News story | Date: 2019-01-11 | Ministry of Petroleum and Energy
Equinor has been awarded an exploitation permit for CO2-storage on the Norwegian Continental Shelf.
This was decided by King-in-council today. The allocated area for storage of CO₂ is located near the Troll oil and gas field and was announced in July 2018.
Equinor is currently performing front-end engineering and design (FEED)-studies on storage with project partners Shell and Total. The storage solution is part of the large-scale carbon capture and storage-project in Norway.
- The government has an ambition to realize a cost effective solution for full-scale carbon capture and storage in Norway, given that this will result in international technology development. The companies' effort to mature a storage solution is a prerequisite for a successful project, says Kjell-Børge Freiberg, Minister of Petroleum and Energy.
The allocation of an exploitation permit is necessary to continue the FEED-studies for a CO₂-storage solution. The FEED-studies will also provide more accurate cost estimates necessary for an investment decision.
This is the first exploitation permit for storage of CO₂ on the Norwegian Continental Shelf. The allocation is made under the CO2-storage regulations from December 2014.
Equinor, together with project partners Shell and Total, will now mature the storage concept towards a Plan for Development and Operations (PDO) scheduled for delivery in 2019. An investment decision for the Norwegian full-scale carbon capture and storage project is expected in 2020/2021.