Talos Energy Inc. has formed a joint venture with Storegga Geotechnologies to source, evaluate and develop carbon capture and storage (CCS) project opportunities on the U.S. Gulf Coast and Gulf of Mexico, including state and federal waters offshore Texas, Louisiana, Mississippi and Alabama. The partners are actively exploring opportunities with counterparties along the CCS value chain.

Under the joint venture framework, the partners, in collaboration, will originate and mature CCS ventures with emitters, infrastructure providers, service companies and financing partners, among others.

The U.S. Gulf Coast is a prime location for offshore carbon capture projects in the U.S. The area contains some of the nation's highest concentrations of power generation, industrial and petrochemical facilities, including 100+ facilities emitting more than 1,000,000 tons of CO₂ emissions per year. In addition to the large industrial multi-national companies and conglomerates present in the region, there is also a high density of smaller private and "middle-market" industrial sites which may require CCS solutions in the future.

This industrial network is immediately adjacent to a large natural carbon storage province located offshore in shallow waters in the Gulf of Mexico Shelf and potentially holding over 30 gigatons of available storage in geological structures with the necessary rock properties and fluid type to effectively store significant CO₂ volumes. With its long history as a prolific energy producing region, the Gulf of Mexico also offers vast infrastructure and service networks as well as a capable labor force. These essential technical and commercial elements can supply the growing demand for large-scale CCS emissions solutions in one of the biggest industrial regions in the world.

"We have a responsibility to deliver affordable, reliable energy with the lowest carbon footprint possible, and this joint venture allows us to expand our impact beyond our own assets to provide solutions for removing emissions from critical industrial sectors in our backyard," said Talos President and CEO Timothy S. Duncan. "We are actively working on a host of ideas and are proud to be an exclusive operating partner with a recognized leader in the rapidly-evolving CCS space."