Norway Awards Two CO2 Storage Permits in North Sea

Illustration (Credit: NOD)

Norwegian Ministry of Energy has offered two CO2 storage permits to Harbour Energy, Equinor, and Aker BP, both located in the North Sea.

One of the permits is being offered to a group consisting of Harbour Energy (operator) and Equinor Low Carbon Solution, the other permit is being offered to a group consisting of Equinor Low Carbon Solution (operator) and Aker BP.

The permits, awarded following the review of applications from six companies, are offered with a binding work program, with milestones that ensure efficient progress, or return of the areas if the licensees do not implement the storage project.

“Norway has a unique opportunity to take a leading role in large-scale commercial CO2 storage in Europe. The government is committed to facilitating CO2 storage to become a profitable and sustainable industry in Norway.

“These exploration permits are offered to companies that have presented good plans for the development of CO2 storage. A number of players in the industry have shown interest in new storage space. This makes me optimistic about further progress in the work to make CO2 storage part of the solution to the world's climate challenge,” said Minister of Energy Terje Aasland (Labour Party).