Ben Glickman of The Wall Street Journal reports that Schlumberger is investing in carbon capture.
- Oil field services company Schlumberger will pay nearly $400 million to acquire an 80% stake in carbon-capture company Aker Carbon Capture.
- Schlumberger has already begun to invest in the technology and will contribute its own carbon capture business to the venture.
- Schlumberger’s interest in carbon capture is a boon for the technology and proof that the private sector is best equipped to address climate and energy challenges.
“Oil-field-services company Schlumberger said late Wednesday that it would pay 4.12 billion Norwegian krone ($381.5 million) for the stake in the company and would contribute its own carbon-capture business to the combined venture. Schlumberger may also make 1.36 billion Norwegian krone in performance-based added payments in the next three years.”
Read the full article here.
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