CGG has signed a Memorandum of Understanding (MoU) to combine their respective capabilities in support of energy transition customers and, more specifically, add value to the development, operation, and monitoring of carbon sequestration sites in North America.
CGG said it can draw on its subsurface imaging leadership, proven geoscience expertise, high-tech Sercel solutions for acquiring subsurface information, and more than 15 years of experience supporting high-profile carbon sequestration projects globally in areas such as storage site characterization, selection of optimal geophysical technologies for monitoring, and operational monitoring best practices, to optimize the design, development and operation of carbon sequestration sites.
Paragon has thirty years of experience in geophysical data acquisition and project execution for oil & gas and carbon capture storage applications, including, more recently, participation in the world’s largest carbon capture and storage project under development in the Midwestern United States. Its crews are equipped with the very latest Sercel technology to deliver the highest-resolution, most accurate geophysical data available in the industry.
Together, the two companies will support key forward-thinking energy transition customers in North America to explore, develop and execute technically demanding carbon sequestration projects in order to efficiently and effectively operate storage sites and optimize operational monitoring of the CO2 in the subsurface.
Peter Whiting, EVP, Geoscience, CGG, said: “Our collaboration with Paragon, to support the development of subsurface carbon sequestration assets in North America with our innovative technologies, reflects CGG’s ongoing commitment to provide essential services for the energy transition. With our combined strengths in this key area for achieving net-zero targets, we will provide clients with critical insight, enabling them to optimize their storage and monitoring plans, reduce costs and have greater confidence in site conformance for improved operations and public acceptance.”
Aaron Bateman, President of Operations, Paragon, said: “We are delighted to combine our capabilities with CGG, with whom we share the same spirit of technological innovation and dedication to customer service, to address this growing market and societal demand for energy transition solutions. We see significant opportunity to add substantial value to our customers through enhanced integration of data acquisition and subsurface imaging to facilitate cost-effective carbon sequestration project development and operational monitoring.”
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26/07/2021
