SLB combines carbon capture business with Aker Carbon Capture

March 28, 2024
Following the transaction, SLB will own 80% of the combined business and ACC will own 20%.

Offshore staff

HOUSTON SLB has formed an agreement to combine its carbon capture business with Aker Carbon Capture (ACC) to support accelerated industrial decarbonization at scale.

The combination will leverage ACC’s commercial carbon capture product offering and SLB’s new technology developments and industrialization capability. SLB's goal is to accelerate the introduction of disruptive early-stage technology into the global market on a commercial, proven platform.

Following the transaction, SLB will own 80% of the combined business and ACC will own 20%.

SLB will pay NOK 4.12 billion ($379.6 million) to purchase 80% of ACC Holding AS, which holds the business of ACC, and will contribute the SLB carbon capture business to the combined entity. SLB may also make additional payments of up to NOK 1.36 billion ($125.3 million) over the next three years based on the performance of the business.

The transaction is expected to close by the end of second-quarter 2024.

03.28.2024

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