Petrofac and Storegga Geotechnolgies have joined forces to collaborate on potential business development and project initiatives in carbon capture and storage (CCS), hydrogen and other low carbon projects.
To solidify the commitment, the companies today the signed a Memorandum of Understanding that builds new energy capability and capacity, representing a strategic step in Petrofac’s continued expansion into new and renewable energy.
With an initial focus on the UKCS and North West Europe, the MOU also includes scope for the parties to work together internationally.
John Pearson Petrofac Engineering & Production Services’ Chief Operating Officer, and Global Corporate Development Officer, commented “We are delighted to develop this strategic partnership with Storegga, who have a bold ambition to establish themselves as an operator of low carbon technology projects.”
“Like our existing offshore wind portfolio, CCS, hydrogen and other low carbon technologies require the complex engineering, project management and asset management capability we have developed in oil and gas.”
Nick Cooper, Chief Executive of Storegga Geotechnologies, added, “There is great value in Storegga working with companies such as Petrofac to bolster our engineering and project management capability. This will enable Storegga to accelerate the delivery of our CCS and hydrogen projects in support of the energy transition.”