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Expro Wins Well Test Contract for Major UK CCS Project

1. Expro secures key contract for UK offshore CCS project. 2. Endurance reservoir can store up to 450 million tonnes of CO2. 3. Contract enhances local job security and economic development. 4. Partnership with Baker Hughes strengthens CCS service offering. 5. Expro expands expertise in CCS, building on prior project successes.

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Why Bullish?

The contract positions XPRO strategically in a growing CCS market, mimicking historical growth in oil sectors. Companies such as Halliburton saw stock boosts from similar service contracts linked to emerging technologies.

How important is it?

The contract firmly positions Expro within the CCS sector, which is rapidly gaining government support. Given its influence on revenue sustainability and job security, this news is quite significant.

Why Long Term?

The contract's alignment with UK government CCS targets underscores prolonged demand, similar to long-term contracts in renewable energy which provided sustained revenue growth.

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Latest contract extends Expro’s decade-plus support of the UK Carbon Capture and Storage (CCS) industry ABERDEEN, Scotland--(BUSINESS WIRE)--Energy services provider, Expro (NYSE: XPRO), has secured a key contract to deliver integrated well testing services for a high-profile carbon capture and storage (CCS) project offshore UK. This award follows soon after the industry’s much anticipated December 2024 award of the first ever carbon storage permit by the UK Regulator, the North Sea Transition Authority (NSTA), to the Northern Endurance Partnership (NEP) for the storage of carbon dioxide in the Endurance reservoir located off the North-East Coast of England. Expro has been commissioned by NEP to provide critical services that will be needed to appraise two wells in the Endurance reservoir for future CCS suitability. The production and injection testing of the Endurance aquifer will provide important information that will be used to characterize the reservoir as part of the East Coast Cluster field development plan. Expro will deliver operations using capabilities and technologies from its well testing, fluid sampling and analysis, and subsea business segments. To provide a fully integrated CCS appraisal solution, Expro has selected Baker Hughes to provide its electrical submersible pumps (ESP) and Metrol Technology for Drill Stem Testing (DST), Downhole Data Acquisition and Wireless Telemetry Services. The Endurance reservoir has the capacity to store up to 450m tonnes of CO2. It is regarded as critical to achieving UK Government CCS targets of 20-30 million tonnes of CO2 a year by 2030 and over 50 million tonnes a year by 2035. Northern Endurance Partnership (NEP) is a joint venture between bp, TotalEnergies, and Equinor. It was formed in 2020 as the East Coast Cluster CO2 transportation and storage provider, which will transport and store CO2 emissions from the Teesside and the Humber industrial clusters. The contract is expected to safeguard local jobs in the North-East of Scotland, reinforcing Expro’s long-standing presence in the region. The company’s well test team will be based at its regional center of excellence in Aberdeen, ensuring operations are delivered utilizing local expertise. In its commitment to regional economic development, Expro will also prioritize engagement with UK-based suppliers, helping to strengthen and sustain the national energy supply chain. Expro has more than 20 years’ experience in supporting CCS projects around the world, including the Northern Lights project in Norway. The company also has a 50-year-plus heritage of supporting the energy industry in the North Sea. Iain Farley, Regional Vice President for Europe and Sub-Saharan Africa at Expro said: “Our success in securing this contract for the Northern Endurance Partnership demonstrates Expro’s ability to use our reservoir appraisal and well test capabilities, that have traditionally been used for the development of oil and gas reservoirs, to help kick-off the carbon storage industry in the UK. Expro is proud of both playing a key role in helping to decarbonize the UK and in the confidence that the Northern Endurance Partnership has placed in Expro to successfully deliver this project. “This contract win builds on the success of the integrated well testing services that Expro has also provided to Equinor for the Northern Lights CCS project in Norway. It also demonstrates our commitment to the UK’s CCS program and the opportunities it is expected to create for local employment, economies, and supply chains.” Notes to Editors Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions. With roots dating to 1938, Expro has approximately 8,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in more than 50 countries. For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success, safety, efficiency and sustainability of the Company’s tubular running services technologies, the Company’s environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.

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