15 February 2019
Vår Energi invests in carbon capture and storage research
Vår Energi 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.
“This partnership complements Vår Energi’s research and development portfolio. The company is committed to reduce the emissions of greenhouse gases through CCS technology development”, says Oddvar Ims, R&D Manager in Vår Energi.
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 Centre by enabling fast-track CCS technology development and deployment by addressing major barriers in industry projects.
“It is a proud moment for NCCS to welcome Vår Energi to one of the largest CCS R&D efforts worldwide. Personally, I am sure Vår Energi will bring enlarged momentum to the centre”, says Mona J. Mølnvik, NCCS Director and Research Director at SINTEF.
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.
“Our objective is to further minimize environmental impact in our operations, and reducing greenhouse gas emissions is a key element in our mission. The Vår Energi-operated Goliat field in the Barents Sea demonstrates this commitment by being mainly electrified with power from shore, making it one of the lowest CO2 emitting fields on the Norwegian continental shelf. All initiatives to reduce the carbon footprint are positive, and CCS deployment is an effective measure. We hope that our contribution in addition to others, will further enable NCCS’ progress”, Ims adds.
This partnership supports the Norwegian full-scale CCS project, in alignment with governmental ambitions. In addition to this, the centre also supports its industry partners in developing the necessary knowledge for large scale CO2 storage in the Norwegian part of the North Sea basin.
“Supported by the Research Council of Norway and the partnership, NCCS will contribute to the development of cost and energy efficient CCS technologies, smart business models, and CCS deployment at large scale in Norway, Europe and globally”, says Mølnvik.
For more information: www.nccs.no
About Vår Energi AS
Vår Energi AS is a new leading, independent E&P company on the Norwegian continental shelf (NCS) and the result of the merger of Point Resources AS and Eni Norge AS in late 2018. Vår Energi is jointly owned by Italy based energy company Eni (69.6 percent) and Norway based leading private equity investor HitecVision (30.4 percent). Every year, Vår Energi invests over NOK 100 million in R&D projects on the NCS.
For more information: www.varenergi.no
Elisabeth Fiveland, press spokesperson in Vår Energi
Mobile: +47 930 50 707
Mona J. Mølnvik, NCCS Director and Research Director at SINTEF