**FOR IMMEDIATE RELEASE**
**HEADLINE:** Muscat Signs $6.2 Billion Hydrogen Deal, OMAN Set to Become Global Clean Energy Hub by 2030
**MUSCAT, OMAN – December 10, 2024 (OMAN NEWS AGENCY) –** In a landmark development, the Sultanate of Oman has finalized a comprehensive framework agreement with a consortium of international energy firms valued at $6.2 billion. The deal, signed at the Al-Bustan Palace, formally launches Phase One of the "Green Energy Corridor," propelling Oman to the forefront of the global renewable hydrogen sector.
**WHO:** His Excellency Salim bin Nasser Al Aufi, Minister of Energy and Minerals, alongside executives from the Omani sovereign wealth fund and representatives from the consortium.
**WHAT:** The execution of a binding Development and Production Sharing Agreement for a massive green hydrogen project. The initiative combines solar and wind power generation with water electrolysis facilities to produce hydrogen fuel.
**WHEN:** Official signing occurred at 10:00 AM local time today. Production is slated to begin in the third quarter of 2028, with full operational capacity expected by 2030.
**WHERE:** The primary production site is located in the Duqm Special Economic Zone (SEZD), a strategically positioned hub on Oman's central coast, serving the Gulf, Asian, and European export markets.
**WHY:** These actions represent a strategic pivot from hydrocarbon dependency. Oman aims to achieve net-zero carbon emissions by 2050, capitalizing on its world-class solar irradiance and wind resources to generate a new economic sector expected to contribute $15 billion annually to the GDP. Authorities cited global demand for energy security and decarbonization as catalysts for the accelerated timeline.
**QUOTE:** In a statement released following the ceremony, Minister Al Aufi stated, "This agreement transforms potential into kinetic energy. For Oman, this is not merely a diversification strategy; it is the establishment