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Schlumberger to Invest Nearly $400 Million in Carbon-Capture Venture

Ben Glickman of The Wall Street Journal reports that Schlumberger is investing in carbon capture.

The C3 Take
  • 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.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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