Harbour Energy PLC Viking and Acorn projects awarded Track 2 status (7071H)
31 Juillet 2023 - 8:53AM
UK Regulatory
TIDMHBR
RNS Number : 7071H
Harbour Energy PLC
31 July 2023
Harbour Energy plc
("Harbour Energy" or "Harbour")
Harbour's Viking and Acorn CCS projects awarded Track 2
status
31 July 2023
Harbour Energy, operator of the Humber-based Viking CO(2)
transportation and storage network and partner in the Acorn CCS
project in northeast Scotland, today welcomes the news that both
projects have been awarded Track 2 status as part of the UK
Government's CCS cluster sequencing process.
Today's announcement marks an important milestone for the two
projects, allowing them to move into front end engineering and
design (FEED) and discussions with the government over the terms of
the economic licences, ahead of final investment decisions.
Viking has the potential to transport and store up to 10 million
tonnes of CO(2) annually by 2030 and 15 million tonnes of CO(2)
annually by 2035 with independently verified storage capacity of
300 million tonnes of CO(2) across the depleted Viking gas fields.
The project could be transformational for the Humber region,
potentially unlocking up to GBP7 billion of investment across the
full CO(2) capture, transport and storage value chain between 2025
and 2035, creating over 10,000 jobs during construction and
providing an estimated GBP4 billion of gross value add (GVA) to the
Humber and its surrounding areas.
The Viking CCS project can also enable, through our work with
Associated British Ports at the Port of Immingham, the potential
for shipped CO(2) from dispersed emitters elsewhere in the UK and
internationally to be transported for permanent storage within the
Viking fields, creating a new industry for the UK.
Linda Z Cook, CEO of Harbour Energy, commented:
"Today's announcement is an important step forward for Harbour's
Viking and Acorn CCS projects and the development of the carbon
capture and storage industry in the UK. It is also a further
demonstration of the key role that the oil and gas sector is
playing by using our existing infrastructure, skills and experience
to build this new industry and help deliver the energy
transition.
"Viking has the potential to be transformational for the Humber,
the UK's most carbon intensive industrial region, creating
thousands of jobs in the area and playing a vital role in
supporting the UK to meet its target to capture 30 million tonnes
of CO(2) annually by 2030."
Enquiries
Harbour Energy plc
Elizabeth Brooks, Head of Investor Relations 020 3833 2421
Brunswick
Patrick Handley, Will Medvei
020 7404 5959
Notes to editors
Harbour is operator of the Viking CO(2) transportation and
storage network with a 60 per cent interest and partnered with bp
who has a 40 per cent non-operated share. A report published in
March 2023, 'Viking CCS, transforming the Humber into a net zero
SuperPlace', outlined the economic benefits of Viking CCS and can
be viewed at www.vikingccs.co.uk .
Harbour has a 30 per cent non-operated interest in the Acorn CCS
project which is operated by lead developer Storegga.
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END
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