bp and Harbour Energy have entered into an agreement to develop the Viking carbon capture and storage (CCS) and transportation project.

The project is predicted to meet one-third of the UK Government’s target to capture and store up to 30 million tonnes of carbon dioxide annually by 2030.

It has also the potential to unlock £7 billion of investment, create more than 10,000 jobs and provide an estimated £4 billion of gross value add to the Humber and surrounding areas.

The agreement sees Harbour continuing as operator of Viking CCS with a 60% interest, while bp acquires a 40% non-operated share.

The deal comes as the UK Government recently launched Track 2 of its CCS cluster sequencing process and recognized that Viking CCS is one of two leading transport and storage system contenders for this process.

Linda Z Cook, Chief Executive Officer of Harbour Energy, expressed excitement about the potential of the project, stating that “Viking CCS has the potential to unlock billions of pounds of investment across the full CCS value chain and is crucial for the UK to meet its emissions reduction targets.”

Louise Kingham, Senior Vice President Europe and Head of Country UK for bp, emphasised the company’s commitment to “Backing Britain” and helping the country achieve its net zero goals.

Article source: https://www.energylivenews.com/2023/04/11/bp-and-harbour-energy-team-up-for-viking-ccs-project/