Aker BP received an independent third-party Technical Peer Review from 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 review’s main goal was to ensure the evaluation of the two CO2 storage licenses has been conducted in accordance with the CO2 Storage Resources Management System (SRMS).
Developed in 2017 to support the commercialization of carbon storage, the SRMS guidelines are co-sponsored by industry organizations, including SPE, WPC, AAPG, SPWLA, and EAGE.
In March 2023, Aker BP ASA and OMV (Norge) AS were awarded the Poseidon license in accordance with the CO2 Storage Regulations on the Norwegian Continental Shelf. The license has a work program which includes a 3D seismic acquisition and related studies, followed by a drill-or-drop decision by May 2025 at the latest.
The license could potentially provide storage of more than 5 million tonnes/year of CO2. Poseidon is a 50/50 partnership, operated by Aker BP (OGJ Online, Oct. 20, 2023).
