Equinor Receives Eighth CO2 Storage License in the North Sea

Equinor Low Carbon Solution, a subsidiary of Norway’s state-owned energy giant Equinor, has been offered an exploration license for CO2 storage in the North Sea, marking the eighth time acreage has been awarded for this purpose on the Norwegian Continental Shelf (NCS).

Following the Norwegian Ministry of Energy’s invitation to interested parties to apply for CO2 storage exploration licenses in an area covering defined blocks in the North Sea, the authorities have evaluated the data received after their announcement in March 2025 to award CO2 storage acreage for the eighth time.

Afterward, the Norwegian Ministry of Energy made an offer for a new exploration license related to CO2 storage on the NCS to Equinor Low Carbon Solution. This North Sea license is offered with a binding work program and built-in milestones to ensure fast and efficient progress or relinquishment of the acreage if the licensees do not complete the storage project.

The country’s Ministry of Energy sees great potential for carbon storage on the NCS, with 13 licenses awarded for storage of CO2 so far, encompassing one exploitation license and 12 exploration licenses. The latest offer is the 14th license for CO2 storage in subsea reservoirs on the Norwegian Continental Shelf.

Terje Aasland, Norway’s Minister of Energy, highlighted: “The government is making it possible for Norway to receive large quantities of CO2 from Europe. The storage will take place on commercial terms, where those with emissions pay for the storage.

“This will be the fourteenth license for CO2 storage on the Norwegian Continental Shelf. This shows that there is interest in offering safe and secure storage of CO2 captured in Europe.”

The Norwegian government is facilitating the economically viable storage of CO2 on the NCS to speed up the decarbonization game, as illustrated by its proposal to allocate NOK 2.1 billion or $197.3 million in the state budget for 2025 to the full-scale CO2 capture, transport, and storage development known as Longship.

After Equinor drilled two appraisal wells in the Norwegian North Sea, finding suitable properties for CO2 injection and storage, Harbour Energy also recently confirmed another reservoir suitable for such activities.