Aker BP, OMV in Carbon Capture and Storage Collaboration
March 31 2023 - 5:34AM
Dow Jones News
By Dominic Chopping
Aker BP ASA said Friday that it has entered into a collaboration
agreement with OMV AG for carbon capture and storage and have been
awarded a license on the Norwegian continental shelf.
The license is located in the Norwegian North Sea and will be
called Poseidon, with the Norwegian oil and gas company holding a
60% interest and OMV (Norge) AS holding 40%. It comes with a work
program which includes 3D seismic data acquisition and a decision
to proceed with drilling or drop the project by 2025.
The company said Poseidon could potentially provide storage of
more than 5 million tons of carbon dioxide a year.
"We expect CCS to play a key role in the transition to a
low-carbon energy future, and the NCS holds significant potential
for carbon storage," Aker BP Chief Executive Karl Johnny Hersvik
said.
"This license award provides us with an opportunity to explore
both the technical and commercial potential of carbon storage."
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
March 31, 2023 05:19 ET (09:19 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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