Equinor, Aker BP and Vår Energi among applicants for Norwegian CO2 storage licenses

Eight companies have submitted their applications to the Norwegian Ministry of Energy for CO2 storage licenses for two areas on the Norwegian Continental Shelf (NCS).

Aker BP, Equinor Low Carbon Solution, Lime Petroleum, Northern Lights JV, OMV (Norge), PGNiG Upstream Norway, Vår Energi and Wintershall Dea Norge submitted their applications for the North Sea areas that were announced on March 6.

The Norwegian Ministry of Energy is processing the received applications and plans to award exploration licenses in the second half of 2024.

“Norway is at the forefront of efforts to promote commercial CO₂ storage. By facilitating more storage permits, we are strengthening our role as a force for climate-friendly initiatives both nationally and internationally, while creating new opportunities for growth and employment in Norway,” said Norway’s Minister of Energy Terje Aasland.

So far, seven licenses have been awarded for CO2 storage offshore Norway, six in the North Sea and one in the Barents Sea. Most recently, Sval Energi, Storegga Norway and Neptune Energy Norway secured an exploration permit located east of the Sleipner Øst field in what was the fifth time acreage was awarded.