ExxonMobil awarded licences to test for potential CCS locations

The licences were awarded by UK regulator, the North Sea Transition Authority (NSTA).

The licences are off the east coast of England, in waters where ExxonMobil has developed oil and gas resources for decades. If assessments prove successful, we will apply to the UK government for permission to develop the carbon storage projects, which would support the UK’s ambition to store more than 50 million tpy of carbon by 2050.

CCS is one of the few proven solutions that can significantly reduce CO₂ emissions from industrial sectors – including the energy industry.

Stuart Payne, Chief Executive of the NSTA, said: “Carbon storage will play a crucial role in the energy transition, storing CO₂ deep under the seabed and playing a key role in hydrogen production and energy hubs.”

According to the NSTA, the areas included in the licensing round cover about 12 000 km² and could store up to 30 million tpy of CO₂ per year by 2030 – equal to about 10% of the UK’s emissions in 2021. The potential storage areas are a mix of depleted oil and gas reservoirs and saline aquifers.

Read the article online at: https://www.hydrocarbonengineering.com/the-environment/20092023/exxonmobil-awarded-licenses-to-test-for-potential-ccs-locations/