Carbon Capture, Storage and Utilization
Reaching net zero requires more than just cutting emissions – it demands smart carbon management. This means avoiding emissions wherever possible, capturing those that can't be avoided, storing them safely, and finding ways to reuse the carbon in new applications.
Our CCS ambitions
Carbon Capture, Storage and Utilization (CCS/CCU) is a crucial part of this approach. In this process, carbon dioxide is captured at its source. It can then be compressed into a safely transportable form and stored deep underground, or it can be used to create new products such as synthetic fuels and materials.
With decades of experience in reservoir management and subsurface engineering, we are building capabilities in CCS.
Berislav Gašo
OMV Executive Vice President Energy
Through CCS projects, we intend to offset absolute emissions from both our own operations and third parties. Our main focus is on the North Sea, where we hold two storage licenses with partners. We are also evaluating new opportunities onshore and offshore opportunities in Central and Eastern Europe.
A safe, proven technology
CCS has been used since the 1970s and has a strong safety record worldwide. Once injected deep underground, CO2 gradually dissolves and solidifies, becoming a permanent part of the rock formation. In the EU, regulations require CCS sites to be monitored for 30 years, ensuring long-time safety.
Partnership, investment and innovation
We are calling for partnerships across the value chain to build a strong network of expertise. These collaborative efforts will help to unlock innovation and enable projects with the scale and investment needed to achieve meaningful progress.
How does CCS/CCU work?
In CCS, CO2 is captured from industrial sources and stored safely underground. CCU goes a step further by using the captured CO2 to create new products and materials.
Steps: from above – to below – and beyond
From above
- Capture:
CO2 is separated from other gases in industrial exhaust streams at the point of emission
- Compression:
The captured CO2 is compressed and converted into liquid or gas form
- Transport:
It is then transported by pipeline, ship, or rail to the storage or utilization site
To below
- Storage:
CO2 is injected deep underground into offshore or onshore reservoirs. A cap of permeable rock is used to seal the reservoir, ensuring safe and permanent storage - Monitoring:
Sites are continuously monitored to verify stability and containment over the long term
And beyond
- Utilization:
Captured CO2 can also be used as a feedstock to produce fuels, chemicals, or other materials - giving it a second life and supporting a circular carbon economy
Our CCS Projects
Poseidon license
Together with Aker BP, we hold the Poseidon license to store CO2 in the Norwegian North Sea. The project has the potential for over 5mn tons of CO2 to be stored annually. We plan to use the site to store CO2 captured from industrial plants across North-West Europe, including Borealis’ European facilities. A 3D seismic survey was successfully carried out in late 2023. In 2027, a drill-or-drop decision will be made.
Iroko license
In partnership with Vår Energi (operator) and Lime Petroleum AS, we were awarded a second CO2 storage license. The Iroko site, located in the Central Norwegian North Sea, has an estimated storage capacity of around 215mn metric tons of CO2. The injection capacity is expected to exceed 7.5mn metric tons of CO2 per year.