May 3, 2023
Wood, the global engineering and consulting company has signed a Memorandum of Understanding (MoU) with Computer Modelling Group Ltd. (CMG), a world leader in oil and gas reservoir simulation and decision support, specializing in carbon capture and storage (CCS) projects.
Under this agreement, Wood will combine its surface, fluids transport and pipeline engineering expertise with CMG’s world leading subsurface software and services to provide an integrated and connected approach to CCS project development.
Executive President of Consulting at Wood, said: “Collaboration across the supply chain is critical if we are to design and deliver a low-carbon energy future. With growing support from governments to accelerate decarbonisation, we need to continue to partner and innovate so we can develop and scale practical solutions to reduce carbon emissions.
“At Wood, we pride ourselves on our ability to integrate complementary expertise and services to deliver end-to-end solutions for our clients. We believe that in working with CMG we can help clients realise CCS project ambitions.
“Wood has decades of experience delivering feasibility studies, concept selection, engineering design, and the implementation of capture technologies. Our understanding of existing oil and gas infrastructure means we can advise clients on how assets could be repurposed to transport and store CO2.”
Wood recently announced it had completed carbon capture and transportation studies for more than half of the 300 carbon capture facilities being planned worldwide.
Chief Executive Officer at CMG, stated: “Carbon capture and storage is a vital component of the decarbonisation journey, and simulation is imperative to mitigating risk and ensuring safety in these complex projects.
“As technology leaders, we believe that we must not only continually innovate to address new challenges but also collaborate with industry leaders to deliver comprehensive, market-leading solutions. We are pleased to provide our industry-recognized technology and expertise in subsurface CO2 injection to this partnership with Wood.”
CMG has over 20 years of experience researching and developing solutions for carbon capture. Leveraging expertise in CO2 injection to enhance oil recovery, CMG’s solutions can be applied to enable energy companies to safely and effectively accelerate the transition to a low carbon future. Currently, CMG is actively contributing to the majority of active CO2 sequestration projects globally and plays a key role in approximately three-quarters of energy transition projects in Europe, largely around hydrogen and geothermal energy.
Combining the right technologies with field expertise, companies in oil and gas and other carbon intensive industries can achieve net zero carbon goals while mitigating the financial and technical risks.