Revolutionizing Carbon Capture: SLB Launches New Tool For Efficient Storage Site Selection

Schlumberger N.V. SLB launched its carbon storage screening and ranking solution that helps site selection based on scientific analysis of an asset's long-term integrity and economic potential.

The solution helps reduce the chances of carbon capture and storage, getting final approval for investment.

"CCUS is one of the most immediate opportunities to reduce emissions, but it must scale up by 100–200 times in less than three decades to have the expected impact on global net zero ambitions," said Frederik Majkut, senior vice president of Carbon Solutions for SLB's New Energy business.

CCUS is integral to the energy transition and industrial decarbonization, especially in hard-to-abate sectors. Because of the processes associated with industries like cement and steel, there is no viable decarbonizing solution without CCUS.

In Trinidad and Tobago, SLB collaborated with a customer to screen and rank potential storage sites, ahead of a scheduled offshore exploration and production and carbon storage licensing round. 

They evaluated sites using 67 criteria from SLB's unique workflow and conducted a sensitivity analysis to gauge the impact of different attributes on site rankings. 

The performance of these sites was then compared to carbon storage basins in the U.S. and Europe.

Also Read: Schlumberger Positioned For Long-Term International Growth As Rig Counts Rise, Says Analyst

Price Action: SLB shares are trading lower by 0.26% to $57.79 on the last check Tuesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.