UK-based operator Perenco, in collaboration with partner Carbon Catalyst Ltd, is set to advance the Poseidon carbon capture and storage (CCS) project, centered on the Leman gas fields located in the North Sea. This development comes after the partners secured a license through the inaugural competitive carbon storage license round conducted by the North Sea Transition Authority.

Leman, situated in the Southern North Sea sector of the UK Continental Shelf, is notable for its significant geological structure and the presence of depleted gas reservoirs and saline aquifers suitable for the permanent storage of recovered carbon dioxide.

Perenco, recognized for its management of mature fields and a gross daily oil and gas production of approximately 500,000 barrels, has received the CCS license, marking the initiation of a new strategic division within the company.

The gas fields are interconnected with the Bacton Terminal via pipelines, which will facilitate the receipt and processing of carbon dioxide sourced from various onshore origins. The captured carbon dioxide will then be transported offshore for injection into reservoir rocks to achieve permanent storage.

Termed the Poseidon project, this endeavor has the potential to significantly contribute to the decarbonization efforts in East Anglia, Greater London, and the Southeast of England. Its operational timeline is set for initiation by 2029. The initial injection rate for carbon dioxide will be approximately 1.5 million tonnes per annum, with projections to escalate to about 10 million tonnes by 2030 and reaching a peak of 40 million tonnes by 2040.

The project will immediately proceed to conduct further in-depth assessments of storage sites and commence operational planning in collaboration with Perenco's midstream and upstream partners. This collaborative effort aims to ensure that the selected concept is delivered on schedule and within budget.

Jonathan White, General Manager for Perenco UK, expressed enthusiasm about the endeavor, stating, "This is a fantastic opportunity to leverage Perenco's deep experience of gas operations by developing a project that will help to support the UK’s energy transition, generate highly skilled jobs locally and nationally, and actively facilitate the government’s net zero targets." The Poseidon project follows Perenco's broader Southern Hub Asset Rationalisation Project (SHARP), which aimed to extend the lifespan of Southern North Sea gas developments by merging the Leman and Inde fields into a streamlined production hub.