Aramco, SLB and Linde plan to build CCS project
Saudi oil giant Aramco, top oilfield services company SLB and Linde, the world's largest industrial gases company, have signed an agreement to build a carbon capture and storage (CCS) project in Jubail, Saudi Arabia.
Aramco will own 60% of the project while SLB and Linde will hold 20% each, the companies said in a joint statement on Wednesday.
The first phase is expected to be complete by the end of 2027, capturing and storing up to 9 metric MMtpy of carbon dioxide (CO2).
The project is intended to help Aramco to reach its target of net-zero emissions from its operations by 2050. Saudi Arabia has a net-zero target of 2060.
Captured CO2will be transported through pipelines to be stored below ground in a saline aquifer sink.
The three companies had signed a preliminary agreement on the project in November 2022.
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