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Block Energy Plc ( (GB:BLOE) ) just unveiled an announcement.
Block Energy plc has made significant progress on Phase 2 of its Carbon Capture and Storage (CCS) project in Georgia, resolving key subsurface uncertainties ahead of a pilot test. The project involves redesigning existing wells for CO2 injection, with successful tests indicating the reservoir’s suitability for CO2 mineralisation at shallower depths, potentially reducing costs. The company is collaborating with Indorama, a major petrochemical company, and is on track to begin CO2 injection by mid-2025, marking a critical step towards commercial-scale sequestration.
More about Block Energy Plc
Block Energy plc is an AIM-quoted independent oil and gas production and development company focused on Georgia. The company holds interests in seven Production Sharing Contracts in central Georgia, covering a significant area, including the XIB licence with substantial gas resources. Block Energy is strategically positioned to enhance energy production in Georgia, aiming to increase existing production, redevelop fields, and explore new oil and gas deposits, with a focus on the EU market.
YTD Price Performance: 40.74%
Average Trading Volume: 1,300,695
Technical Sentiment Signal: Buy
Current Market Cap: £7.31M
For detailed information about BLOE stock, go to TipRanks’ Stock Analysis page.