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Asker, Norway (5 December 2019) – TGS today announced that it has 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 UK Government on a supportive policy framework to enable the UK to become a leader and exporter of CCUS technologies globally.
Colin McGill, Net Zero Teesside Project Director, said, “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.”
Fredrik Amundsen, Executive Vice President, Europe and Russia at TGS, said, “The use of seismic data from TGS in the development of this landmark UK CCUS project is an important initiative for us as it marks the start of what could become a growing business area in the coming years. We recognize the need to actively engage in projects that support the energy transition and working with Net Zero Teesside is a recognition that our data can and will be used in new ways in the future.”
TGS-NOPEC Geophysical Company (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.
For more information visit TGS online at www.tgs.com.
About Net Zero Teesside
Net Zero Teesside is a Carbon Capture, Utilization and Storage (CCUS) project, based in Teesside in the North East of England. In partnership with local industry and with committed, world class partners, it aims to decarbonize a cluster of carbon-intensive businesses by as early as 2030. Each year, the Project plans to capture up to six million tonnes of carbon dioxide emissions equivalent to the annual energy use of up to two million homes in the UK.
For more information, please visit: https://www.netzeroteesside.co.uk/
About OGCI Climate Investments
OGCI Climate Investments LLP is a $1+ billion fund investing in technologies and business models which lower the carbon footprint of the energy and industrial sectors and their value chains. The Fund was created by the CEOs of the Oil and Gas Climate Initiative to take practical action on climate change. We invest in innovative companies that are ready to be commercialized. We collaborate with global co-investors and industrials to achieve speed and scale.
For more information, please visit: www.oilandgasclimateinitiative.com
For additional information about this media release, please contact:
Jaclyn Townsend, Director, Brand Marketing, TGS, Tel: +1 832-667-4757, Email: firstname.lastname@example.org
David Atkinson, Net Zero Teesside, Email: DavidJames.Atkinson@bp.com