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."
