Baker Hughes and Horisont Energi AS signed an MOU for the Polaris carbon storage project off the northern coast of Norway. Under the agreement, the two companies will explore the development and integration of technologies to minimize the carbon footprint, cost and delivery time of carbon capture, transport and storage (CCTS). This agreement further reinforces Baker Hughes’ and Horisont Energi’s own commitments to decarbonizing the energy industry.

Horisont Energi's Polaris offshore carbon storage facility is part of its “Barents Blue” project, which is the first global and full-scale carbon neutral blue ammonia production plant. The Polaris project is expected to have a total carbon storage capacity in excess of 100 MMt, which is equivalent to twice Norway’s annual greenhouse gas emissions. Currently at the concept phase, the facility is expected to enter the construction phase in the second half of 2022. As part of its overall goals, Polaris aims to have the lowest carbon storage cost globally, paving the way for profitable CCTS facilities that are not reliant on government support schemes.

In addition to collaborating for the Polaris offshore carbon storage facility, Baker Hughes and Horisont Energi will also work together to develop processes and technologies across the carbon capture value chain, including:

• Reduction of carbon footprint in the well construction and subsea segments
• High-efficiency turbomachinery technology including compressors and turbines for syngas, steam, CO₂ and air
• Low- to zero-emissions power and heat generation for clean ammonia plants
• Development of pre-front-end engineering and design (FEED) and FEED activities to prepare for project execution of offshore carbon storage assets
• Life-of-field service model for the life cycle of carbon storage projects, including site selection, drilling, and power to subsea infrastructure