Carbon Capture and Storage (CCS) technology is broadly recognized as one of the most viable options to reach the ambitious global climate change target, since renewable power alone will not achieve net zero by 2050. CCS involves trapping carbon dioxide (CO₂) emissions and locking them away, preferably offshore, kilometers below the seabed in an underground geological formation containing saline aquifers, so that they never enter the atmosphere. 

Unfortunately, the current rate of progress is falling short of these climate goals. WE, as the leading well management company in Norway, has therefore made a commitment to actively participate in accelerating the energy transition with the commercialization of the CCS storage as the main focus area. 

As we look to a greener future, the quoted magnitude of CO₂ required to be captured and stored is several giga tons on a yearly basis.  As a ‘’rule of thumb’’, one CO₂ injection well is capable of injecting 1,5-2,0 million tons of CO₂ annually. This translates to thousands of wells required for CO₂ storage in the coming years and demonstrates how large this CCS industry will rapidly need to become.

No doubt, CCS is critical in this ongoing energy transition from fossil fuels to renewable energy systems. 

In very much the same way that CCS can be viewed as a bridge between fossil fuels and renewable energy, WE, with its expertise within E&P, can be the bridge between E&P and CCS. CCS subsurface mapping, well construction, injection testing, reservoir engineering and field development to name a few, largely follow well proven practices in the petroleum industry

WE considers the technology readiness level (TRL) for the storage part of the CCS value chain to be in a commercial phase of development despite some operational steps and services being different to the standard E&P wells.