SLB Secures Carbon Storage Contract From NEP For North Sea Project

(RTTNews) - Schlumberger Ltd. (SLB), an energy technology company, on Tuesday announced that it has secured a technologies and services contract from the Northern Endurance Partnership for carbon storage site development in the North Sea.

The infrastructure will transport and permanently store up to an initial 4 million metric tons of CO2 per year with start-up expected in 2028.

The contract includes drilling, measurement, cementing, fluids, completions, wireline, and pumping services.

SLB will use its Sequestri carbon storage solutions portfolio featuring technologies designed for carbon storage site development to build six carbon storage wells.

NEP is a joint venture formed by bp, Equinor, and TotalEnergies. It is developing both onshore and offshore infrastructure to transport CO2 from carbon capture projects in Teesside and the Humber, together called the East Coast Cluster, for permanent storage under the North Sea.

Schlumberger is 0.34% higher at $33.66 on the New York Stock Exchange.