Paris, France – May 8, 2024
CGG has signed a Memorandum of Understanding with Baker Hughes, an energy technology company, at the 2024 Offshore Technology Conference (OTC) in Houston to facilitate the parties exploring jointly offered carbon capture & 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.
Peter Whiting, EVP, Geoscience, CGG, said: “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.”
“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”, said Ahmed Eldemerdash, Vice President of Oilfield Services and Equipment, New Energies at Baker Hughes. “This alliance brings to bear fully complimentary skillsets throughout the CCS value chain.”
About CGG
CGG (www.cgg.com) is a global technology and HPC leader that provides data, products, services and solutions in Earth science, data science, sensing and monitoring. Our unique portfolio supports our clients in efficiently and responsibly solving complex digital, energy transition, natural resource, environmental, and infrastructure challenges for a more sustainable future. CGG employs around 3,400 people worldwide and is listed on the Euronext Paris SA (ISIN: 0013181864).
Contacts
Group Communications & Investor Relations
Christophe Barnini
Tel: + 33 1 64 47 38 11
E-Mail: christophe.barnini@cgg.com
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CGG Announces Alliance with Baker Hughes Offering Carbon Capture & Storage