The report was produced for the Energy Technologies Institute (ETI) by a consortium led by Aberdeen-based consultancy Pale Blue Dot Energy working with Axis Well Technology and Costain.
It follows a 12 month project commissioned and delivered by the ETI, with funding from the Department of Energy and Climate Change.
The report also found the potential that the sites in the North Sea could be developed to offer a CO2 storage hub for CO2 emissions from Europe, improving their economic attractiveness.
According to the report, the UK Continental Shelf can offer a vast national offshore CO2 storage resource, which can be made readily available without having to carry out appraisal programs due to oil and gas exploration and development activity.
The five sites studied in detail are suitable to store CO2 emissions from both power and industry projects across the UK.
Only two of the five sites would require additional appraisal drilling prior to an investment decision.
ETI CCS programme manager Andrew Green said: "The results from this project have confirmed the understanding that there are no major technical hurdles to moving industrial scale CO2 storage forward in the UK.
"Indeed the UK could form the basis of a storage resource that could service the needs of many parts of Europe in addition to its own needs."
"The five sites featured in the study, along with three others developed previously, could collectively store over 1.5GT of CO2, and could be fully operational as early as 2030 which would be enough to service a significant roll out of commercial projects, including up to 10GW of power generation and major industrial sources fitted with CCS, as highlighted in earlier ETI analysis."
