North Sea Oil Producers Progress Offshore Carbon Storage Scheme

This stage of the project expects to store 4-5 million tonnes of CO2 annually within depleted gas fields operated by Neptune Energy in the North Sea.

It’s the first stage in the development of the L10 area that aims to develop the site as a large-volume C02 storage reservoir for industrial customers.

“CCS is crucial for achieving the Dutch climate goals for 2030. This Cooperation Agreement is a significant step in the development of the Neptune-operated L10 project which supports our strategy to go beyond net zero and store more carbon than is emitted from our operations, scope 1, and sold products, scope 3, by 2030,” said Neptune Energy’s Managing Director in the Netherlands, Lex de Groot in a written statement about the agreement.

The cooperation agreement aims to leverage the expertise of the different companies.

Lead partner Neptune Energy, for instance, has previously carried out a 14-year project to reinject CO2 into the gas field on its K12-B offshore platform, according to Gas World.