SANDNES, Norway - 30 August 2022 - Horisont Energi (EURONEXT: HRGI) and Neptune
Energy today announced the signing of a Memorandum of Understanding (MoU) to
develop the Errai Carbon Capture and Storage (CCS) project in Norway. 

Errai could store 4-8 million tonnes of CO2 annually, with the potential to
store more in later phases. The project includes an onshore terminal for
intermediate CO2 storage, with the intention to permanently store the CO2 in an
offshore reservoir. 

The onshore terminal would be capable of receiving CO2 from European and
domestic customers, including from the planned CO2 terminal at the Port of
Rotterdam. Several onshore locations in Southern Norway are being evaluated for
the terminal. 

Neptune Energy brings subsurface expertise and extensive carbon capturing and
storage experience to the project, having reinjected CO2 in the K12-B gas field
in the Dutch North Sea for the last 14 years, as well as being a partner in the
Norwegian Snøhvit field, which has been reinjecting CO2 since 2008.

Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi, said: «We are delighted
that Neptune Energy chose to work with us on this large-scale industrial CCS
project. There is a growing demand for CO2 storage in the market. We believe
that this project and our other CCS activities are essential for the net zero
transition. » 

Neptune Energy's Managing Director for Norway and the UK, Odin Estensen, said:
"Sharing the vision of carbon neutrality, Neptune is excited to partner up with
Horisont Energi.  We look forward to leveraging both our oil and gas operations
capabilities as well as our significant experience of operating carbon capture
and storage activities. 

"Errai complements Neptune's strategy to store more carbon than is emitted from
our operations and from the use of our sold products by 2030."

CCS developments are crucial for accelerating the transition to a lower carbon
future, and the Errai project can play an important role in this important
phase.

The Errai project was initiated by Horisont Energi in 2021.


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About Horisont Energi 
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that
provides clean energy and carbon transport and storage services. The company
will transform natural and renewable gases, water and renewable energy into
cost-leading clean ammonia and hydrogen and offer CO2 transportation and storage
services using proprietary technology, paving the way for a low carbon economy.
The company was founded in 2019 and is headquartered in Sandnes, Norway.
www.horisontenergi.no

About Neptune Energy 
Neptune Energy Norge is an independent global E&P company with operations across
Europe, North Africa, and Asia Pacific. The business had production of 130,000
net barrels of oil equivalent per day in 2021 and 2P reserves on 31st December
2021 of 604 million barrels of oil equivalent. Neptune aims to store more carbon
than is emitted from its operations and the use of its sold products by 2030.
The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by
Carlyle Group and CVC Capital Partners. 
More information: www.neptuneenergy.com

For further information, please contact:

Horisont Energi
Bjørgulf Haukelidsæter Eidesen
+47 990 36 892
bhe@horisontenergi.com

Siri Melberg
+47 470 35 718
sm@horisontenergi.com 

Neptune Energy Norge
Liv Jannie Omdal
+47 97 66 71 37
liv.jannie.omdal@neptuneenergy.com