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Russian Rosneft, Norwegian Equinor agree on cooperation in carbon management

 Rosneft and Norway’s energy company Equinor have signed a cooperation agreement on carbon management, which confirms their commitment for joint development, testing and implementation of cutting-edge technology solutions on carbon management, the Russian oil producer said in a statement on Wednesday.

It is suggested that the two companies will assess their joint projects for the potential of using technologies and equipment for detection, measurement and reduction of greenhouse gas emissions, primarily, of methane emissions. They will also strive to achieve zero routine flaring of associated petroleum gas by 2030.

"Rosneft and Equinor will look into the prospects for implementation of new projects envisaging the use of alternative energy sources, including wind energy, application of CO2 capture and storage technologies, and development of hydrogen business ("blue" and "green" hydrogen)," the Russian company said.

The cooperation between Rosneft and Equinor started in 2012 as the companies signed a strategic cooperation agreement. In 2017, under this agreement the companies set up a joint venture - OOO SevKomNeftegaz, which operates the development of the Severo-Komsomolskoe field. Since December 2020, Rosneft and Equinor have been partners in OOO Angaraneft, in which the Norwegian company owns 49%. Angaraneft holds the license for the Danilovsky License Area, within which the Severo-Danilovskoe field is located.

[Source: Tass, Moscow, 29Sep21]

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