Deal Signed to Progress Carbon Capture and Storage

Neptune Vitality, ExxonMobil subsidiary XTO Netherlands, Rosewood Exploration and EBN Money B.V. signed a cooperation settlement to development the L10 big-scale offshore carbon seize and storage project in the Dutch North Sea.

The settlement aims to consider the L10 carbon seize and storage advancement to the strategy pick out stage in 2022 and to have the venture FEED-prepared by the stop of the year, followed by the submission of a storage licence application.

“CCS is very important for accomplishing the Dutch local climate ambitions for 2030,” reported Lex de Groot, Neptune Energy’s Running Director in the Netherlands. “This Cooperation Agreement is a major action in the development of the Neptune-operated L10 task which supports our strategy to go over and above internet zero and store more carbon than is emitted from our operations, scope 1, and bought merchandise, scope 3, by 2030.”

This phase of the L10 carbon capture and storage challenge has the possible to shop 4-5 million tonnes of CO2 each year for industrial consumers in just depleted fuel fields all over the Neptune-operated L10-A, B and E places. It represents the very first stage in the opportunity progress of the increased L10 region as a large-volume CO2 storage reservoir.