Neptune, ExxonMobil, Rosewood and EBN to cooperate on carbon capture and storage

By Keefe Borden20 June 2022

Once complete, the project will use assets from the L10 fields offshore The Netherlands. (Image: Neptune Energy.)

Neptune Energy, XTO Netherlands, Rosewood Exploration and EBN Capital have agreed to develop a large offshore carbon capture and storage project in the Dutch North Sea.

The companies intend 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. Meanwhile, the companies are having exploratory discussions with industrial emitters from various sectors ahead of the upcoming round for applications for funding from Dutch authorities.

The partners recently started a feasibility study into the possibility of injecting CO2 into the depleted gas fields around the Neptune-operated L10-A, L10-B and L10-E areas. If the project is developed, it will be one of the largest CCS facilities in the Dutch North Sea and could meet more than 50% of the CO2 reduction being targeted by the Dutch industrial sector, Neptune Energy said.

Neptune Energy’s Managing Director in the Netherlands, Lex de Groot, said: “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 feasibility study, Neptune will combine its knowledge of carbon capture with the other companies in the agreement. The next step will be to jointly develop one of the largest CCS facilities I n the North Sea. The companies will reuse their existing infrastructure in the region.

“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,” said EBN’s Program Manager CCUS, Berte Simons. “With our subsurface knowledge and experience on storage we’ll be able to contribute extensively to the development of this project.”

He called the offshore storage of CO2 “pivotal” in meeting climate goals.

“ExxonMobil welcomes the opportunity to collaborate with industry and the government in support of the L10 carbon capture and storage project,” said 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.”

This stage of the L10 carbon capture and storage project has the potential to store 4-5 million tonnes 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, the companies announced.

Energie Beheer Nederland (EBN) is a Dutch state-owned energy company. Neptune Energy is an independent global oil and gas company based in the UK. It is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners. Rosewood Exploration Ltd. is an independent energy company with assets in the North Sea. XTO is a division of ExxonMobil.

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