France-based geoscience technology services company CGG and U.S. energy technology company Baker Hughes have signed a memorandum of understanding (MoU) to jointly explore carbon capture and storage (CCS) solutions.
CGG said that the collaboration and proposed commercial alliance intends to support the rapid increase of CCS projects by providing high-quality and fully integrated end-to-end solutions to screen, select, characterize and monitor potential carbon storage sites worldwide.
According to Ahmed Eldemerdash , Vice President of Oilfield Services and Equipment, New Energies at Baker Hughes, the combination of the companies’ subsurface and surface capabilities will provide CCS customers “an unmatched support” to de-risk technical and economic challenges from strategy to CO2 storage site construction, and lifetime monitoring, bringing to bear fully complimentary skillsets throughout the CCS value chain.
“ CGG shares a strong commitment with Baker Hughes to actively support low-carbon markets with new technologies and business capabilities in carbon capture and storage. CCS is a high-growth market that is expected to play an important role in dealing with CO 2 emissions,” said Peter Whiting , EVP of Geoscience at CGG.
“By combining the considerable expertise and complementary technologies of the two companies in the CCS arena, operators will benefit from more efficient and cost-effective solutions from two trusted market leaders. ”
CGG also earlier this year signed a commercial cooperation agreement with Dutch C-Questra for carbon capture, utilization, and sequestration (CCUS).