Muscat – Singapore-based Rex International Holding has announced that it has entered into a joint study agreement with the co-founders of European firm Helios Aragon to explore natural hydrogen in Oman.

Helios Aragon, which aims to grow a high-quality global portfolio of natural hydrogen and helium projects, is the operator of the Monzon Natural Hydrogen Project in Spain, the first such development in Europe. Additionally, the Helios group of companies is conducting exploration activities in Poland and the UK.

In a press statement, John d’Abo, Executive Chairman of Rex International, said, “The Rex Group has been operating in Oman for a decade now, and the prospect of delving into a new form of energy in a geographical area we are familiar with is an exciting opportunity. The joint study will allow us to evaluate whether there are synergies to be gained and for Rex to contribute to action against climate change in the future.”

Ian Munro, CEO of Helios Aragon, said that Oman is widely regarded as one of the most prospective countries for the near-term discovery of commercial quantities of natural hydrogen.

“Oman’s geology is considered optimal for large-scale hydrogen generation, as evidenced by the multiple surface seeps, some of which are almost pure hydrogen. We plan to leverage exploration learnings from Spain and other parts of Europe, combined with Rex’s local operational expertise, to develop a thorough understanding of the hydrogen play system in Oman. Our goal is to produce the cleanest and lowest-cost hydrogen, enhancing energy security and supporting the transition to a lower carbon future,” he said.

Natural hydrogen – also known as white or gold hydrogen – is gaining global momentum as a potential gamechanger in the search for cost-effective, low-carbon energy sources. Global energy research firm Rystad Energy’s research indicates that at the end of last year, 40 companies were searching for natural hydrogen deposits globally, up from just 10 in 2020. Currently, exploratory efforts are underway in Australia, the US, Spain, France, Albania, Colombia, South Korea, and Canada.

One of the most promising aspects of natural hydrogen is its cost advantage over other forms of hydrogen due to its natural occurrence, according to Rystad Energy.

Rex International’s subsidiary, Masirah Oil, is the operator and holds a 100% interest in offshore Block 50 in the sultanate, an approximately 17,000 sqkm offshore concession located in the Gulf of Masirah, east of Oman. The offshore Block 50 concession is a key asset for Rex Group.

Europe-based Helios Aragon is a hydrogen and helium exploration venture focused on the northern Spanish province of Aragon.

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