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31 August 2007 - IFP, Géostock and BRGM are announcing the creation of a joint company, Geogreen, specializing in engineering services for the transport and geological storage of CO2.
These three leading French players are pooling their skills in order to position the company in the world market for the geological storage of CO2 and thereby contribute to reducing emissions of greenhouse gases.
IFP holds a 40 per cent stake in the new company, Géostock another 40 per cent, and BRGM 20 per cent. The technical activities are perfectly complementary between shareholders.
This enables Geogreen to provide the industries concerned with a very broad range of services, covering the whole chain from the transport of CO2 to its geological storage, from upstream expertise to engineering and project development.
In the longer term, Geogreen will offer injection site inspection and maintenance services, and monitoring services in connection with closures of storage sites.
Gilles Munier, Chief Executive Officer, Pierre Le Thiez, Executive Vice-President, and Carlos Gomez-Montalvo, Vice-President Sales & Marketing, will lead the new company.
Aware of the environmental stakes for future generations, and the importance of taking steps towards sustainable development, Geogreen is firmly committed to a public interest approach.
Its leaders are determined to apply a stringent health, safety and environmental protection policy and to work in complete transparency with all players concerned by its business.
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