Cape Lindesnes, the southernmost coastal point of Norway in the North Sea. (Source: Shutterstock.com)
Aker BP and OMV (Norge) AS entered into a collaboration agreement for the Poseidon carbon capture and storage (CCS) license located in the Norwegian North Sea.
The companies have been awarded the license in accordance with the CO2 storage regulations on the Norwegian Continental Shelf (NCS), Aker BP announced in a March 31 press release.
“The Poseidon license could potentially provide storage of more than 5 million tons of CO2 per year,” Aker BP said. “The intention is to inject CO2 captured from multiple identified industrial emitters in North-West Europe, including from Borealis' various industrial sites in Europe.”
Aker BP will operate the license and hold a 60% interest while its partner OMV (Norge) AS will hold the remaining 40%. The license comes with a work program which includes 3D seismic acquisition and a drill or drop decision by 2025.
Aker BP and OMV (Norge) AS also entered into a collaboration agreement with Höegh LNG to provide the marine CO2 infrastructure required to collect, aggregate and transport the CO2 from emitters on the European continent to the NCS.
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