Yinson Production has successfully completed the acquisition
of 100% of the shares in Stella Maris CCS AS ("Stella Maris") from Altera Infrastructure.
Stella Maris is a Norway-based carbon capture and storage (“CCS”) company developing a full
CCS value chain, including carbon capture, intermediate storage, offshore transportation, and
permanent sequestration of CO2 captured from industrial sources. Stella Maris holds a 40%
stake in the Havstjerne Reservoir on the Norwegian Continental Shelf. Developed in
partnership with Harbour Energy, the Havstjerne CO2 injection and storage project is a
cornerstone of Stella Maris’ activities, with its technical feasibility validated by extensive
seismic data and reservoir studies.
The European Union’s Innovation Fund has selected the Havstjerne CO2 injection and storage
project for a grant of up to EUR 225 million, payable against expenditures upon certain
investment and commercial operation milestones. This represents the largest European
Union grant for a CCS project and underscores the significance of the initiative in advancing
Europe’s decarbonisation efforts.
The acquisition of Stella Maris expands our presence in the emerging low carbon market and
marks a significant milestone in our decarbonisation strategy, reinforcing our commitment to
supporting the global energy transition.
Lars Gunnar Vogt, Chief Technical Officer of Yinson Production, said, “This successful
acquisition reinforces Yinson Production’s commitment to driving innovation and
sustainability within the energy sector and our role in shaping Europe’s decarbonisation
efforts. The acquisition of Stella Maris is a logical step in expanding our portfolio of strategic
investments within the carbon capture space, and we are excited to integrate these solutions
to help industrial emitters in achieving their decarbonisation targets.”