Vår Energi is awarded a CO2 storage licence in the North Sea, in partnership with OMV Norge AS and Lime Petroleum Norway AS.

The Norwegian Ministry of Energy has awarded the operatorship of the Iroko carbon storage licence to Vår Energi. The Iroko area has the potential to store up to 7,5 million tonnes of CO2 annually for at least 30 years, a total of approximately 215 million tonnes.

The Iroko storage licence is located in the North Sea, northeast of the Vår Energi operated Balder field and about 130 kilometres west of the coast from Haugesund.

Licence partners: Vår Energi ASA (40%), OMV Norge AS (30%) and Lime Petroleum AS (30%)

About Vår Energi

Vår Energi is a leading independent upstream oil and gas company on the Norwegian continental shelf (NCS). We are committed to deliver a better future through responsible value driven growth based on over 50 years of NCS operations, a robust and diversified asset portfolio with ongoing development projects, and a strong exploration track record. Our ambition is to be the safest operator on the NCS, the partner of choice, an ESG leader with a tangible plan to reduce emissions from our operations by 50% within 2030. Vår Energi has around 1400 employees and equity stakes in 47 fields. We have our headquarters outside Stavanger, Norway, with offices in Oslo, Hammerfest and Florø.