New exploration licence granted under the Storage Regulations in the North Sea
The Norwegian Ministry of Petroleum and Energy granted an exploration licence under the Storage Regulations in the North Sea to Wintershall Dea Norge AS and CapeOmega AS.
The exploration licence allows for the exploration of areas that may be suitable for carbon storage on the Norwegian Continental Shelf.
Carbon capture and storage (CCS) is one of the measures put forward by the United Nations’ Intergovernmental Panel on Climate Change as absolutely necessary if we are to achieve the climate goals agreed upon in the Paris Agreement.
The necessity of CCS was also mentioned during the opening of the 167th Storting this week, where the King of Norway said “Carbon capture and storage is absolutely necessary in order to achieve our climate goals, and Norway is a world leader in this technology.”
Great experience in carbon storage
“Carbon capture and storage at large scale is necessary for the world to achieve its ambitious climate goals. In Norway, we have great experience in carbon storage from the Sleipner and Snøhvit gas fields, and we know that it works. The granting of this licence will strengthen the development of this important climate initiative,” says Minister of Petroleum and Energy, Terje Aasland (Labour) in a press release from the Norwegian Ministry of Petroleum and Energy.
The press release states that the licence has been granted with a binding work programme to ensure rapid and efficient progress. If project development comes to a halt, the areas will have to be returned.
“This licence was granted to two companies that have brought forward a good, mature carbon storage project. There is interest from businesses about further announcements of exploration areas on the Norwegian Continental Shelf,” continues Aasland.
The areas for which licences have now been granted were announced in April with an application deadline of 1 June 2022.