(Source: Shutterstock.com)
TotalEnergies has entered into an agreement with CapeOmega Carbon Storage AS to acquire the 40% participating interest held by CapeOmega in the CO2 storage exploration license ExL004, also known as the “Luna” project, according to an Aug. 22 press release.
The Luna project covers an area of 453 sq.km in 120 km offshore Bergen in 200 m water depth, according to the release. It is located near the Northern Lights CO2 storage project, 33% of which is also owned by TotalEnergies. The Northern Lights CO2 storage project is currently in development and is expected to begin in 2024.
“With the Northern Lights start-up in 2024 and other projects under development in the Netherlands, Denmark and the UK, TotalEnergies is building a world-class carbon storage portfolio across the North Sea,” said Arnaud Le Foll, senior vice president new business – carbon neutrality at TotalEnergies. Norway will play a leading role in this portfolio thanks to its large geological storages and supportive government policies.”
ExL004 is operated by Wintershall DEA Norge AS with a participating interest of 60%.
Recommended Reading
Diamondback Energy Appoints Industry Veteran Holderness to Board
2025-02-04 - Diamondback Energy has named Darin G. Holderness, who founded and served as CFO at P&A Exchange LLC and CFO at ProPetro Holding Corp. as a board of directors at the Permian Basin E&P.
Executive Compensations Rising in Sync with Shareholder Payoffs
2025-02-04 - Executive compensation is increasingly tied to stock metrics, rewarding performance instead of growth, according to an Alvarez & Marsal report.
Encino's Owner Mulls $7B Sale, IPO of Utica E&P, Sources Say
2025-02-04 - CPP Investments is considering a sale or IPO of Encino Acquisition Partners following January’s IPO of fellow Utica Shale E&P Infinity Natural Resources.
Intensity Infrastructure Partners Pitches Open Season for Bakken NatGas Egress
2025-02-04 - Analysts note the Bakken Shale’s need for more takeaway capacity as Intensity Infrastructure Partners launches an open season for a potential 126-mile natural gas transport line out of the basin.
Pearl Energy Investments Closes Fund IV with $999.9MM
2025-02-04 - Pearl Energy Investments’ Fund IV met its hard cap within four months of launching and closed on Jan. 31.
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.