Poseidon licence covers part of southern North Sea
Aker BP joins Nordic CCS push
Independent oil and gas firm targets European emitters after securing Norwegian storage exploration licence
Independent oil and gas company Aker BP has joined the race to provide offshore CO₂ storage to northwest Europe’s industrial emitters by securing an exploration licence on the Norwegian Continental Shelf. Norway’s Ministry of Petroleum and Energy has offered Aker BP and the Nordic arm of Austrian oil and gas producer OMV a licence to explore for storage capacity in the eastern section of the southern North Sea. Aker BP holds 60pc of the licence and will be the operator, with OMV holding the remaining share. The two companies have signed a collaboration agreement to potentially develop projects under the licence, which comes with a requirement to make a “drill or drop decision” by 2025. “This
Also in this section
5 December 2024
Completion of phase-one construction expected in 2027 as technology providers SLB and Linde take equity stakes in one of world’s largest CCS projects
5 December 2024
The new edition of Outlook, our annual publication about the year ahead for energy, produced in association with White & Case, is available now
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement
