SLB, Aker Carbon Capture finalise joint venture

Global energy services company SLB and Norway's Aker Carbon Capture (ACC) announced the finalisation of their joint venture on June 14.

The new company combines technology portfolios, expertise, and operations platforms to support accelerated carbon capture adoption for industrial decarbonisation. Gavin Rennick, president of SLB’s New Energy business, said, "In the next few decades, many industries that are crucial to our modern world must rapidly adopt CCS to decarbonise. Through the joint venture, we are excited to accelerate disruptive carbon capture technologies globally."

The new company will combine ACC’s amine-based Advanced Carbon Capture technologies, including Just Catch and Big Catch modular plant technologies for medium- and large-scale facilities, and Just Catch Offshore for offshore gas turbines, with SLB’s portfolio of technology solutions, including non-aqueous solvent and emerging sorbent-based offerings.

The company currently has seven technology installations in progress that have the capacity to capture up to 1 million tonnes per year of CO2 emissions.

“There is no business as usual in the push towards net zero—we will accelerate decarbonisation today and commercialise innovative technologies for the future,” said Egil Fagerland, newly appointed Chief Executive Officer of the SLB–Aker Carbon Capture joint venture.

The new company will be headquartered in Oslo. SLB owns 80% of the new company, while ACC owns the remaining 20% stake.