Horisont Energi signed a letter of intent with PGNiG Upstream Norway that would make the latter a partner and operator in Polaris, the sole CO2 exploration license awarded to date in the Barents Sea.
Courtesy Horisont Energi
Offshore staff
SANDNES — Horisont Energi has signed a letter of intent with PGNiG Upstream Norway that would make the latter a partner and operator in Polaris, the sole CO2 exploration license awarded to date in the Barents Sea offshore Norway.
The admission process and transfer of operatorship for the EXL003 license should complete by early December.
Polaris covers a saline aquifer 140 km offshore Hammerfest, Norway, with an areal extent of 350 sq km and a structural apex of the reservoir of 1,400 m TVDSS.
The partnership should also help advance Horisont’s Barents Blue clean ammonia project in northern Norway by providing CO2 storage capacity. In June the company secured the power supply for the planned development, followed last month by a joint development agreement of the blue ammonia complex with fertilizer company Fertiberia.
Although a preferred CO2 storage solution for the Barents Blue project, the Polaris license should also provide additional storage volumes for other CO2 clients, Horisont said.
