PGS and deepC Store Limited (DCS) have entered into a Letter of Intent to co-develop a commercial scale carbon storage project offshore Australia.
Both parties have agreed to explore broader collaboration opportunities in the region, with PGS providing geological and geophysical advisory services.
“The letter of intent with DCS expands the PGS New Energy business beyond Europe. Stakeholders in the Asia Pacific region are increasing their focus on carbon capture and storage as a key contributor to their net-zero ambitions. Geophysical data and expertise are important tools to secure safe and reliable reservoirs for carbon storage,” said Berit Osnes, EVP New Energy of PGS.
“We will collaborate with PGS to co-build a leading Carbon Capture and Storage (CCS) development and operation business in the Asia Pacific region. In that context, we look forward to seeking PGS’s expertise and securing reliable CO₂ storage sites in Australia,” said Daein Cha, Managing Director and CEO of DCS.
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