Exxon Joins Neptune In Development Of L10 CCS Offshore Project  | Rigzone

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Neptune Energy, ExxonMobil, Rosewood Exploration, and EBN Capital have signed a cooperation agreement to progress the L10 large-scale offshore carbon capture and storage project in the Dutch North Sea.

The agreement brings together the technical and commercial capabilities necessary to create a robust carbon storage offering for industrial customers in the Dutch sector.

It intends to take the L10 carbon capture and storage development to the concept select stage in 2022 and to have the project FEED-ready by the end of the year, followed by the submission of a storage license application.

Exploratory discussions with industrial emitters from various sectors are continuing, ahead of the upcoming round of applications for SDE++ funding from Dutch authorities.

“CCS is crucial for achieving the Dutch climate goals for 2030. This Cooperation Agreement is a significant step in the development of the Neptune-operated L10 project which supports our strategy to go beyond net-zero and store more carbon than is emitted from our operations, scope 1, and sold products, scope 3, by 2030.

“After the successful feasibility study, we can now combine our knowledge in the field of CCS with these parties. This next important step will enable us to jointly develop one of the largest CCS facilities in the North Sea. The reuse of our existing infrastructure means that, together, we can help achieve the climate goals, but also ensure this part of the energy transition becomes cleaner, cheaper, and faster,” Neptune Energy’s Managing Director in the Netherlands Lex de Groot said.

“We’re pleased to co-operate with our joint venture partners in this carbon capture and storage project where we can re-use existing infrastructure. With our subsurface knowledge and experience in storage, we’ll be able to contribute extensively to the development of this project. The offshore storage of CO2 is pivotal in meeting climate goals and EBN is determined to contribute to a carbon-neutral energy system,” EBN’s Program Manager for CCUS, Berte Simons, added.

This stage of the L10 carbon capture and storage project has the potential to store 4-5 million tons of CO2 annually 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.

“ExxonMobil welcomes the opportunity to collaborate with industry and the government in support of the L10 carbon capture and storage project,” claimed Dan Ammann, president of ExxonMobil Low Carbon Solutions. “Carbon capture and storage is a proven, ready-to-deploy technology that can help reduce emissions in some of the highest-emitting sectors and advance society’s net-zero goals.”

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