French marine seismic firm CGG has signed a memorandum of understanding (MoU) with U.S. energy services giant Baker Hughes to facilitate the parties exploring jointly offered carbon capture and storage (CCS) solutions.
The collaboration and proposed commercial alliance intends to support the rapid increase of CCS projects that is underway by providing high-quality and fully integrated end-to-end solutions to screen, select, characterize and monitor potential carbon storage sites worldwide.
“CGG shares a strong commitment with Baker Hughes to actively support low-carbon markets with new technologies and business capabilities in carbon capture and storage. CCS is a high-growth market that is expected to play an important role in dealing with CO2 emissions.
“By combining the considerable expertise and complementary technologies of the two companies in the CCS arena, operators will benefit from more efficient and cost-effective solutions from two trusted market leaders,” said Peter Whiting, EVP, Geoscience, CGG.
“The combination of Baker Hughes and CGG subsurface and surface capabilities will provide our customers in CCS an unmatched support to de-risk technical and economic challenges from strategy to CO2 storage site construction, and lifetime monitoring,” added Ahmed Eldemerdash, Vice President of Oilfield Services and Equipment, New Energies at Baker Hughes.