Harbour Energy, Britain's largest oil and gas producer, said on April 11 it has entered into an agreement with BP to develop the Viking CCS transportation and storage project.
Harbour will continue as operator of Viking CCS with a 60% interest, with BP acquiring a 40% non-operated share, the company said in a statement.
The announcement follows the U.K.'s recent decision to launch the "Track 2" cluster sequencing process for carbon capture and storage (CCS), a technology that removes carbon dioxide emissions from the atmosphere and stores it underground.
Efforts to remove carbon dioxide from the atmosphere and put it in underground storage have gained steam across Europe over the past few years as industries and governments seek to reduce emissions to meet their climate goals.
Harbour said the government recognizes Viking CCS as one of the leading transport and storage system contenders for this process, and that a final investment decision on the project is expected in 2024, subject to the outcome of the Track 2 CCS.
Recommended Reading
Baker Hughes Wins Contracts for Woodside’s Louisiana LNG Project
2024-12-30 - Bechtel has ordered gas technology equipment from Baker Hughes for the first phase of Woodside Energy Group’s Louisiana LNG development.
Argent LNG, Baker Hughes Sign Agreement for Louisiana Project
2025-02-03 - Baker Hughes will provide infrastructure for Argent LNG’s 24 mtpa Louisiana project, which is slated to start construction in 2026.
Equinor Commences First Tranche of $5B Share Buyback
2025-02-07 - Equinor began the first tranche of a share repurchase of up to $5 billion.
Venture Global LNG Pares IPO Hopes by 15% to $2.2B
2025-01-22 - LNG exporter Venture Global nearly halved the price per share, while increasing the number of shares it expects to offer.
Exxon Slips After Flagging Weak 4Q Earnings on Refining Squeeze
2025-01-08 - Exxon Mobil shares fell nearly 2% in early trading on Jan. 8 after the top U.S. oil producer warned of a decline in refining profits in the fourth quarter and weak returns across its operations.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.