At the forefront in carbon storage

November 30, 2005, 15:30 CET

Storing carbon dioxide in geological formations represents a big opportunity for reducing greenhouse gas emissions. Statoil's senior vice president for the environment, Tor Fjæran, said this at a seminar on carbon dioxide capture and storage in London today, 30 November.

Statoil is a pioneer in storage of carbon dioxide. Since 1996, carbon dioxide from the Statoil-operated Sleipner West field in the North Sea has been stored in the Utsira reservoir. This method will also be adopted on the Snøhvit field in the Barents Sea.

In addition, Statoil is participating in a capture and storage project in Algeria's In Salah gas field.

"Statoil has long and extensive experience of storing carbon dioxide," says Mr Fjæran.

"This is an environmentally friendly and safe method for reducing carbon emissions.

" Storing carbon dioxide has great potential, particularly near existing oil reserves in the North Sea. This applies to both the UK and the Norwegian continental shelves."

He also emphasised that capture and storage of carbon dioxide is an important step towards reaching the Kyoto targets for reducing greenhouse gas emissions.

"We want to share the experience we have gained about carbon dioxide storage to increase knowledge amongst policy makers and the general public."

UK energy minister Malcolm Wicks and Norwegian petroleum and energy minister Odd Roger Enoksen signed a joint declaration on geological storage of carbon dioxide below ground at the seminar.