Perenco UK and Carbon Catalyst Ltd (CCL) have received a license to advance the Poseidon carbon seize and storage (CCS) challenge from the North Sea Transition Authority’s (NSTA) first aggressive carbon storage spherical.
The Poseidon challenge encompasses the Leman gasoline fields, one of many largest geological buildings within the Southern North Sea sector of the UK Continental Shelf (UKCS). Leman gives a mix of depleted gasoline reservoirs and saline aquifers wherein carbon dioxide will be completely saved, Perenco stated in a information launch. Leman is related by way of pipeline to the PUK Bacton Terminal, which can obtain and course of carbon dioxide from numerous onshore sources and ship it offshore to inject into reservoir rocks for geological storage.
The challenge, which is predicted to start out operations in 2029, “has the potential to considerably decarbonize each the East and Southeast of England”, Perenco stated. Preliminary carbon dioxide injection charges might be round 1.5 million metric tons every year (mtpa), ramping as much as 40 mtpa over a 40-year interval, based on the discharge.
Perenco stated that the challenge will transfer into additional detailed appraisal of the storage websites as the corporate works with midstream and upstream companions. Perenco acknowledged that the CCS license is “an thrilling milestone” and formalizes the beginning of a brand new strategic division, the Perenco CCS Division, inside the Perenco Group, focusing on CCS initiatives in the UK and globally.
“It is a incredible alternative to leverage Perenco UK’s deep expertise of gasoline operations by creating a challenge that can assist to help the UK’s power transition, generate extremely expert jobs regionally and nationally, and actively facilitate the federal government’s NetZero targets. We look ahead to working with all stakeholders to ship this strategic challenge”, Perenco UK Normal Supervisor Jo White stated.
“Poseidon has the potential to make a really materials contribution to the decarbonization of the UK financial system by storing as much as 40 million tonnes of CO2 per 12 months into the large depleted Leman gasoline subject and overlying aquifer system”, Carbon Catalyst Govt Director Henry Morris stated. “CCL is wanting ahead to supporting Perenco as they progress by the appraisal interval in the direction of remaining funding resolution, with the final word purpose of reaching first CO2 injection by 2029”.
Decommissioning Progress within the North Sea
In the meantime, the North Sea oil and gasoline trade spent $2.03 billion (GBP 1.6 billion) decommissioning redundant wells and infrastructure final 12 months, greater than in any of the earlier 5 years, based on a current report from the NSTA.
Exercise ranges are anticipated to stay excessive, with the NSTA projecting about $2.54 billion (GBP 2 billion) to be spent on decommissioning yearly within the subsequent decade, which is “a large alternative to maintain creating abilities and expertise within the basin and assist the availability chain win profitable contracts abroad by reinforcing its standing as [a] international chief”, the regulator stated.
“The North Sea decommissioning sector is extremely lively and productive, and the trade is ideally positioned to comprehend the huge [$26.67 billion] GBP 21 billion alternative which can come its approach over the following 10 years”, NSTA Director of Provide Chain and Decommissioning Pauline Innes stated. “Nevertheless, operators should redouble their dedication to collaborate with the availability chain and plan much more successfully if they’re to beat difficult market circumstances and stay aggressive on value. The NSTA will proceed to make use of its powers and affect to help the trade because it strives for steady enchancment, together with by the event of recent benchmarks.”
“It’s crucial that North Sea operators work collectively to make sure that oil and gasoline belongings which, on the finish of their manufacturing life, can’t be repurposed to help new applied sciences like carbon seize and storage, are decommissioned safely and in probably the most cost-effective method”, North Sea govt vice chairman at Harbour Power Bob Fennell stated. “Collaborating and sharing knowledge is a vital first step to offering the availability chain with the visibility and confidence they require to fulfill UK demand for such works in a well timed and cost-competitive approach”.
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