EnQuest wins carbon storage licences offer in UK
EnQuest has successfully obtained carbon storage licences offer as part of the first round of UK carbon sequestration licences issued by the North Sea Transition Authority (NSTA), the company said on May 18.
The licences are for the Northern North Sea 1 and Northern North Sea 2 application areas, located approximately 99 miles northeast of Shetland. These areas include EnQuest's operated fields, such as Magnus and Thistle, as well as the non-operated Tern and Eider fields.
EnQuest plans to transport carbon dioxide in liquid form to the Sullom Voe terminal (SVT) in Shetland and utilise the existing infrastructure and jetties at the terminal. From there, the CO2 will be transported via the East of Shetland pipeline for injection and permanent storage offshore.
This approach offers flexibility and the ability to provide carbon storage services to isolated emitter clusters in the UK, Europe, and beyond, who may not have access to storage infrastructure, the company said.
EnQuest's CFO, Salman Malik, highlighted the company's plans to develop a low-cost carbon megastore capable of storing 10mn metric tons/year of CO2.
“With our comprehensive operational knowledge of the North Sea and our extensive infrastructure operations, EnQuest is uniquely placed to maximise the potential of these geological reservoirs as cost-effective and efficient carbon stores, servicing emitters from Scotland, the rest of the UK, Europe and beyond,” Malik said.
EnQuest's CEO, Amjad Bseisu, stated that the carbon storage initiative presents an opportunity to transition oil and gas skillsets, creating new economic opportunities and supporting education and skills training.
EnQuest operates the Sullom Voe terminal, which includes four jetties capable of accommodating large vessels, and the East of Shetland pipeline network.