The project is a result of a study done in 2004 and 2005 which indicated a significant potential for cost reductions applying new technological solutions. The study showed a reduction of 50 percent on investments and 30 percent on operating costs compared to a reference facility developed by the international joint industry project, Carbon Capture Project. The reductions are results of fewer, but larger components, modern absorption chemicals and innovative design of the facility.

Ten partners from the energy industry have joined Aker Kvaerner in Just Catch(TM). The main goal is to further develop the findings from the study to a viable solution, reducing both technical and economic risks. There will be extensive pilot testing in the project. The project will run for two years and form the basis for a final investment decision. The technology may also be applied for coal fired power plants and other industrial CO2 sources.

Aker Kvaerner will involve several other suppliers and research institutes in the work. The total investments in the project are NOK 32 million, funded by Gassnova and the partners. Gassnova, which is a Norwegian governmental organization to promote technology development for carbon emission abatement, will cover up to 50 percent of the investments.

Additional information:

The partners are key Norwegian and international companies within the energy sector. They represent some of the most likely developers of gas power plants in Norway and potential users of CO2 for increased oil recovery (IOR).

Gassco

Fortum

Hydro

Lyse

Petoro

Shell Technology Norway

Skagerak Kraft

Statkraft

Statoil

Østfold Energi

ENDS

 

Media:
Stein Inge Liasjø, VP Communications, Aker Kvaerner. Tel: +47 464 02 353

 

AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities. The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 35.6 billion and employs approximately 22,000 people in more than 30 countries.

This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com