Synergia Energy has started a ‘farm out process’ for its Medway Hub Camelot CCS project in the UK, while remaining as designated operator.
Synergia and partner Wintershall Dea each hold a 50% interest in the CS019 Camelot carbon storage licence, located in the southern North Sea, which is projected to store between 70-100 million tonnes of carbon dioxide (CO2).
The company believes a farm out agreement would materially lower its capital commitments while ‘potentially strengthening the partnership operationally and technically’.
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