Partnership between Kimmeridge Carbon Solutions and Storegga will focus on CCUS development
Kimmeridge Carbon Solutions (Kimmeridge) and Storegga recently announced that they have formed a partnership with the aim of creating large-scale CCUS projects, in order to reduce carbon emissions.
To achieve their aim, the two companies will work on identifying, developing and deploying large-scale CCUS projects and will do this by utilising skills and expertise from both companies.
Whilst focusing on projects in Wyoming, which is a state with Class VI primacy and subsurface geology, which is suitable for CCUS project developments, both companies will harness their skills to optimize the progression of these projects. Furthermore, the development of these projects is occurring at a time when multiple industries who are producing a lot of emissions, are looking for decarbonization solutions.
Kimmeridge will use their onshore experience, geotechnical expertise and industry relationships, whilst Storegga will use their expertise in carbon value chains and their knowledge of development and commissioning of Co2 transportation and storage infrastructure. Together the companies will also explore opportunities close to locations where active Kimmeridge hydrocarbon projects are based.
The partnership has taken the first step within their project and the companies have started to engage in discussions with landowners and emitters of projects they have deemed suitable for development.
The Managing Partner at Kimmeridge, Henry Makansi, commented, "CCUS will be a critical tool in reducing carbon emissions, particularly in difficult-to-abate sectors. With our subsurface expertise and research capabilities, we are increasingly focused on deploying this technology to meet the demands of net-zero goals. We are delighted to be working with Storegga to study opportunities and accelerate the development of successful and value-creating projects in the US."