Norway – Five businesses have submitted proposals to the Norwegian Ministry of Petroleum and Energy (MPE) in connection with the announcement of a region in the North Sea for prospective CO2 storage on the Norwegian shelf.
The businesses that applied were Equinor, Neptune Energy Norway, Storegga Norge, Sval Energi, and Wintershall Dea Norge.
In the first half of 2023, the ministry plans to allot land in accordance with the storage requirements after processing the applications it has received. Commercial parties who are interested in securing the grant of specific acreage for CO2 storage have contacted the MPE. In accordance with the CO2 Storage Rules, this North Sea acreage was notified in January.
The storage of CO2 on the Norwegian continental shelf is actively being promoted by the Norwegian government. In order to provide industrial participants with access to pertinent storage choices, the state will follow a foreseeable, effective, and adaptable method.
“The great interest in CO2 storage on the NCS is gratifying. The fact that we regularly receive applications to advertise areas and to store CO2 in these areas shows that our allocation policy is working as intended,” says Oil and Energy Minister Terje Aasland.