Iroko

In June 2024, the Norwegian Ministry of Energy awarded a CO₂ storage exploration license named Iroko, located about 130 kilometers west of Haugesund in the North Sea. The license is held by a consortium of Vår Energi (operator, 40%), OMV Norge (30%), and Lime Petroleum (30%). The site has the potential to store up to 7.5 million tonnes of CO₂ per year for at least 30 years, totaling approximately 215 million tonnes of capacity As of July 2026, the lease is inactive and the project is deemed cancelled.