REG - Synergia Energy Ltd - UK CCS License Applications

Synergia EnergyAnnouncement

27/06/2023 10:30

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RNS Number : 0511E  Synergia Energy Ltd  27 June 2023

RNS Announcement

 

27 June 2023

AIM: SYN

UK CCS License Applications

 

Synergia Energy Ltd (the "Company" or "Synergia") is pleased to provide the
following update concerning the award of licenses under the North Sea
Transition Authority ("NSTA") 1(st) carbon storage licensing round.

 

NSTA have confirmed that the license application made by Synergia,
CS01_2022_APP25 (Camelot), has been successful. The license application was
made jointly with Synergia's 50:50 partner, Wintershall Dea, with Synergia as
operator.

 

The award of the carbon storage license marks a significant milestone for the
Company's Medway Hub CCS project.

 

The Medway Hub CCS
(https://www.synergiaenergy.com/sites/synergia-energy-ltd/files/synergia-energy-ltd/operations/united-kingdom/medway-hub-ccs-r7-we.pdf)
 project provides for the capture and transportation of CO(2) emissions from
coastal Combined-Cycle Gas Turbine power stations in liquid form by marine
tanker to a Floating Injection, Storage and Offloading vessel (FISO) from
which the CO(2) would be injected into depleted gas fields and saline
aquifers, which are situated in the UK Continental Shelf, for permanent
sequestration.

 

The carbon storage license has a work program that incorporates an appraisal
phase comprising seismic re-processing, technical evaluations and risk
assessment, a contingent FEED study leading to the potential storage license
application in 2028 following the final investment decision ("FID"). The
Camelot license also includes a contingent appraisal well. First CO(2)
injection is anticipated for 2032. The Company's share of the initial work
phase is subject to funding as would be the FID, to be made in due course.

 

Synergia's Chief Executive Officer, Roland Wessel, said:

 

"The Company has been working closely with Wintershall Dea over the last 12
months to develop the Medway Hub CCS project and prepare the carbon storage
license applications. Synergia is delighted to have Wintershall Dea as
partners in the Medway Hub CCS project given Wintershall Dea's significant
involvement in CCS projects in Norway and Denmark."

 

For and on behalf of Synergia Energy Limited

 

Roland Wessel

CEO

 

 

 

 

For further information, please contact:

 

 Investor Enquires                    AIM Broker                            AIM Nominated Adviser              Media Enquires (UK)

 Synergia Energy Ltd                  Novum Securities                      Strand Hanson Limited              Vigo Consulting

 Briana Stayt                         Broker                                Nominated Adviser                  Investor Relations

 Investor Relations                   Colin Rowbury                         Ritchie Balmer/Rory Murphy         Patrick d'Ancona / Finlay Thomson

 Email:  bstayt@synergiaenergy.com    Email: crowbury@novumsecurities.com   Tel: +44 20 7409 3494              Email: patrick.dancona@vigoconsulting.com

 Tel: +61 8 9485 3200                 Tel: +44 20 7399 9427                 UK                                 finlay.thomson@vigoconsulting.com

 Australia                            UK                                                                       Tel:+ 44 20 7390 0230 UK

 

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