Energean Selects Halliburton for Carbon Storage Subsurface Study in Greece

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

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220323005071/en/