SLB Collaborates with Northern Lights JV and Microsoft to Digitalize Carbon Capture and Storage Value Chain
11 Dezembro 2023 - 11:00AM
Business Wire
Regulatory News:
SLB (NYSE: SLB) and Northern Lights Joint Venture (NL) announced
today they have signed a memorandum of understanding (MoU) with
Microsoft to optimize integrated cloud-based workflows for the
operation of Northern Lights, one of the first CO2 transport and
storage providers for cross-border carbon capture and storage
(CCS). The collaboration will contribute to the development of
scalable and cost-efficient digital solutions for the emerging CCS
industry.
“Digital workflows are a key component to successfully managing
CO2 through the end-to-end value chain, from capture point to
permanent storage. Northern Lights is very pleased to partner with
industry leading tech companies, SLB and Microsoft, on the
development of digital CCS solutions”, said Børre Jacobsen,
Managing Director of Northern Lights.
In the initial phases of the collaboration, SLB will extend its
digital CCS workflows and numerical simulation systems on its
Delfi™ digital platform, which was deployed to streamline the
subsurface workflows of Northern Lights in 2022.
“In less than three decades, CCS must scale up by 100–200 times
to have the expected impact on global net zero ambitions,” said
Trygve Randen, Senior Vice President of Digital Products and
Solutions, SLB. “Digital solutions have a key role to play in
enabling the necessary speed and scale for CCS, and we are excited
to work closely with Microsoft and the Northern Lights JV to
facilitate the complex digitalization of the CCS value chain.”
Microsoft will deploy and extend its Microsoft Azure platform to
ensure scalable cloud services that support Northern Lights’
business and the SLB digital CCS workflows. SLB and Microsoft are
collaborating on the development of an Azure-compliant open-source
data platform that will serve as the digital infrastructure for
Northern Lights.
“Microsoft is thrilled to partner closely with SLB and Northern
Lights to drive tangible CO2 reductions at scale in 2024 and
beyond. We are confident this lighthouse project can help
accelerate the CCS industry and the digital infrastructure that is
needed to reach global climate goals,” said Sverre Brandsberg Dahl,
Chief Technology Officer, Microsoft Energy and Resources
Industry.
Carbon capture and storage enables the reduction or removal of
CO2 emissions, providing industrial emitters with realistic
decarbonization opportunities. According to the International
Energy Agency (IEA), “reaching net zero will be virtually
impossible without CCUS”.
Northern Lights Joint Venture was established by Equinor,
TotalEnergies and Shell to accelerate the decarbonization of
industry. The development of the transport and storage facilities
is on schedule and Northern Lights will be ready to receive and
store CO2 from industrial emitters in 2024. The first phase
development has a storage capacity of 1.5 million metric tonnes CO2
per year and the company has already entered into commercial
transport and storage agreements with Yara and Ørsted. Northern
Lights has further growth ambitions and aims to expand its storage
capacity according to market development.
About SLB
SLB (NYSE: SLB) is a global technology company that drives
energy innovation for a balanced planet. With a global footprint in
more than 100 countries and employees representing almost twice as
many nationalities, we work each day on innovating oil and gas,
delivering digital at scale, decarbonizing industries, and
developing and scaling new energy systems that accelerate the
energy transition. Find out more at slb.com.
About Northern Lights
Northern Lights is developing the world’s first cross-border CO2
transport and storage infrastructure. On schedule to be ready to
receive CO2 in 2024, Northern Lights offers safe and reliable CO2
transport and storage services to industrial emitters in Europe.
Northern Lights JV DA is a registered, incorporated General
Partnership with Shared Liability (DA) owned by Equinor,
TotalEnergies and Shell. www.norlights.com
Cautionary Statement Regarding Forward-Looking
Statements: This press release contains “forward-looking
statements” within the meaning of the U.S. federal securities laws
— that is, statements about the future, not about past events. Such
statements often contain words such as “expect,” “may,” “can,”
“estimate,” “intend,” “anticipate,” “will,” “potential,”
“projected" and other similar words. Forward-looking statements
address matters that are, to varying degrees, uncertain, such as
forecasts or expectations regarding the deployment of, or
anticipated benefits of, SLB’s new technologies and partnerships;
statements about goals, plans and projections with respect to
sustainability and environmental matters; forecasts or expectations
regarding energy transition and global climate change; and
improvements in operating procedures and technology. These
statements are subject to risks and uncertainties, including, but
not limited to, the inability to achieve net-negative carbon
emissions goals; the inability to recognize intended benefits of
SLB’s strategies, initiatives or partnerships; legislative and
regulatory initiatives addressing environmental concerns, including
initiatives addressing the impact of global climate change; the
timing or receipt of regulatory approvals and permits; and other
risks and uncertainties detailed in SLB’s most recent Forms 10-K,
10-Q and 8-K filed with or furnished to the U.S. Securities and
Exchange Commission. If one or more of these or other risks or
uncertainties materialize (or the consequences of such a
development changes), or should underlying assumptions prove
incorrect, actual outcomes may vary materially from those reflected
in our forward-looking statements. The forward-looking statements
speak only as of the date of this press release, and SLB disclaims
any intention or obligation to update publicly or revise such
statements, whether as a result of new information, future events
or otherwise.
Slb.com/newsroom
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Media Moira Duff – Director of External Communications
SLB Tel: +1 (713) 375-3407 Email: media@slb.com
Investors James R. McDonald – SVP of Investor Relations
& Industry Affairs Joy V. Domingo – Director of Investor
Relations SLB Tel: +1 (713) 375-3535 Email:
investor-relations@slb.com
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