Neptune Energy has announced plans to undertake a feasibility study into an offshore Carbon Capture and Storage (CCS) project in the Dutch North Sea.

The project is estimated to have the potential to safely store approximately 120 to 150 million tonnes of carbon dioxide.

The CCS project is expected to contribute to the Netherlands’ goal to reduce CO2 emissions by 49% to 55% by 2030.

The study is planned to assess the feasibility of injecting between 5 and 8 million tonnes of CO2 annually into the depleted gas fields around the Neptune-operated L10-A, L10-B and L10-E areas in the region.

Neptune will undertake the study in collaboration with its licence partners and CO2 emitters.

Energie Beheer Nederland (EBN) CEO Jan Willem van Hoogstraten said: “CCS is crucial for the Netherlands to achieve the Paris climate goals.

“We are already making great strides with the Porthos and Athos projects that want to store CO2 in empty gas fields off the coast of Rotterdam and IJmuiden respectively.

“This study by Neptune is another important step to convert the empty offshore gas fields into large-scale CO2 storage.

“Obviously, we are pleased to participate in projects of our joint venture partners that use existing infrastructure for the safe offshore storage of CO2.”

Neptune Energy said that the project is expected to be one of the largest CCS facilities in the Dutch North Sea if it is developed.

In addition, it is expected to meet more than 50% of the CO2 reduction which is being targeted by the Dutch industrial sector.

Previously, the company has completed a 14-year project on its K12-B platform offshore the Netherlands, reinjecting CO2 into the gas field. The project was conducted in partnership with TNO, the Netherlands Organisation for applied scientific research.

In October this year, Neptune Energy Norge made a small oil discovery in the production license 586 near the Fenja field in the Norwegian Sea.