Saudi Aramco has launched Saudi Arabia’s first carbon dioxide direct air capture (DAC) test unit, the company announced on Thursday.
The pilot plant has been developed in collaboration with Siemens Energy and is designed to remove up to 12 tonnes per year (tpy) of carbon dioxide from the atmosphere. Aramco intends to use the facility to test carbon capture materials and develop capture methods that can lower operational costs and accelerate the deployment of DAC in the region.
Aramco Ventures, the venture capital arm of Saudi Aramco, has joined international hardware and energy investors in a seed funding round to back the direct air capture (DAC) technology developed by German firm Ucaneo, the companies announced on Tuesday.
Operations at Saudi Arabia’s Jafurah shale gas field – the country’s largest unconventional non-oil associated gas site and arguably one of the biggest outside the U.S. – will begin this year, according to a comment last week from Saudi Aramco’s president and chief executive officer, Amin Nasser.
Saudi Aramco expects the total payout to be about $85 billion in 2025, compared with $124 billion for last year, it said in a statement Tuesday. The distribution has been in focus for investors and economists alike with the level of the payment likely to determine how much more the Saudi government would need to borrow to fill its budget deficit.
The CPA awarded to Accell enables Aramco to efficiently procure InflowControl’s patented AICV® technology to support the reduction of unwanted water and increase of net-oil from their onshore and offshore wells.
Unioil chief executive Janice Co Roxas-Chua said separately, “We are confident that this [the partnership with Aramco] will equip ourselves in accelerating our growth and development, further innovate, and strengthen our position as a leader in the wholesale and retail fuels market”.
Saudi Arabian Oil Co. on Monday signed 145 deals totaling about $9 billion as part of the oil giant’s In-Kingdom Total Value Add (iktva) program.
Aramco has signed a shareholders’ agreement with Linde and SLB, paving the way for development of a Carbon Capture and Storage (CCS) hub that is expected to become one of the largest globally. Under the terms of the shareholders’ agreement Aramco will take a 60% equity interest in the CCS hub, with Linde and SLB each owning a 20% stake.
The Jubail CCS hub’s initial phase will see up to 9 million tonnes of CO2 captured and stored each year, with construction completed by the end of 2027. Additional phases are planned in order to further expand the hub’s capacity.
Saudi Arabian Oil Co. (Aramco) has signed a shareholder agreement with two companies to build a carbon capture and storage (CCS) hub in Saudi Arabia with an initial capacity of nine million metric tons per annum (MMtpa).