Aker BP and OMV (Norge) AS have partnered to collaborate on carbon capture and storage (CCS) initiatives, which includes a license on the Norwegian Continental Shelf (NCS) in accordance with CO2 storage regulations.
Aker BP and OMV: Together to explore carbon storage in Northwest Europe
Both companies have expressed their enthusiasm for exploring the technical and commercial potential of carbon storage, with the Poseidon license being the first step towards this goal. The license will be operated by Aker BP, with a work program including 3D seismic acquisition and a drilling or abandonment decision by 2025. The Poseidon license has the potential to provide storage of more than 5 million tons of CO2 per year, with the intention of injecting captured CO2 into industrial emitters in North West Europe.
The partnership between Aker BP and OMV (Norge) AS is strengthened by their collaboration with Höegh LNG, which will provide the necessary marine CO2 infrastructure to collect, aggregate and transport CO2 from emitters on the European continent to the NCP. Höegh LNG has developed cost-effective marine CCS solutions based on its experience as one of the largest and most technically advanced operators of liquefied natural gas infrastructure.
Both Aker BP and OMV Group have extensive expertise in the exploration and production (E&P) sector, with Aker BP being one of the largest independent oil companies in Europe with an output of over 400,000 barrels of oil equivalent per day. The OMV Group has a strategic goal of storing 5 million tons of CO2 per year by 2030 and is committed to becoming carbon neutral by 2050.
CCS in Europe: How Aker BP, OMV and Höegh LNG are working together to decarbonize the energy future
The Poseidon license represents the first step in the evaluation and maturation of CO2 storage resources, in support of CCS deployment in Northwest Europe. With Aker BP’s deep expertise in reservoir management, drilling, wells and offshore logistics in Norway, and OMV Group’s strong commitment to becoming carbon neutral, this partnership is well positioned to explore the potential of carbon storage, perhaps offering a potential decarbonization lever for Aker BP in the longer term.
Indeed, the collaboration between Aker BP, OMV (Norge) AS and Höegh LNG is a promising development for CCS initiatives in Northwest Europe. With the Poseidon license as a first step in exploring the potential of carbon storage, this partnership has the expertise and resources to evaluate and mature CO2 storage resources, as well as contribute to the transition to a low-carbon energy future.
