Squire advises on the creation of a joint venture between Helios Aragon and Rex International Holding
Squire Patton Boggs has advised Helios Aragon on its joint venture with Rex International Holding to explore the possible existence of natural hydrogen in Oman.
The joint venture aims to explore for natural hydrogen in Oman, marking a milestone as the first major project of its kind in the country. It is the largest and most pioneering initiative ever undertaken in the Omani energy sector.
The project, led by Helios Aragon and Rex, will not only open up new opportunities in the energy field, but will also boost Oman’s economic development, positioning the country at the forefront of the transition to cleaner and more sustainable energy sources.
In this context, it is important to note that Helios Aragon is a reference in the European natural hydrogen industry, being the operator of the Monzon Natural Hydrogen Project in Spain, the first of its kind in Europe. In addition, Helios Aragón is currently also carrying out exploration activities in Poland and the United Kingdom, consolidating its position as a world leader in the development of this sustainable energy source.
According to Ian Munro, CEO of Helios, “We plan to leverage the knowledge gained from exploration in Spain and elsewhere in Europe, together with Rex’s local operating experience, to develop and natural hydrogen potential in Oman.”
The Squire Patton Boggs team formed by Ramón Castilla (partner), Antonio Bañón (head of public law and energy), and Laura Gómez (senior associate), has advised Helios Aragón in the negotiation and award of this joint venture in Oman.
