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Energean Selects Halliburton for Carbon Storage Subsurface Study in Greece

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Halliburton Company (NYSE: HAL) announced a collaboration with Energean to conduct a carbon storage potential study for the Prinos basin in Greece. The study will involve long-term plume modeling and a conceptual development plan using Halliburton's DecisionSpace 365® cloud applications. This partnership marks the first end-to-end carbon capture and storage evaluation collaboration between an operator and energy service provider in Europe. The project could accommodate emissions equivalent to the Greek manufacturing sector for a decade starting 2025, demonstrating a commitment to energy transition.

Positive
  • Collaboration with Energean enhances Halliburton's role in carbon capture and storage.
  • Potential to store CO2 emissions equivalent to the Greek manufacturing sector for 10 years.
  • First end-to-end CCS evaluation collaboration in Europe showcases innovation.
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  • None.

Study to deliver comprehensive subsurface review for suitability of Carbon Capture Storage

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) today announced Energean, an independent E&P company focused on developing resources in the Mediterranean and the North Sea, awarded it a study to assess carbon storage potential of the Prinos basin in Greece.

Halliburton carbon capture, utilization and storage (CCUS) experts will collaborate with Energean to evaluate the Prinos area’s carbon dioxide (CO2) storage complex. The scope of work will include long-term plume modeling, characterizing the storage complex, and a conceptual development plan with performance modelling. Additionally, Halliburton will deploy a fully integrated CO2 storage workflow leveraging DecisionSpace 365® cloud applications including Permedia® CO2 software, the World Petroleum Congress excellence award winner.

“We are excited to build on our strong relationship with Energean and to collaborate on this exciting carbon storage subsurface study where we will utilize Energean’s deep local understanding of the Prinos areas and Halliburton’s comprehensive carbon storage knowledge,” said Martin White, vice president of Halliburton Europe, Eurasia and Sub-Saharan Africa. “This project will be the first end-to-end CCS subsurface evaluation collaboration between an operator and energy services provider in Europe, and we look forward to supporting Energean’s energy transition journey.”

“We are excited to collaborate in this landmark project with Halliburton,” said Katerina Sardi, Energean Managing Director and Country Manager in Greece. “Prinos has been identified as an ideal location to host a CO2 Storage plant with a potential storage capacity adequate to store about 100% of the emissions of the Greek manufacturing sector for a period of 10 years, starting from 2025. Halliburton’s unique know-how and acquaintance with Prinos ensures strong project collaboration and provides the basis for the successful implementation of a project that is core to Energean’s path to net zero.”

The work on the Prinos carbon storage subsurface study began in early March.

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

ABOUT ENERGEAN

Established in 2007, Energean is a London Premium Listed FTSE 250 and Tel Aviv Listed E&P company with operations in eight countries across the Mediterranean and UK North Sea. Since IPO, Energean has grown to become the leading independent, gas-focused E&P company in the Eastern Mediterranean, with a strong production and development growth profile. The Company explores and invests in new ideas, concepts and solutions to produce and develop energy efficiently, at low cost and with a low carbon footprint.

Halliburton

For Investors:

David Coleman

Investor Relations

investors@halliburton.com

281-871-2688

For News Media:

Emily Mir

External Affairs

pr@halliburton.com

281-871-2601

Energean

Paddy Blewer

Head of Corporate Communications

blower@energean.com

+44 7765 250 857

Sotiris Chiotakis

Media & Corporate Communications

schiotakis@energean.com

+30 6932663877

Source: Halliburton Company

FAQ

What is Halliburton's recent project with Energean about?

Halliburton is conducting a carbon storage potential study for the Prinos basin in Greece in collaboration with Energean.

When did Halliburton start the carbon storage study?

The study on the Prinos carbon storage began in early March.

How much CO2 can be stored at the Prinos site according to Halliburton?

The Prinos site has the potential to store enough CO2 to cover the emissions of the Greek manufacturing sector for 10 years, starting from 2025.

What technology will Halliburton use for the carbon storage project?

Halliburton will utilize its DecisionSpace 365® cloud applications and Permedia® CO2 software for the project.

What does the collaboration with Energean represent for Halliburton?

This collaboration is the first end-to-end CCS evaluation partnership in Europe between an operator and an energy services provider.

Halliburton Company

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