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Friday, March 31, 2023

Core (NYSE: CLB) Announces Strategic Alliance with Euronext Amsterdam and Talos

Core Laboratories N.V. (NYSE: CLB) confirmed that it has established a strategic alliance with Euronext Amsterdam and Talos Energy Inc. (NYSE: TALO). This partnership aims to offer technical assessment and guarantee for carbon capture and sequestration (CCS) opportunities. The partnership integrates Core Lab’s market-leading reservoir description and optimization technologies with Talos’s expertise in subsurface characterization and engineering.

As per the partnership, Core Lab and Talos will work together to assess potential CCS sites for suitability and optimal subsurface stratigraphic targets using advanced reservoir characterization techniques such as stratigraphic test wells, reservoir core sampling, geological evaluation, and rock and fluid sample properties analysis. Through specific subsurface study and monitoring strategies, these technical data sets will be leveraged to give best-in-class sequestration assurance.

In addition to the collaboration, Talos is a member of Core Lab’s joint-industry CCS consortium, which was recently launched. The partnership will improve the knowledge of the nascent CCS business about the geotechnical constraints and dangers associated with CO2 subsurface storage. It will emphasize reservoir capacity, injectivity, and containment integrity.

Core Laboratories believed that this partnership would accelerate the delivery of scalable, reliable, and safe carbon sequestration solutions to the market by combining complementary technical strengths in subsurface characterization and reservoir optimization. It is enthusiastic about the good influence this effort will have on climate measures in the long run.

Furthermore, Talos is excited to announce this strategic partnership with Core Laboratories, in which both the firms will work together to provide technical assurance for its sequestration sites and, ultimately, for its customers. This agreement strengthens Talos’ ability to supply high-quality, end-to-end CCS solutions to potential clients across the Gulf Coast by using its respective subsurface knowledge.

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