Norwegian Drilling Company Joins Carbon Capture Research Group
Vår Energi, and oil company operating on the Norwegian continental shelf, has entered into a partnership with the Norwegian Carbon Capture & Storage Research Centre (NCCS) to enable fast-track CCS technology development and deployment. The agreement has a total value of 30 million NOK over a six-year period and is part of an industry-driven and science-based innovation effort.
Vår Energi will contribute by investing 5 million NOK every year for a period of six years. The joint industry project commenced in 2017 and will continue until 2025. NCCS’ main objective is to become a world-leading CCS center by enabling fast-track CCS technology development and deployment by addressing major barriers in industry projects.
CCS is considered to be one of the most promising solutions to effectively reduce emissions of greenhouse gases on a global scale, as a means of limiting atmospheric CO2 emissions. The NCCS consortium comprises several oil and gas companies, CCS technology vendors and users in the private and commercial sector. The joint industry project also consists of institutions such as SINTEF, NTNU, UiO, NGI and others.
The partnership supports the Norwegian full-scale CCS project, in alignment with governmental ambitions. In addition to this, the center also supports its industry partners in developing the necessary knowledge for large scale CO2 storage in the Norwegian part of the North Sea basin. —Vår Energi