PGS and CGG enter CO2 storage partnership
PGS and CGG have signed a Memorandum of Understanding (MoU) to combine their seismic multi-client products and technical capabilities applied to the carbon capture utilization and storage (CCUS) sector.
The seismic players stated they want to join forces and unlock the value of existing seismic data for carbon storage evaluation.
Together they intend to explore, conceptualize and create new derivative data products using existing seismic data to facilitate screening and evaluation of carbon storage sites.
“CGG is actively committed to the climate and environment and constantly seeking ways to leverage its vast Earth library, technology and expertise,“ said Dechun Lin, CGG’s executive vice president for Multi-Client. “The initiative will benefit from the experience of both companies at delivering large-scale high-end seismic products.”
According to Lin, the MoU is consistent with the company’s strategy to advance its data and geoscience offering to support the energy transition through accelerating the development and commercialization of CCUS, hydrogen and ammonia storage, and geothermal energy.
“Our comprehensive worldwide MultiClient data library and geophysical competence will be valuable resources in addition to our acquisition services for optimal CCUS site derisking. By joining forces with CGG we can offer unmatched data coverage and unique services to help operators significantly accelerate their activities,” said Berit Osnes, executive vice president at PGS New Energy.
“PGS looks forward to work closely with CGG to offer modern, high quality data products to support the identification and classification of CO2 storage reservoirs.”