Storegga and Talos Energy announce lease agreement for major carbon sequestration hub in Mississippi River industrial corridor

16th February, London: Storegga, the independent UK decarbonisation early-stage developer, is pleased to announce that Talos Energy, partner to Storegga, has reached an agreement with a large Louisiana landowner to lease approximately 26,000 acres along the Mississippi River industrial corridor for future carbon capture and sequestration (“CCS”) projects. The announcement marks the first major CCS project in the Baton Rouge / New Orleans area, known as the “River Bend CCS” project, and the first with an integrated midstream solution dedicated to permanent sequestration activities.

Talos will be the project manager and operator of the injection, storage and monitoring.

Key highlights include:

• Approximately 26,000 acres leased in Iberville, St. James, Assumption and Lafourche Parishes, one of the largest industrial regions in the United States with approximately 80 million metrics tons of CO2 emitted regionally per year
• One Hub-class sequestration project comprised of three distinct sites with a cumulative storage capacity of over 500 million metric tons and identified collectively as River Bend CCS
• Located in a superior geologic fairway containing a 3,000+ foot thick saline aquifer column with porosity and permeabilities ideal for sequestration activities

Commenting on the announcement, Nick Cooper, CEO at Storegga, said:

“Talos Energy’s plans to develop a major carbon capture and storage hub in the Mississippi River industrial corridor in the US is another major step forwards in global efforts to reduce CO2 in the atmosphere. As the world transitions to renewable sources of energy, carbon capture developments at the scale we are developing at the Acorn Project in Scotland and with Talos in the US Gulf Coast present a real opportunity to abate carbon emissions. Removing carbon from the atmosphere is a global priority, requiring large-scale developments internationally to have a material impact. We are exploring the viability of multiple carbon capture and storage developments globally at the moment and it is our mission to bring them online with the urgency the world demands.”

Link to Talos Energy release

For further information please contact:
Camarco (PR and Media)
Monique Perks, Tom Huddart, Billy Clegg, Emily Hall - 020 3757 4983

Madano (Public Affairs)
Andrew Turner, Neil Stockley, James Watson - 07702 962043

Notes to Editors:
Storegga
Storegga is an independent, UK-based carbon management business at the forefront of the global Net Zero strategy. It aims to champion and deliver carbon capture and storage (“CCS”), hydrogen, and other subsurface renewable projects in the UK and internationally to accelerate carbon emission reductions.

Through its wholly owned subsidiary, Pale Blue Dot Energy, Storegga is the lead developer of the Acorn Carbon Capture and Storage (“CCS”) and Hydrogen project, providing essential infrastructure to help the UK meet its net zero targets.

The Acorn Project will provide critical backbone infrastructure for the Scottish Cluster. The Scottish Cluster unites communities, industries and businesses to deliver CCS, hydrogen and other low carbon technologies, supporting Scotland, the UK and Europe to meet net zero goals.

Storegga has partnered with leading engineering and technology groups at the forefront of their fields to accelerate infrastructure development. The Company has partnered with Carbon Engineering to develop Direct Air Capture (“DAC”) in the UK.

Storegga:(https://www.storegga.earth/)

For more information on Storegga, Pale Blue Dot or Acorn contact storegga_media@camarco.co.uk or 020 3757 4980

For more information on the Acorn CCS and Hydrogen Project, please visit: About Acorn – Acorn CCS - https://theacornproject.uk/about/ 


Talos Energy
Talos Energy (NYSE: TALO) is a technically driven independent exploration and production company focused on safely and efficiently maximizing long-term value through its operations, currently in the United States and offshore Mexico, both upstream through oil and gas exploration and production and downstream through the development of future carbon capture and storage opportunities. As one of the Gulf of Mexico's largest public independent producers, we leverage decades of technical and offshore operational expertise towards the acquisition, exploration and development of assets in key geological trends that are present in many offshore basins around the world. With a focus on environmental stewardship, we are also utilizing our expertise to explore opportunities to reduce industrial emissions through our carbon capture and storage initiatives along the U.S. Gulf Coast and Gulf of Mexico. For more information, visit www.talosenergy.com.