Geological Storage of CO2

RUEIL- MALMAISON, France, August 30 (ots/PRNewswire) -

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

IFP, Géostock 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, Géostock another 40%,
and BRGM 20%. The technical activities are perfectly complementary
between shareholders. This enable 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

Géostock 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

ots Originaltext: ifp
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Contact:
Press contact: Géostock: 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: Danièle Roblin, Tel:
+33-2-38-64-39-76, droblin@brgm.fr