procurement Company and Deputy Chairman of Beah, Oman’s Environmental Holding Company, I’ve gained comprehensive insights into our national infrastructure needs and sustainability goals. Transitioning to the Ministry of Energy and Minerals as the first Director General of Renewable Energy and Hydrogen was a pivotal step. It was during this period that we laid down the groundwork for Oman’s Green Hydrogen Strategy and subsequently established Hydrom. My diverse background helps me steer Hydrom in aligning with Oman’s broader national objectives of Vision 2040 and achieving our Net Zero goal by 2050, ensuring that we capitalize on our unique strengths to position Oman as a leader in the global green hydrogen market.
How does Hydrom fit into Oman Vision 2040, and what is its role in economic diversification?
Abdul Aziz Al Shidhani: Oman Vision 2040 emphasizes diversifying our economy beyond oil and gas. Hydrom is pivotal in developing the hydrogen sector as part of this vision, integrating with other sectors and the national agenda. We aim to establish renewable energy sources that fit our long-term sustainability goals. Hydrom’s role is to maximize value capture for Oman from this sector. In just two years, we have initiated eight projects in collaboration with 22 international companies from Europe, Asia, Australia, and the region. These initiatives not only forge contracts but also create economic impact by developing common-use infrastructure and addressing workforce readiness, creating sustainable opportunities post-oil and gas.
How do you envision Oman’s role in the global green hydrogen landscape?
Abdul Aziz Al Shidhani: His Majesty’s vision for Oman is to become a global hub for green hydrogen, which offers a sustainable, long-term solution to global energy. With our abundant solar and wind resources, Oman is uniquely positions to produce competitive green hydrogen. Our strategic geographical location serves as a bridge between major markets in East Asia and Europe, enhancing our potential as a key supplier in the global green hydrogen market.
What strategies is Hydrom implementing to attract international investors?
Abdul Aziz Al Shidhani: Hydrom coordinates the entire value chain to ensure there are viable markets for our hydrogen production. We actively engage with leading global markets, such as Germany, the largest market for green hydrogen, and have established collaboration with ports like Amsterdam. Our strategy focuses on facilitating international partnerships, aligning local and global interests, and ensuring a unified approach. We’re expanding our outreach to other key players like Japan and the Netherlands, enhancing our global footprint and investment appeal.
What investment opportunities are currently available for foreign investors?
Abdul Aziz Al Shidhani: The eight projects we’ve initiated offer substantial opportunities. Investors are invited to participate in upcoming auction rounds or engage in various aspects of the value chain, from solar panels and wind turbines manufacturing to logistics and maintenance. The scale of these projects necessitates significant infrastructure development, presenting numerous opportunities for involvement in component production and other logistical support. Additionally, industries seeking green energy can benefit from Oman’s competitive renewable energy costs. Our framework and investment climate are attractive, and we aim to create a constant flow of opportunities in this new sector.
Can you summarize the benefits Oman offers to potential investors in the green hydrogen sector?
Abdul Aziz Al Shidhani: Oman provides the ideal conditions for producing competitive green hydrogen, thanks to our favorable renewable energy resources, strategic location, and proven investment frameworks. Building on our history of successful long-term partnerships in the oil and gas sector, we are now applying this expertise to green hydrogen. The significant interest from international companies underscores our potential, and we invite investors to join us in this transformative journey, leveraging Oman’s unique advantages to foster a sustainable energy future.
