22 July 2021
Storegga, an independent UK company pioneering carbon reduction and removal for a net zero world, has entered a global Technical Delivery Alliance (“TDA”) with Petrofac, a leading international service provider to the energy sectors.
Under the alliance, Petrofac will provide capabilities, people, processes and systems to reinforce the technical development and management of Storegga’s growing portfolio. This support will both accelerate and de-risk Storegga’s low carbon initiatives.
The TDA enables both Storegga and Petrofac to combine their respective strengths; Storegga as a well-funded independent with proven, entrepreneurial development skills and Petrofac as an established global engineering, project delivery and operations company providing life-of-asset solutions.
Today’s announcement builds on a previous Memorandum of Understanding, which positioned Storegga and Petrofac to collaborate on areas of business development. The strategic TDA enables infrastructure development, execution and operation; reinforcing Storegga’s operating capability and ambition to expand its portfolio in the fast-moving low carbon energy transition.
With an extendable multi-year term and global remit, this partnership is anticipated to make a major contribution to delivering the 2030 and 2050 emission reduction targets here in the UK and internationally.
Nick Cooper, CEO Storegga said:
“Storegga has greatly benefited from close cooperation with Petrofac to date. The Technical Delivery Alliance marries Petrofac’s world class engineering, project delivery and operational expertise to Storegga’s project development capability. These collaborative working practices are essential to fast-track delivery of critical net zero infrastructure.
“The alliance will progress net zero projects from initial concept, through development, to full operations. Storegga’s mission is to rapidly deliver world scale carbon reduction and carbon removal projects at the pace so urgently needed.”
John Pearson, Chief Operating Officer of New Energy Services at Petrofac, said:
“Achievement of the UK’s Net Zero ambition is very much contingent on the supply chain’s ability to fast track project delivery. Through this innovative industry alliance, we will have the strengths and capabilities required to execute those projects and drive the transition. By developing capacity early, and anchoring jobs to the UK, the alliance will ultimately support future export potential.
“We are thrilled to build on our existing relationship with Storegga, in support of each company’s stated growth ambitions in the new energy sector.”
For further information please contact:
Camarco (PR and Media)
Billy Clegg, Monique Perks, Tom Huddart
020 3757 4983
Madano (Public Affairs)
Andrew Turner, Neil Stockley, James Watson
Notes to Editors:
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.
For more information on Storegga, Pale Blue Dot or Acorn contact firstname.lastname@example.org or 020 3757 4980
For more information on the Acorn CCS and Hydrogen Project, please visit: About Acorn – Acorn CCS - https://theacornproject.uk/about/
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world’s leading energy companies.
Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world’s evolving energy needs.
Petrofac’s core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 9,400 employees based across 31 offices globally.
Petrofac is quoted on the London Stock Exchange (symbol: PFC).
For additional information, please refer to the Petrofac website at www.petrofac.com