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
1 May 2024
Abundant storage and low cost of capturing CO₂ from sharply rising gas production mean NOC’s ambitious CCUS targets look well within reach
29 April 2024
Decarbonisation push and shifting multilateral trade policy sharpens continent’s need for carbon trading
29 April 2024
Canada’s oil sands producers need policy certainty to make the multibillion-dollar investments needed to achieve net zero, Pathways Alliance president Kendall Dilling tells Carbon Economist
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV