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OMV awarded with a second CO2 storage license in Norway

OMV, in partnership with Vår Energi and Lime Petroleum, was awarded with a second CO2 storage license by the Norwegian Ministry of Energy.

“At OMV, we are transforming into a leading provider of solutions for a sustainable and responsible energy transition, with Carbon Capture and Storage (CCS) as a key component of this mission. We have the subsurface expertise, capabilities and innovative mindset to unlock new carbon opportunities,” says Berislav Gašo, OMV Executive Vice President Energy.

The license, called Iroko, is located in the Central Norwegian North Sea and can store around 215 million metric tons of CO2, with the injection capacity expected to exceed 7.5 million metric tons of CO2 per year. It will be operated by Vår Energi (40%) in partnership with OMV (Norge) AS (30%) and Lime Petroleum AS (30%).