ABERDEEN -- Petrofac has acquired Aberdeen-based CO2 geological storage specialist CO2DeepStore. The company’s executive management team will join Petrofac as part of the agreement.
Carbon capture/storage involves capturing carbon dioxide emitted from sources such as coal and gas-fired power generation facilities, LNG, and gas processing plants, then transporting the CO2 safely for subsequent storage deep underground in depleted gas reservoirs or saline aquifers.
This is Petrofac’s first foray into the low carbon energy sector. The company sees synergies between the CO2 transport and storage business and Petrofac’s Offshore Engineering & Operations and Energy Developments businesses.
Petrofac branches into carbon capture
Petrofac has acquired Aberdeen-based CO2 geological storage specialist CO2DeepStore.