Rex Inks Joint Study Agreement for Natural Hydrogen in Oman

Rex International Holding Limited has unveiled a Joint Study Agreement with the co-founders of Helios Aragon to investigate natural hydrogen resources in Oman. Helios Aragon, which focuses on building a global portfolio of natural hydrogen and helium projects, is the operator of the Monzon Natural Hydrogen Project in Spain, Europe's first such development. In addition to the project in Spain, Helios is conducting exploration activities in Poland and the UK.

John d'Abo, Executive Chairman of Rex, expressed enthusiasm for the collaboration, noting the significance of entering into a new energy sector in a region the company has operated in for the past decade. He highlighted that the joint study will help determine whether there are valuable synergies to explore and how Rex can contribute to climate action. He remarked, "The opportunity to explore a new form of energy in Oman, a region we are familiar with, is an exciting prospect."

Ian Munro, CEO of Helios Aragon, underscored Oman’s strong potential for natural hydrogen discovery. According to Munro, Oman is considered one of the most promising countries for finding commercial quantities of natural hydrogen in the near future, due to its optimal geology, which has been demonstrated by multiple surface hydrogen seeps, some of which consist of nearly pure hydrogen.

Munro added that Helios Aragon intends to apply its exploration experience from Spain and other European locations, alongside Rex's local expertise in Oman, to deepen their understanding of the hydrogen play system in the region. The ultimate aim is to produce hydrogen that is both clean and cost-effective, which would contribute to energy security and support the global transition to a low-carbon future.

Through this partnership, Rex and Helios hope to capitalize on Oman’s favorable geological conditions to tap into natural hydrogen resources. This collaboration is part of both companies' broader commitment to sustainable energy development and fighting climate change. By combining their knowledge and resources, they aim to pioneer clean energy solutions that align with the world's growing demand for green alternatives.

Rex International Holding Limited is a multinational oil exploration and production (E&P) company listed on the Mainboard of the Singapore Exchange Securities Trading Limited. The Group holds exploration and production licenses in Norway, Oman, and Benin, where it also operates the assets in Oman and Benin.  Rex leverages its proprietary Rex Virtual Drilling technology, a liquid hydrocarbon indicator that uses seismic data to identify subsurface liquids, to de-risk its portfolio of exploration and development projects. Since its listing in July 2013, Rex has made four offshore discoveries: one in Oman and three in Norway.