Carbon Catalyst Limited (CCL) said Friday it had reached an agreement with Summit Energy Evolution Limited (SEEL), a subsidiary of Sumitomo Corporation, to farm out a 10% working interest in the Orion carbon storage license located in the Southern North Sea sector of the UK Continental Shelf.
SEEL joins CCL and license operator Perenco in this strategically advantageous decarbonization project, as CCL describes it. The farmout agreement is subject to regulatory approval and will mark SEEL’s entry into the UK carbon storage sector.
The project consists of two Carbon Storage Licenses, CS017 and CS018, which cover the Perenco UK (PUK)-operated and decommissioned Amethyst and depleted West Sole gas fields.
These fields are the most geographically proximal offshore storage sites to Humberside, the UK’s largest industrial cluster, and are directly connected by pipeline to the PUK-operated onshore Dimlington Gas Terminal.
Henry Morris, Executive Director at Carbon Catalyst, commented: “CCL is very pleased to welcome SEEL to the Orion CCS project. SEEL not only brings extensive experience from its former activities in the UK oil and gas sector and leadership of the Bacton Energy Hub, but also leverages Sumitomo Corporation’s global energy transition activities across shipping, hydrogen production and transportation, alternative sustainable fuels and energy transition infrastructure.”
The news comes just days after Carbon Catalyst Limited (CCL) completed the farmout of a 10% stake in the Poseidon carbon storage license located in the Southern North Sea sector of the UK Continental Shelf, to Wintershall DEA. Read more here.