On behalf of a major oil and gas operator, Westwood provided a comprehensive review of the UK’s first carbon storage licensing round.
The Client requested a comprehensive subsurface and commercial assessment of the UK’s first carbon storage licensing round, including a potential bidder review. Project specifics included:
- A detailed review of the application process and bidding criteria
- Measurement and monitoring considerations
- A comprehensive review of subsurface characteristics of saline aquifer and depleted field targets in areas offered in the round
- A review of spatial overlaps between oil and gas operations, wind farms, carbon storage licences and carbon storage areas offered in the round
- An analysis of prospective bidders, core area analysis and their business rationale, including site specific motivations
Westwood leveraged its deep knowledge of Northwest Europe, in particular the world-class data and analyst expertise from its proprietary E&P solution, Atlas. We conducted a deep dive analysis and spatial review of the areas offered, including:
- Proximity to onshore emissions centres
- Potential storage target review (saline aquifer and depleted fields)
- Storage target detailed geological properties addressing containment, injectivity and capacity
- Spatial analyses on fields, licences, infrastructure, wind farms and targets
- Developed customised maps facilitating a detailed spatial overview of the UKCS
To complement our assessment, Westwood used its extensive network across Northwest Europe, reaching out to several players to understand appetite in the licence round.
Westwood’s analytical and quantitative approach facilitated a detailed Client understanding of the range and types of UKCS storage targets, their proximity to existing infrastructure, their suitability for storage, spatial overlaps, the commercial rationale for prospective bidders, potential partners for future projects and the commercial rationale for site specific bids and projects. Our highly experienced geoscientists utilised their extensive geotechnical knowledge of Northwest Europe to provide a comprehensive subsurface review of the areas on offer.