TGS on Dec. 5 completed the sale of one of its seismic datasets to OGCI Climate Investments’ Net Zero Teesside project, a carbon capture, utilization and storage (CCUS) initiative planned for the North East of England. The data is to be used to verify the suitability for storage of CO2 in offshore reservoirs located in the Permian Gas Basin in the Southern North Sea.
Net Zero Teesside is an integrated CCUS project backed by OGCI Climate Investments, with direct project support from six of the largest oil and gas companies globally: BP, ENI, Equinor, Occidental Petroleum, Shell and Total. OGCI Climate Investments and its partners are working closely with the U.K. Government on a supportive policy framework to enable the U.K. to become a leader and exporter of CCUS technologies globally.
“To be able to remove carbon dioxide emissions and store them deep underground–preventing them from being released into the atmosphere–means we need to be 100 percent sure that the reservoir chosen is fit-for-purpose. Our agreement with TGS allows us to carefully analyze the geology of the reservoirs and make the correct decisions that will sustain our CCUS operations for millennia to come,” Colin McGill, Net Zero Teesside project director, said.
The March 20 lease sale in the U.S. Gulf of Mexico brought in $244.3 million in high bids.
The latest discovery was made by the Mako-1 well drilled about 10 km southeast of the Liza Field.
Equinor and partners are investing more than $7 billion in the development east of the Shetland Islands in the U.K. North Sea.