Norway’s Lime Petroleum mulls offshore CCS

Norwegian energy company Lime Petroleum said November 11 it was taking early steps toward the development of a carbon capture and storage (CCS) site off the nation’s coast.

Lime said it entered into an agreement with Nautilus Carbon Services, which is also in Norway, to take early steps toward developing a storage site on the Norwegian continental shelf. This is the first phase of a project that would involve several other partners.

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“Phase I of the project will include research and development work to outline and describe the methodology and possible locations for a CO₂ storage site,” the company explained.  “Upon completion, a decision will then be made to initiate Phase II, the goal of which is to secure the award of an exploitation licence on the Norwegian continental shelf with an application to the authorities.”

Norway already has a leadership position in CCS technology, with several major projects in the works. The government estimates that there is the capacity to store as much as 80bn metric tons of CO₂ in the Norwegian continental shelf.

Lime said CCS technology is a necessary part of the path to achieving a net-zero economy by 2050. The company recently acquired a 33.8% stake in the producing Brage field off Norway, where operator Wintershall Dea is studying options for CCS.

“A main assumption reaching the goals by 2050 is that 95% of the captured volume needs to be stored in such geological formations,” the company said.