Norwegian Aker BP and Austrian OMV Cooperate for CO2 Storage License

OrganizationsOther ♦ Published: April 3, 2023; 17:38 ♦ (Vindobona)

Norwegian oil and gas company Aker BP ASA and the Norwegian offshoot of Austria's OMV AS have signed a cooperation agreement on carbon capture and storage (CCS). As a result, both companies have been granted a license under CO2 storage regulations on the Norwegian continental shelf.

The licensing, which concretizes the cooperation with Aker BP, will be used as know-how for OMV to expand CCS activities off the Norwegian coast. / Picture: © Wikimedia Commons / DanielZanetti / CC BY 3.0 (

The license awarded to Aker BP and OMV is located in the Norwegian North Sea and will be named "Poseidon". Aker BP has a 60% interest and OMV (Norge) AS has a 40% interest in the license, which will be operated by Aker BP. The license is tied to a work program that includes 3D seismic and a drilling or abandonment decision by 2025.

The Poseidon license could allow the storage of…