Aker BP’s CO2 storage licenses undergo technical peer review by ABL firm

Norway’s AGR, part of the energy and marine consultancy group ABL Group, has delivered a technical peer review of two carbon storage licenses in the Norwegian North Sea for compatriot E&P company Aker BP.

AGR conducted an independent third-party technical peer review of the EXL005 Poseidon license, covering blocks 10/7, 10/8, and 10/9, and EXL011 license awarded to Aker BP in 2024, covering blocks 25/3, 26/1, 26/2, 30/12, 31/10, and 31/11.

According to the company, the review’s main goal was to ensure the evaluation of the two CO2 storage licenses has been conducted in accordance with the CO2 Storage Resources Management System (SRMS), developed in 2017 to support the commercialization of carbon storage.

The work was performed by AGR’s reservoir management and subsurface team, which also includes subsurface experts from Ross Offshore, acquired by AGR earlier this year.

To remind, Aker BP and OMV (Norge) were awarded the Poseidon license in March 2023 by the Norwegian Ministry of Petroleum and Energy. The license comes with a work program that includes a 3D seismic acquisition and related studies, followed by a drill-or-drop decision by May 2025 at the latest.

Aker BP holds a 60% interest and will operate the license, while OMV Norge holds the remaining 40%.

In terms of related news coming from AGR, the company announced in May it had been appointed to perform an independent third-party storage evaluation of Wintershall Dea and Altera Infrastructure’s CO2 storage license offshore Norway.

This latest announcement regarding work for Aker BP follows AGR being selected by Norway’s state-owned energy giant Equinor for the provision of subsurface and field development support related to project developments of its facilities, offshore installations and onshore plants.