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
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
3 July 2025
European Commission introduces new flexibilities for member states to ease compliance with headline goal