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
12 November 2024
Standards have been agreed for a mechanism under Article 6.4 of the Paris Agreement to trade carbon credits internationally
8 November 2024
The energy sector will need all viable technologies to meet surging demand as AI and datacentres drain power grids
31 October 2024
Russia still aspires to become a major supplier of hydrogen, CO₂ storage capacity and carbon credits, despite financial constraints and the loss of Western technology and expertise
30 October 2024
Occidental subsidiary signs agreement with Enterprise Products Partners for pipelines and transport services for Bluebonnet hub
