Carbon Storage: Vår Energi Acquires Feistein CCS

Tuesday, July 11, 2023
EVP Technology, Drilling & Subsurface in Vår Energi, Ingrid Sølvberg - Credit: Var Energi

Norwegian offshore oil and gas producing firm Vår Energi has acquired Feistein CCS – a company specializing in maturing large-scale, cost-efficient CO2 storage opportunities, in a push to accelerate decarbonisation efforts through carbon storage application opportunities on the Norwegian continental shelf (NCS). 

The company said that carbon capture and storage (CCS) will play a key role in meeting global energy and climate goals, and the NCS holds significant carbon storage potential.

The acquisition Feistein CCS has been described as a strategic fit, by EVP Technology, Drilling & Subsurface in Vår Energi, Ingrid Sølvberg, who said:"Technological development and investments in low-emission solutions is needed to support the pathway to net zero, and the acquisition of Feistein CCS accelerates our position and competence on CO2-storage. We are a predictable, reliable, and low emission provider of energy, and decarbonization activities are a natural part of being a pure play oil and gas company on the NCS."

Categories: Mergers & Acquisitions Industry News Activity CCS Carbon Storage Carbon Capture And Storage

Related Stories

Vard Books Construction Order for CSOV Pair

Vard Books Construction Order for CSOV Pair

Cadeler Adds Wind Keeper WTIV to Fleet, Locking in Long-Term Vestas Deal

Cadeler Adds Wind Keeper WTIV to Fleet, Locking in Long-Term Vestas Deal

Perenco Brings Woodside’s Trinidad Oil and Gas Assets Into Its Fold

Perenco Brings Woodside’s Trinidad Oil and Gas Assets Into Its Fold

Current News

SLB Narrowly Beats Quarterly Profit Estimates

Vard Books Construction Order for CSOV Pair

ABL to Deliver Grid Works for 600MW French Offshore Wind Farm

Cadeler Adds Wind Keeper WTIV to Fleet, Locking in Long-Term Vestas Deal

Subscribe for OE Digital E‑News

Offshore Engineer Magazine