One of the world’s leaders in energy services for the global oil and gas industry Petrofac has joined forces with carbon capture company and solution provider CO2 Capsol to collaborate on carbon capture projects.
Both sides have signed a non-exclusive agreement that will enable Petrofac to work in its capacity of a preferred engineering services provider for CO2 Capsol across the UK and Europe, and, eventually, around the rest of the world, as well.
The combined efforts and expertise of both companies will be used as a means to accelerate the world’s transition to a carbon negative future by providing essential net-zero infrastructure.
Potential Of The Carbon Capture Deal
As was pointed out by Petrofac Chief Operating Officer, John Pearson, the two sides of the agreement are both excited about their collaboration and see great potential to developing efficient carbon capture technologies that will cut costs along the value chain and will “fast-track carbon capture projects for industrial emitters”.
On his end of the agreement, CEO of CO2 Capsol, Jan Kielland commented on Petrofac’s leading position in the international energy industry, saying that it is ‘on the highest level’. And to illustrate this, he pointed out a series of contracts recently awarded to Petrofac, including the Front-end Engineering Design (FEED) contract for the Exergi Bio-CCS project in Stockholm.
In fact, both CO2 Capsol is also involved in the Stockholm project and will be working alongside Petrofac on the planned CO2 capture facility at one of the combined local heat and power plants. Design work is already underway on what is considered to become Europe’s largest Bio Energy Carbon Capture and Storage (Bio-CCS) plant.
The carbon capture plant is estimated to have a capacity of up to 800,000 tons of CO2 emissions per year, which is roughly the equivalent of the annual carbon dioxide emissions from traffic in the entire city of Stockholm. At this time, the plant is expected to come into operation in the second half of 2025.