Crusoe Energy, an energy firm that aims to use wasted fuel to support crypto mining, is reportedly planning to set up shop in the Middle East nation Oman, despite controversial surrounding fossil fuels in crypto mining. 

Specifically, the mining company from Denver has reportedly forged an unexpected alliance with the government of Oman – a country exporting 21% of its gas production and working towards achieving zero gas flaring by 2030, in a bid to establish new standards supporting the positive position of crypto in bringing down the fossil fuels waste level. 

The US-based firm is reportedly going to set up a facility in the capital city of Muscat, as well as completing the installation of its equipment for capturing gas waste at well sites. 

It already organized a workshop with Oman’s top-tier energy producers, OQ SAOC and Petroleum Development Oman. The first pilot initiative will be introduced by the end of 2022 or in early 2023, as revealed by the current Head of Crusoe – Chase Lochmiller.

The Oman authority’s interest in the alliance is reportedly supported by its primary target of bringing down the local gas flaring – burning off the excessive flammable gas in the process of extraction. 

Joining Algeria, Iraq, Lybia, Egypt and Saudi Arabia, Oman reportedly takes up 90% of flaring in the Arab territory, while the Middle East are itself is responsible for the proportion of 38% of flaring across the globe. 

In 2018, according to estimations generated by the UN’s Economic and Social Commission for Western Asia, 10% of the overall gas consumption in Oman was dedicated to flaring.

Via an official statement, Lochmiller reportedly highlighted his firm’s mission to establish a footprint in the Middle East and Northern Africa, in an attempt to provide assistance to local authorities in their battle against flaring. 

“Having the buy-in from nations that are actively trying to solve the flaring issues is what we are looking for.”