CGG and PGS have signed a Memorandum of Understanding (MoU) with a view to combine their seismic multiclient products and technical capabilities applied to the CCUS industry. The goal is to join forces and unlock the value of existing seismic data for carbon storage evaluation. Together, the companies intend to explore, conceptualize and create new derivative data products using existing seismic data to facilitate screening and evaluation of carbon storage sites.
Dechun Lin, executive vice president of multiclient with CGG, said: “CGG is actively committed to the climate and environment and constantly seeking ways to leverage its vast Earth library, technology and expertise. This MoU with PGS is consistent with our strategy to advance our data and geoscience offering to support the energy transition through accelerating the development and commercialization of CCUS, hydrogen and ammonia storage, and geothermal energy."
He continued, "The initiative will benefit from the experience of both companies at delivering large-scale high-end seismic products. It will also capitalize on CGG’s fifteen years of experience in CCUS projects and the expertise of our CCS and energy storage group, across storage evaluation, reservoir characterization, engineering, instrumentation and monitoring. We look forward to developing with PGS the next generation of multiclient data tailored to the needs of the CCUS industry.”
“PGS recognizes the importance and potential of CCUS to mitigate climate change, and we are committed to contribute to this activity," said Berit Osnes, executive vice president of PGS New 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."
Oil firms Equinor and Rosneft expect to extract some 250 million barrels of oil and 23 billion cubic meters of gas during the first part of the development of the Severo-Komsomolskoye oilfield in Russia, Equinor said on Dec. 23.
Repsol will still hold a 51% stake in the block after the deal.
The latest discovery was made by the Mako-1 well drilled about 10 km southeast of the Liza Field.