June 2015 - Axis shares £2.5m CCS Contract Award

It has been announced that the ETI has awarded a £2.5 million contract to a consortium comprising Pale Blue Dot Energy and Axis Well Technology with Costain as a partner.Commencing in May, the twelve month project is funded by DECC and will deliver a screened and appraised portfolio of offshore deep geological CO2 Storage sites for potential deployment in future Carbon Capture and Storage (CCS) projects beyond the current DECC CCS Commercialisation programme, in the mid-2020s.CCS is one of the very few technologies available which can eliminate the damaging climate changing emissions from fossil fuels such as coal, oil and gas whilst these fuels continue to be used in our transition to a low carbon world.Den Gammer, ETI Carbon Capture and Storage (CCS) Strategy Manager, said: The UK is blessed with a strategically important geological CO2 storage resource. This project will drive the appraisal and progression of five significant offshore storage sites which will put the UK on track to permanently store decades of emissions from many of its major power stations and industrial emitters. This will significantly de-risk and encourage the deployment of CCS technology in the years ahead."Steve Murphy, Director of Pale Blue Dot Energy, said We are very excited about winning this work and are pleased with the exceptionally strong team we have assembled for this project. We have been working in CCS since 2007. Our Partners include CO2DeepStore, Axis Well Technology and Costain who together bring huge capability and experience to this project. Jim Anderson, Chief Executive Officer of Axis Well Technology, said: We are delighted to be involved in this CCS project, helping to deliver on the UK's commitments to global emission reductions. Our highly skilled team at Axis Well Technology is looking forward to working with our partners Pale Blue Dot Energy, CO2DeepStore and Costain. Frazer Mackay, Sector Director (Oil and Gas), Costain added: We are delighted to be involved in this project, as it allows us to demonstrate Costain's expertise and the benefits of our capabilities, as we carry out feasibility studies at the concept stage. We are firm believers in the benefits of collaborative working, which is of utmost importance when delivering cost-effective solutions during challenging times within the industry.