Oilex Ltd (GB:SYN) has released an update.
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Synergia Energy Ltd has initiated a farm-out process for up to 50% of its 50% interest in the UK Southern North Sea’s Medway Hub Camelot CCS project, which has the potential to store 70-100 million tonnes of CO2. With strong interest from potential partners, the company is looking to divest a portion of its stake while retaining its status as the designated operator, pending regulatory approval.
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