Calgary, Canada (02 March 2020) – TGS, a leading provider of multi-client geoscience data for exploration & production (E&P) companies, today announced the completion of a Geological Carbon Storage Atlas for British Columbia, Canada for a major oil and gas company.
The objective of the study was to provide the most up-to-date understanding of geological carbon storage locations, onshore and offshore, throughout the province of British Columbia. Through collaboration with its partner Canadian Discovery Limited (CDL), TGS leveraged its world-class basin evaluation expertise, subsurface data library, and geological knowledge and experience through working in British Columbia, to create a framework for carbon storage assessment and atlas for potential storage locations.
Katja Akentieva, EVP of Onshore & Well Data at TGS, said, “TGS has a goal to contribute to a more sustainable energy future. This project is a great example of how TGS data and insight enabled its customers to evaluate carbon storage opportunities which ultimately leads to reduction of greenhouse gas emissions. I am pleased to see how TGS is able to apply its ESG strategy in a practical setting.”
TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.