GETECH, a geonergy and green hydrogen company, is contracted to deploy geospatial software and subsurface expertise supporting the UK’s first carbon storage licensing round.
Working with the North Sea Transition Authority (NSTA) Getech has used its exploration analyst software to leverage NSTA’s in-house data.
This is creating maps that the NSTA is using to define optimal areas for CO2 storage.
The NSTA recently announced the UK’s first carbon storage licensing round.
Inviting bids on 13 high-graded areas that have the potential to make a significant contribution to the UK Government’s aim of storing 20-30 million tonnes of CO2 by 2030.
Getech’s Chief Executive Officer, Dr Jonathan Copus, commented:
“Getech is working to accelerate the energy transition by assisting companies and governments in their delivery of sustainable and secure decarbonisation.
“We do this by deploying our unique geoscience data and proprietary geospatial software to help locate and manage low carbon developments.
“NSTA’s use of Exploration Analyst to map and promote an integrated ‘emissions-to-storage’ value chain in and around the UK North Sea showcases another exciting application of products that we originally developed for petroleum customers.
“Placing the demand for our carbon storage offering in a global context, 130 new commercial-scale CO2 capture projects were announced in 2021, with the International Energy Agency forecasting that the capital spending could exceed US$40bn by 2024 (from US$1.8bn in 2021).
“The world however must locate and develop a further 700 carbon storage projects at this scale by 2030 to stay on track for the IEA’s 2050 Net Zero Emission Scenario.
“In step with the rapidly expanding energy transition markets, we look forward to scaling the deployment of our products, which we are also using to locate, develop and operate our own project investments.”
