Licence wins boost ExxonMobil's UK lower-emissions plans

The awards are the next step in the progress we’re making to advance our Low Carbon Solutions business and help the UK achieve its net-zero ambitions with carbon capture and storage (CCS). We are investing $17 billion in lower emission initiatives across our organization, and these awards are another example of how we’re making real progress on that commitment.

“These awards will allow us to leverage our unique CCS, subsurface and project management expertise to help the UK achieve its net-zero ambitions,” said Michael Foley, ExxonMobil’s UK Low Carbon Solutions business lead. “In addition to our activities in the Scottish and Solent Clusters, we’re proud to now be involved in these North Sea licences to help move offshore carbon storage from potential to reality.”

The licences are in areas of the UK North Sea we know and understand well, where Esso Exploration and Production UK Limited has developed oil and gas resources for decades. If the assessments prove successful, we will apply to the UK government for permission to develop and operate the carbon storage projects, which would support the UK’s ambition to store more than 50 million tonnes of carbon annually by 2050.

The four licences awarded to ExxonMobil are listed below. Shell will join us in assessing three of the licences, and Neptune Energy will partner with us in the fourth.