(Core Laboratories, 17.Mar.2022) — Core Laboratories N.V. (NYSE: “CLB US” and Euronext Amsterdam: “CLB NA”) and Talos Energy Inc. (NYSE: “TALO”) have announced a strategic alliance to provide technical evaluation and assurance for carbon capture and sequestration (“CCS”) opportunities. The alliance combines Core Lab’s market-leading reservoir description and optimization technologies with Talos’s expertise in subsurface characterization and engineering.
Under this alliance, Core Lab and Talos will collaborate to evaluate potential CCS sites for suitability and optimal subsurface stratigraphic targets through robust reservoir characterization techniques, including: stratigraphic test wells, reservoir core sampling and geological evaluation, as well as analysis of rock and fluid sample properties. These technical data sets will be used to deliver best-in-class sequestration assurance through custom subsurface evaluation and monitoring plans. The alliance also provides a framework for the two companies to further explore opportunities to collaborate on delivering technical assurance around transparency in monitoring and verification of CO2 streams.
In addition to the alliance, Talos is participating as a member in Core Lab’s recently inaugurated joint-industry CCS consortium. The consortium will enhance the nascent CCS industry’s knowledge of the geotechnical challenges and risks associated with subsurface storage of CO2, with a focus on considerations relating to reservoir capacity, injectivity and containment integrity.
Core Laboratories’ CEO, Larry Bruno, commented, “We are excited to collaborate with Talos to deliver CCS solutions aimed at reducing industrial carbon emissions. This alliance, built on complementary technical strengths in subsurface characterization and reservoir optimization, will enhance the speed at which scalable, reliable and safe carbon sequestration solutions can be delivered to the market. We are excited about the positive impact this work will ultimately have on climate initiatives.”
Talos’ Executive Vice President Low Carbon Strategy and Chief Sustainability Officer, Robin Fielder, commented, “We are pleased to announce this strategic alliance with Core Laboratories to collaborate on delivering technical assurance for our sequestration sites and, ultimately, for our customers. Capitalizing on our respective subsurface expertise, this alliance further advances Talos’s ability to deliver high-quality, end-to-end CCS solutions to potential customers across the Gulf Coast.”
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