Harbour Energy and BP Pair Up to Deliver UK's Viking Carbon Capture Project

By Joe Hoppe

Harbour Energy PLC said Tuesday that it has agreed to develop the Viking carbon capture and storage project at Humber, England, together with BP PLC.

The U.K. oil-and-gas company said it will continue as operator of Viking with a 60% interest, while BP will acquire a 40% non-operated share. The project has the potential to meet a third of the U.K. government's target to capture and store up to 30 million tons of carbon dioxide by 2030, Harbour said.

A final investment decision is expected in 2024. The project could be operational by 2027 and potentially storing up to 10 million tons of carbon dioxide by 2030.

The Viking CCS pipeline is a 55-kilometer pipeline planned to transport carbon dioxide from Immingham to the former Theddlethorpe gas terminal. From there, it will join an existing offshore pipeline to the Viking area in the North Sea, where the carbon dioxide will be injected into depleted gas reservoirs beneath the seabed.

Harbour said the project could be transformational for the area, potential unlocking up to 7 billion pounds ($8.67 billion) of investment over the full carbon-dioxide value chain over the next decade.

Write to Joe Hoppe at [e-mail]

(END) Dow Jones Newswires

April 11, 2023 02:33 ET (06:33 GMT)

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