Geological Storage of CO2



    Founding of the Geogreen Company by Three Major Players in the Field

    RUEIL-MALMAISON, France, Aug. 30 /CNW/ - IFP, Geostock and BRGM are
announcing the creation of a joint company, Geogreen, specializing in
engineering services for the transport and geological storage of CO2. These
three leading French players are pooling their skills in order to position the
company in the world market for the geological storage of CO2 and thereby
contribute to reducing emissions of greenhouse gases.
    IFP holds a 40% stake in the new company, Geostock another 40%, and BRGM
20%. The technical activities are perfectly complementary between
shareholders. This enables Geogreen to provide the industries concerned with a
very broad range of services, covering the whole chain from the transport of
CO2 to its geological storage, from upstream expertise to engineering and
project development. In the longer term, Geogreen will offer injection site
inspection and maintenance services, and monitoring services in connection
with closures of storage sites.
    Gilles Munier, Chief Executive Officer, Pierre Le Thiez, Executive
Vice-President, and Carlos Gomez-Montalvo, Vice-President Sales & Marketing,
will lead the new company.
    Poorly developed only a decade ago, CO2 technologies are today recognized
as a way to make a significant dent in emissions of greenhouse gases.
Industries that emit CO2 are taking a close look at mass geological storage
solutions, and pilot CO2 capture and injection facilities are mushrooming all
over the world.
    Aware of the environmental stakes for future generations, and the
importance of taking steps towards sustainable development, Geogreen is firmly
committed to a public interest approach. Its leaders are determined to apply a
stringent health, safety and environmental protection policy and to work in
complete transparency with all players concerned by its business.

    As an international research and training center, IFP is developing the
transport energies of the 21st century. The capture and storage of CO2 are
among its strategic priorities. http://www.ifp.fr

    Geostock is an international engineering group and a leader in the
underground storage of hydrocarbons, in particular natural gas.
http://www.geostockgroup.com

    BRGM, is a French leading public institution the Earth sciences field to
manage the resources and risks of the soil and the subsoil. http://www.brgm.fr




For further information:

For further information: Press contact: Geostock: Christine Marion, Tel:
+33-1-47-08-73-56, cmn@geostock.fr; IFP: Anne-Laure de Marignan, Tel:
+33-1-47-52-62-07, a-laure.de-marignan@ifp.fr; BRGM: Daniele Roblin, Tel:
+33-2-38-64-39-76, droblin@brgm.fr

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