![CGG, Baker Hughes Sign MOU for CCS Projects](/sites/default/files/styles/hart_news_article_image_640/public/image/2024/05/cgg-baker-hughes-sign-mou-ccs-projects.jpg?itok=8mw_KY2o)
(Source: Shutterstock.com)
CGG and Baker Hughes have signed a memorandum of understanding at this year’s Offshore Technology Conference to explore jointly offered carbon capture and sequestration (CCS) solutions, the companies said in a May 8 press release.
The proposed commercial alliance will provide fully integrated end-to-end solutions to select and monitor carbon storage sites.
The companies plan to combine complimentary skillsets across the CCS value chain, said Ahmed Eldemerdash, vice president of oilfield services and equipment, in the press release.
The alliance taps into what Peter Whiting, executive vice president of geoscience for CGG, called a “high-growth market.”
“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,” Whiting said.
Recommended Reading
Enbridge Plans to Increase Permian Oil Pipeline’s Capacity
2024-05-10 - Midstream company Enbridge announced an open season on the Gray Oak Pipeline for a proposed 120,000 bbl/d expansion and updated its M&A efforts.
ONEOK Closes $280MM Deal for NGL Pipelines East of Houston
2024-06-17 - ONEOK Inc. plans to attach the network to its Mont Belvieu, Texas, facilities.
EIG Refinances $11B in Senior Debt for Aramco Pipeline Deal
2024-07-03 - EIG subsidiary Pearl Pipelines will use the proceeds to repay financing related to its $25.3 billion acquisition of 49% interest in Aramco Oil Pipelines Co. three years ago.
Targa Resources Ups Quarterly Dividend by 50% YoY
2024-04-12 - Targa Resource’s board of directors increased the first-quarter 2024 dividend by 50% compared to the same quarter a year ago.
Canada’s First FLNG Project Gets Underway
2024-04-12 - Black & Veatch and Samsung Heavy Industries have been given notice to proceed with a floating LNG facility near Kitimat, British Columbia, Canada.