LIME PETROLEUM AND PARTNERS AWARDED CO2 STORAGE LICENCE IN NORWEGIAN NORTH SEA

20 Jun 2024 14:49 CEST

Lime Petroleum AS (“Lime”), in partnership with OMV Norge AS and Vår Energi
ASA, has been awarded a CO2 storage licence in the North Sea by the Norwegian
Ministry of Energy today. The Iroko carbon storage licence, located in the North
Sea about 130 kilometres west of the coast from Haugesund, will be operated by
Vår Energi.

The Iroko area has the potential to store up to 7.5 million tonnes of CO2
annually for at least 30 years, a total of approximately 215 million tonnes.

Lars Hübert, Chief Executive Officer of Lime, said, “We have worked on this
project with our partners for some time now and are very pleased to be awarded
this CO2 storage licence, a first for Lime and an important milestone to us, as
it brings us a step closer to fulfilling our vision of a net zero future with an
abundance of energy.”

The licence partners of the Iroko carbon storage licence are: Vår Energi ASA
(40%), OMV Norge AS (30%) and Lime Petroleum AS (30%).

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