A cooperation agreement has been signed between Neptune Energy, ExxonMobil subsidiary XTO Netherlands, Ltd., Rosewood Exploration Ltd., and EBN Capital B.V. to progress the L10 large-scale offshore carbon capture and storage project in the Dutch North Sea.

A robust carbon storage offering for industrial customers in the Dutch sector will now be possible thanks to the agreement, which brings together the technical and commercial capabilities needed. A storage license application will be submitted by the end of the year once the L10 project is FEED-ready. The project is intended to reach the concept select stage by 2022.

Neptune Energy’s Managing Director in the Netherlands, Lex de Groot, said: “CCS is crucial for achieving the Dutch climate goals for 2030. This Cooperation Agreement is a significant step in the development of the Neptune-operated L10 project which supports our strategy to go beyond net zero and store more carbon than is emitted from our operations, scope 1, and sold products, scope 3, by 2030.”

EBN’s Program Manager CCUS, Berte Simons, said: “We’re pleased to co-operate with our joint venture partners in this carbon capture and storage project where we can re-use existing infrastructure.”

Neptune’s L10-A, B, and E areas may potentially store 4-5 million tonnes of CO2 annually for industrial customers as part of this stage of the carbon capture and storage project. This is a first step in the potential development of the greater L10 area as a CO2 storage reservoir.