Aker BP receives CCS peer review

Aker BP has received a third-party Technical Peer Review independent of AGR for two carbon storage licenses in the Norwegian North Sea.

AGR conducted technical peer reviews of the EXL005 Poseidon license (covering blocks 10/7, 10/8 and 10/9) and the EXL011 license (covering blocks 25/3, 26/1, 26/2, 30/12, 31) /10 and 31/11).

The main objective of the review was to evaluate the two COs.₂ storage licenses executed in accordance with CO₂ Storage Resources Management System (SRMS).

Developed in 2017 to support the commercialization of carbon storage, the SRMS guidelines are co-sponsored by industry bodies including SPE, WPC, AAPG, SPWLA and EAGE.

In March 2023, Aker BP ASA and OMV (Norge) AS were awarded the Poseidon license under CO.₂ Storage Regulations for the Norwegian Continental Shelf. The license has a work program that includes 3D seismic acquisition and related studies, and a drill-and-release decision will be made by May 2025 at the latest.

The license could potentially provide storage of more than 5 million tonnes of CO per year₂. Poseidon is a 50/50 partnership operated by Aker BP (OGJ Online, October 20, 2023).