PARIS, France — TotalEnergies has signed an agreement to acquire CapeOmega’s 40% stake in the CO2 storage exploration license ExL004 in the Norwegian North Sea, covering the proposed Luna project. Wintershall DEA Norge operates with a 60% interest.
The 453-sq-km concession is 120 km offshore Bergen in 200 m of water depth, and it is adjacent to the license in which the Northern Lights CO2 storage project (TotalEnergies, 33%) is under development. Here, Phase 1 operations are due to start in 2024.
“Subject to a successful exploration, this area could enable the storage of several hundred million tons of CO2 from hard-to-abate industries in Europe,” said Arnaud Le Foll, TotalEnergies' senior vice president of new business - carbon neutrality.
“With the Northern Lights startup in 2024 and other projects under development in the Netherlands [Aramis], Denmark [Bifrost] and the UK, TotalEnergies is building a world-class carbon storage portfolio across the North Sea. Norway will play a leading role in this portfolio thanks to its large geological storages and supportive government policies.”
08.22.2023
