Neptune Energy, ExxonMobil subsidiary XTO Netherlands Ltd., Rosewood Exploration Ltd., and EBN Capital BV signed a cooperation agreement to progress the L10 large-scale offshore carbon capture and storage (CCS) project in the Dutch North Sea.
This stage of the Neptune-operated L10 carbon capture and storage project has the potential to store 4-5 million tonnes/year of carbon dioxide (CO2) for industrial customers within depleted gas fields around the Neptune-operated L10-A, B, and E areas. It represents the first stage in the potential development of the greater L10 area as a large-volume CO2 storage reservoir, the companies said in a joint statement June 20.
The company plans to have the project FEED-ready by yearend, followed by submission of a storage license application. A final investment decision is due in 2023. First carbon injection could be in 2026.
Exploratory discussions with industrial emitters from various sectors are continuing, ahead of the upcoming round for applications for SDE++ funding from Dutch authorities, the companies said.