The Norwegian Ministry of Energy is inviting interested parties to apply for CO2 storage exploration licenses related to one area on the Norwegian Continental Shelf (NCS), representing the eighth time such acreage is announced on NCS.
The announcement was made on March 5 for the area that comprises defined blocks in the North Sea. The application deadline is April 23 at 12:00.
According to the Norwegian Ministry of Energy, awards of such areas are a prerequisite for large-scale carbon capture and storage (CCS). A commercial company has made inquiries to the ministry with the desire for the award of one specific storage area, which forms the basis for the area now being announced.
“It’s good that there is interest in areas that can be used for CO2 storage. The purpose of allocating land is to be able to offer stakeholders in Europe large-scale CO2 storage on commercial terms,” said Norway’s Minister of Energy Terje Aasland .
Announcement and possible allocation of the area for a storage permit will take place after individual application. The permitting process is initiated by companies applying for permits according to the storage regulations, after having established that they have a sufficiently good basis for applying.
So far, a total of 13 licences have been awarded for CO2 storage on the NCS, including 1 exploitation licence and 12 exploration licences.
In the seventh call, licenses for two areas in the North Sea were offered to Aker BP, Equinor, and Harbour Energy Norge.
Also of note, the Norwegian government announced in 2024 its intention to continue investments in the full-scale CO2 capture, transport, and storage development – Longship, proposing an allocation of NOK 2.1 billion or $197.3 million for the project in the state budget for 2025.