Norway opens more North Sea areas for CO2 storage bids

June 7, 2024
Awards of such areas is a prerequisite for large-scale carbon capture and storage.

Offshore staff

OSLO, Norway — The Norwegian Ministry of Energy has opened three areas for CO2 storage across multiple blocks in the North Sea.

Although the application deadline is Aug. 29, the Ministry is calling on bidders to make their submissions well before that date.

In accordance with Norway’s regulations on transportation and storage of CO2 in subsea reservoirs on the continental shelf, the Ministry would normally award an exploration license before issuing an exploitation license over a relevant area.

Exploration licenses can be awarded to one or more competent companies, with one appointed by the Ministry as operator.

If a licence is awarded to several companies, the ministry will, generally, appoint one of the companies as operator.

Work programs typically include one binding phase and later conditional phases leading to continuation or relinquishment. At the conclusion of a work program, the companies must make an investment decision on a CO2 storage project, then submit a plan for development and operation for the storage location or relinquish the area.



Photo 238467618 © Josieelias |
Courtesy Norwegian Offshore Directorate