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18 Jun 2024

The JV agreement has been completed by SLB and Aker Carbon Capture

The JV agreement has been completed by SLB and Aker Carbon Capture

The completion of the JV agreement has resulted in a new company, which will combine technology portfolios, expertise and operations platforms. These will be the focus so that the company can aim to support and accelerate carbon capture adoption, when it comes to industrial decarbonisation.

This innovative new company will be based in Oslo and SLB will own 80% of it, whilst ASS ASA will own the other 20% of it.

Both companies have made it clear that the plan for this new company is to combine ACC’s amine-based Advanced Carbon Capture™ technologies and this includes Just Catch™ and Big Catch™ modular plant technologies. These specific technologies will be put to use for medium- and large-scale facilities, plus Just Catch Offshore™ will be used for offshore gas turbines, with SLB’s portfolio of technology solutions. This portfolio includes things such as non-aqueous solvent and emerging sorbent-based offerings. At the moment, the company has seven technology installations in progress and these all have the ability to capture an estimated one million tonnes of CO2 emission on an annual basis.

President of SLB’s New Energy business, Gavin Rennick, commented, “There is no credible pathway toward net zero without deploying carbon capture and sequestration (CCS) at scale. In the next few decades, many industries that are crucial to our modern world must rapidly adopt CCS to decarbonize. Through the joint venture, we are excited to accelerate disruptive carbon capture technologies globally.”

Newly appointed Chief Executive Officer of the SLB–Aker Carbon Capture joint venture, Egil Fagerland, added,  “There is no business as usual in the push toward net zero—we will accelerate decarbonization today and commercialize innovative technologies for the future. We are proud of the carbon capture plants we are delivering across various industries, with each customer being an important front-runner in its segment. Successful project deliveries are paving the way for other emitters to follow.”

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