Vår Energi is awarded a CO2 storage licence in the North Sea, in partnership with OMV Norge AS and Lime Petroleum Norway AS, according to the company's release.
The Norwegian Ministry of Energy has awarded the operatorship of the Iroko carbon storage licence to 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.
The Iroko storage licence is located in the North Sea, northeast of the Vår Energi operated Balder field and about 130 kilometres west of the coast from Haugesund.
Licence partners: Vår Energi ASA (40%), OMV Norge AS (30%) and Lime Petroleum AS (30%)