PGS has won a seismic acquisition contract for CO₂ storage offshore Norway by Equinor on behalf of Northern Lights JV DA.
Acquisition is scheduled to start in the second quarter of this year and has a duration of approximately one month.
“Northern Lights is one of the pioneering CO₂ transport and storage companies in Europe and we are proud to contribute with our technology to their ground-breaking efforts,” said PGS President and CEO, Rune Olav Pedersen.
“We established our New Energy business area early 2021 and made MultiClient data sales during the year for development of CO₂ storage projects. I am very pleased to see that we now are taking another step in being awarded this data acquisition contract for Northern Lights.”
In other news, PGS was also awarded a carbon capture and storage 3D seismic acquisition contract by BP over the Endurance reservoir, located about 145km off the coast from Teesside and around 85km from the Humber coast. Seismic acquisition is scheduled to start during April and to be completed in June.
“PGS has a history of pioneering the marine 3D seismic market and the Endurance survey is one of the industry’s first publicised awards of a 3D acquisition contract in North Sea specifically designed to address CCS project development challenge. In the second half of 2021 we announced a sale of MultiClient data for CCS purposes and now we are very pleased to announce the award of an acquisition contract. This further strengthens our leading market position and is an important step in expanding our contribution to net-zero transition,” Olav Pedersen said.
“Numerous research reports estimate a significant need for CCS storage going forward. Even in the more conservative projections, seismic acquisition for CCS purposes is likely to constitute a significant new market for our industry.”
