Viridien releases latest phase of Gulf of Mexico Carbon Storage Study to support upcoming lease rounds
Rhea-AI Summary
Viridien has released phase 2 of its GeoVerse™ Carbon Storage Screening Study of the Gulf of Mexico, following the successful delivery of phase 1 last year. This comprehensive study complements Viridien's multi-client seismic data, providing extensive subsurface data coverage over the US Gulf of Mexico shallow waters and coastal areas. The timely release aims to accelerate the screening process for identifying high-potential areas in upcoming carbon sequestration lease offerings by the Texas General Land Office and School Land Board.
The full product offers an integrated package of interactive ArcGIS-compatible screening maps, digitized well data, and merged legacy seismic data across the Gulf of Mexico basin's shallow water shelf. This region contains several large-scale aquifer stores throughout the stratigraphic section, making it a key area of interest for the CCUS industry.
Positive
- Release of comprehensive carbon storage screening study for Gulf of Mexico
- Timely delivery to support upcoming carbon sequestration lease rounds
- Integrated package of interactive maps, well data, and seismic data
- Potential to accelerate identification of high-potential carbon storage areas
Negative
- None.
Insights
Viridien's release of phase 2 of its GeoVerse™ Carbon Storage Screening Study for the Gulf of Mexico is a strategic move in the evolving Carbon Capture, Utilization and Storage (CCUS) market. This study's timing aligns with upcoming carbon sequestration lease rounds, potentially giving Viridien a competitive edge in data provision.
The comprehensive nature of the study, combining seismic data, screening maps and digitized well data, positions Viridien as a key player in the CCUS data market. This could lead to increased revenue streams from licensing agreements with operators looking to enter the Gulf of Mexico carbon storage space.
However, the long-term financial impact remains uncertain, as it depends on the adoption rate of CCUS technologies and the success of carbon storage projects in the region. Investors should monitor industry trends and regulatory developments to gauge the potential return on Viridien's investment in this study.
The release of Viridien's Carbon Storage Screening Study is a significant development for the CCUS industry in the Gulf of Mexico. This comprehensive data package could accelerate the implementation of carbon storage projects, aligning with global efforts to reduce greenhouse gas emissions.
The study's timing is crucial, coinciding with upcoming lease rounds by the Texas General Land Office. This could expedite the selection process for high-potential storage sites, potentially leading to faster project approvals and implementations.
However, the success of CCUS projects hinges on various factors beyond data availability, including regulatory frameworks, economic incentives and public acceptance. Investors should consider these broader contextual factors when evaluating the long-term impact of Viridien's study on the CCUS landscape in the Gulf of Mexico region.
Viridien releases latest phase of Gulf of Mexico Carbon Storage Study to support upcoming lease rounds
Paris, France – August 28, 2024
Viridien has released phase 2 of its GeoVerse™ Carbon Storage Screening Study of the Gulf of Mexico after the successful delivery of phase 1 last year. The final product complements Viridien’s multi-client seismic data to provide comprehensive subsurface data coverage over the US Gulf of Mexico shallow waters and coastal areas. Its timely delivery will accelerate the screening process to identify the high-potential areas on offer in the upcoming Texas General Land Office and School Land Board Request for Proposals for several carbon sequestration leases.
Both phases of the screening study are available for licensing now. The full product provides a unique integrated package of interactive ArcGIS-compatible screening maps, digitized well data and merged legacy seismic data across the attractive shallow water shelf of the Gulf of Mexico basin where several large-scale aquifer stores are available throughout the stratigraphic section.
Dechun Lin, EVP, Earth Data, Viridien, said: “This new Gulf of Mexico study is located over a key area of interest for the CCUS industry with a number of licenses already offered for carbon storage and more licensing rounds to come. With our growing footprint of screening studies in the world’s most promising regions, we are helping to address the global industry challenge of accelerating CCUS with our subsurface data, data science and geoscience expertise. Viridien is committed to helping operators to identify the areas with the most potential by providing a robust and globally consistent approach to carbon storage screening.”
Request a brochure about Viridien’s Gulf of Mexico Carbon Storage Study here.
About Viridien:
Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).
Contacts
| Investor Relations Jean Baptiste Roussille Tel: + 33 6 14 51 09 88 E-Mail: jean-baptiste.roussille@viridiengroup.com |
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FAQ
What is the GeoVerse™ Carbon Storage Screening Study for the Gulf of Mexico?
How will Viridien's Gulf of Mexico study support upcoming lease rounds?
What does the full product of Viridien's Gulf of Mexico Carbon Storage Study include?
When was Phase 2 of Viridien's Gulf of Mexico Carbon Storage Study released?
