Lime Petroleum AS (“Lime”), in partnership with OMV Norge AS and Vår Energi ASA, has been awarded a CO2 storage licence in the North Sea by the Norwegian Ministry of Energy today1. The Iroko carbon storage licence, located in the North Sea about 130 kilometres west of the coast from Haugesund, will be operated by Vår Energi.
The Iroko area has the potential to store up to 7.5 million tonnes of CO2 annually for at least 30 years, a total of approximately 215 million tonnes.
Lars Hübert, Chief Executive Officer of Lime, said, “We have worked on this project with our partners for some time now and are very pleased to be awarded this CO2 storage licence, a first for Lime and an important milestone to us, as it brings us a step closer to fulfilling our vision of a net zero future with an abundance of energy.”
The licence partners of the Iroko carbon storage licence are: Vår Energi ASA (40%), OMV Norge AS (30%) and Lime Petroleum AS (30%).
1Norwegian Ministry of Energy, Awarding four new licenses for CO2 storage on Norwegian continental shelf, 20 June 2024
Comments