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Renewable hydrogen (H2) plays a crucial role in the energy transition as it can replace fossil fuels in industries and transportation that are difficult to decarbonize. In today’s industry, H2 is mostly produced from fossil fuels such as natural gas (NG), oil, and coal; however used processes produce carbon dioxide (CO2) in addition to H2. These technologies are combined with geologic carbon storage to make them more environmentally friendly. In a further step, the use of depleted/depleting hydrocarbon reservoirs (DHRs) for in-situ H2 production is being investigated, with the co-generated CO2 remaining permanently in the reservoir. The objective of this study is to provide a brief overview of the technologies that can be used to produce H2 from DHRs in various ways. We evaluate the required processes from a reservoir engineering perspective, highlighting their potential for H2 generation and their technology readiness level (TRL) for applications. We also investigate the possibility of storing the co-produced CO2 in the reservoir permanently to reduce emissions. We provide a preliminary cost analysis to compare these methods with conventional hydrogen production techniques, as well as an assessment of operational risks and associated cost estimates.