Block Energy PLC shares climbed in Monday's early trade, adding around 10% to 1.07p, after it said it has completed a carbon capture and storage (CCS) pilot at its Patardzeuli Field in Georgia, with an independent report concluding the site can deliver permanent carbon storage through rapid mineralisation.
The AIM-quoted producer said the pilot successfully injected and monitored aqueous carbon dioxide in the Middle Eocene formation, with 13.64 tonnes of CO₂ dissolved in water pumped into the reservoir. O
Its consultant reported that injected CO₂ mineralised into stable carbonate minerals within one to three months, and there was no evidence of gas-phase migration or leakage. Block highlighted favourable reservoir characteristics, including reactive volcaniclastic rocks and zeolite minerals that promote rapid carbon mineralisation.
Following the pilot, the company said it is moving into a feasibility phase with its JV partner Rustavi Azot, a subsidiary of Indorama Corporation.