Project


October 2024

Updated CAPEX and OPEX Estimates to Norway Carbon Storage Project

Project Phases

  • Identify
  • Evaluate

Technology Areas

  • CCUS

Service Areas

  • Concept & Project Development
  • Technical Solutions

Project Location

  • Norway

CAPEX and OPEX case estimates levelised cost of CO2 transport and storage (LCOTS) model for Norway Carbon Storage Project

Motivation: 

Goal7's client, an established E&P company in Norway, aims to develop a portfolio of carbon stores as part of its commitment to achieve net-zero. Goal7 supported in developing an update to CAPEX and OPEX case estimates for their LCOTS model for a carbon storage site in the Norwegian Continental Shelf (NCS). Goal7 had previously supported preparations for submission of a Licence Nomination, including development concepts and provision of economic inputs. 

Our Approach: 

Following on from the original work performed in 2022, Goal7 worked collaboratively in developing CAPEX and OPEX case estimates for the original scenarios but for a lower annual injection volume. Four different development scenarios were considered, including shipping directly to the store and to a terminal before injection. Careful consideration was taken in order for these cases to remain comparable to the original work. 

Delivering this project involved collaboration and combined effort across borders, where Goal7 successfully integrated and worked alongside the client team. The output of this project resulted in the client gaining further insights of impact of lower injection volumes. 

Benefit and Impact: Goal7 implemented learnings from the previous work and research into the CCS value chain, including a review of transport solutions with the selection criteria factoring in CO2 volume, location, storage capacity, lifespan, distance, and technology, amongst others. Goal7 developed updated CAPEX and OPEX cost inputs, taking into account recent updates on all material costs associated within this project's boundary in the CCS value chain

  • Update of CAPEX and OPEX cost estimates for four development scenarios of the full CCS value chain
  • Maturation of the NCS CCS project
  • Understanding of the techno-economic impact of storage a reduced annual throughput of CO2 in the NCS