CGG: CGG’s Northern Viking Graben Seismic Data used by Northern Lights JV DA for CO2 Storage

Rhea-AI Summary

CGG has licensed its Northern Viking Graben multi-client seismic data to Northern Lights JV DA for CO₂ storage projects in the North Sea. This marks a significant step in the CO₂ storage market, as Northern Lights operates the first industry-scale CO₂ transport and storage initiative. CGG aims to expand its data library to assist in identifying and securing subsurface storage sites and monitoring solutions. The initiative supports the transition to net zero emissions in Europe.

Positive

• Successful licensing of seismic data to Northern Lights JV DA for CO2 storage.
• Expansion of CGG's multi-client data library will drive further opportunities.
• Aligns with growing market trends in CO2 storage and emissions reduction.

Negative

• None.

CGG’s Northern Viking Graben Seismic Data used by Northern Lights JV DA for CO₂ Storage

Paris, France – November 10, 2021

CGG has licensed its high-end Northern Viking Graben multi-client seismic data set in the Northern North Sea to Northern Lights JV DA, for use in its ongoing and future CO₂ storage developments. Northern Lights JV DA is the operator of the first industry-scale project for transport and storage of CO₂ on the Norwegian continental shelf.

Following this first data licensing success in the growing CO₂ storage market, CGG will continue to expand its multi-client data library to support initiatives by industry players to identify and de-risk subsurface storage sites and provide key information to estimate storage resources and help define efficient and safe monitoring solutions.

Northern Lights is developing the world’s first cross-border open-source CO₂ transport and storage infrastructure network to offer CO₂ storage as a service to customers across sectors in Europe to help the transition to net zero emissions. Its aim is to help industries mitigate emissions that cannot be avoided in other ways, and to provide safe and permanent storage of CO₂ under the seabed in Norway.

Dechun Lin, EVP, Multi-Client, CGG, said: “This is an excellent example of the geological insight our subsurface data and outstanding imaging technologies can bring to growing industries, such as CO₂ storage and geothermal energy, beyond our traditional markets. It also underlines the increasingly important role and added value that our geoscience data, technologies and expertise bring to our clients and society, in support of the energy transition to a low carbon future.”

About CGG

CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG 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

Attachment

• CGG - Press Release pdf version

FAQ

What is the recent development regarding CGG and Northern Lights JV DA?

CGG has licensed its Northern Viking Graben seismic data to Northern Lights JV DA for CO2 storage projects.

How does CGG's seismic data contribute to CO2 storage efforts?

The data helps identify and de-risk subsurface storage sites, providing key information for efficient monitoring solutions.

What impact does CGG's licensing deal have on the CO2 storage market?

It represents a significant step in the CO2 storage market, supporting the transition to net zero emissions in Europe.