16 July 2021
Storegga, Sval Energi and Neptune Energy have been awarded a licence to develop the Trudvang CCS project by the Norwegian Ministry of Petroleum and Energy.
Trudvang, in the Norwegian North Sea about 165 km from the Norwegian coast, has potential to inject ca. nine million tonnes of CO2 per annum for 25 to 30 years – locking away at least 225 million tonnes (Mt) of CO2.
Significant evaluation of the subsurface storage resource, and technical and economic assessment of the CCS value chain was undertaken ahead of the application. Dynamic modelling indicates the stores could, over time, increase beyond 225 Mt.
The development’s storage reservoir is in the Utsira formation, east of the Sleipner field.
Nick Cooper, CEO of Storegga, said: “We are delighted to secure the Trudvang licence with our partners Sval and Neptune. We now look forward to delivering Trudvang, which has the potential to store ca. 20% of Norway's annual CO2 emissions and to bring substantial benefits to the Norwegian economy. Trudvang is also well located to serve emitters in continental Europe.
Storegga and its partners began work in December 2021 to identify, nominate, and apply for the licence. First injection of CO2 is targeted in 2029. Sval, nominated operator for the project, holds 40% ownership in Trudvang; with Storegga and Neptune each holding 30%.
The Trudvang license award further expands Storegga’s North Sea CCS portfolio after the UK Government’s recent confirmation of the progress into commercial negotiations for the Acorn Project in the UKCS, off Scotland’s north-east coast”.
About the Trudvang CCS partners:
Storegga is an independent, UK-based decarbonisation development business, dedicated to reducing and removing the harmful impacts of CO2 in the atmosphere. Storegga develops early-stage carbon capture and storage (CCS) and hydrogen projects in the UK, US, Norway and internationally to contribute to achieving net zero targets.
Sval Energi is a Norwegian E&P company with operations on the Norwegian continental shelf. The business had a production of 70,000 net barrels of oil equivalent per day in 2022. Sval Energi is committed to emission reductions aligned with the targets set by Offshore Norge of 50 percent reduction by 2030 and net-zero by 2050, with CCS as a tool in its decarbonisation strategy.
Neptune Energy is an independent global E&P company with operations across Europe, North Africa, and Asia Pacific. The business had production of 130,000 net barrels of oil equivalent per day in 2021. Neptune aims to store more carbon than is emitted from its operations and the use of its sold products by 2030.