Aker BP, OMV Receive License to Store CO2

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CO2 storage license awarded to Aker BP and OMV, located in the Norwegian North Sea

Collaborating on carbon capture and storage (CCS) initiatives, Aker BP and OMV AS have procured a license in line with the CO2 Storage Regulations on the Norwegian Continental Shelf (NCS). The Poseidon license, nestled in the Norwegian North Sea, is shared between Aker BP, which holds a 60% interest, and OMV (Norge) AS, which possesses the remaining 40%. Tasked with managing operations, Aker BP oversees a work program that includes a 3D seismic acquisition. The Poseidon license will potentially be able to store more than 5 million tons of CO2 per year. The plan is to inject CO2 captured from a diverse range of industrial emitters across North-West Europe, such as those from Borealis' operations.

In a bid to enhance their cooperative efforts, Aker BP and OMV AS have established a partnership with Höegh LNG as part of the Poseidon project. The goal is to devise the marine CO2 infrastructure required for gathering, consolidating, and transporting CO2 from emitters in Europe to the NCS. In response to this challenge, Höegh LNG has developed marine CCS solutions that incorporate Floating Storage and Regasification terminals, including floating LNG import terminals.