Projects

Carbon Capture and Storage

A potential European-scale CCS opportunity

Block’s XIB field hosts a major Carbon Capture and Storage (CCS) opportunity with the potential to support a net-zero CO₂ hub in Georgia’s industrial heartlands.

A successful CO₂ mineralisation injection test, the first completed in the Eastern European region, highlights the possibility for a CO₂ storage capacity that, with an independent mid-case estimate of 151.5m tonnes, would rank amongst the highest in Europe.

The pilot indicated the site’s viability for the highly efficient mineral trapping method in commercial use in Iceland, where 100,000 tonnes of CO₂ have so far been permanently injected into basaltic rock.

Gabon – A new front

A new offshore growth platform

In April 2026 Block became an international independent energy company with a 76.5% indirect economic interest in the contiguous Ndjila and Mpari PSCs located offshore Gabon in the North Gabon basin, West Africa, a mature hydrocarbon province with established operators, export routes, and a long production history.

The contiguous licences offer 75 MMbbl pMean discovered oil with up to >870 MMbbl pMean STOIIP upside. The combined area of 5,331 km² containing four historical oil discoveries drilled by prior operators including Texaco, Shell and Tullow, offering pathways to farm-outs at multiples of the acquisition value.