Aker Carbon Capture

Environmental & Social Information • Jun 14, 2024

SLB and Aker Carbon Capture Announce Closing of Carbon Capture Joint Venture

SLB and Aker Carbon Capture Announce Closing of Carbon Capture Joint Venture

The joint venture will enable wider adoption of market-ready and new carbon

capture technologies for power and hard-to-abate industrial sectors worldwide.

HOUSTON and OSLO, June 14, 2024-SLB (NYSE: SLB) and Aker Carbon Capture (ACC)

announced today the closing of their previously announced joint

venture (https://akercarboncapture.com/?cision_id=DB4E7DA6FBE9D754). The new

company combines technology portfolios, expertise and operations platforms to

support accelerated carbon capture adoption for industrial decarbonization at

scale.

"There is no credible pathway toward net zero without deploying carbon capture

and sequestration (CCS) at scale," said Gavin Rennick, president of SLB's New

Energy business. "In the next few decades, many industries that are crucial to

our modern world must rapidly adopt CCS to decarbonize. Through the joint

venture, we are excited to accelerate disruptive carbon capture technologies

globally."

The new company will combine ACC's amine-based Advanced Carbon CaptureT

technologies, including Just CatchT and Big CatchT modular plant technologies

for medium- and large-scale facilities, and Just Catch OffshoreT for offshore

gas turbines, with SLB's portfolio of technology solutions, including non

-aqueous solvent and emerging sorbent-based offerings. The company currently has

seven technology installations in progress that have the capacity to capture up

to 1 million tonnes of CO2 emissions per year.

"There is no business as usual in the push toward net zero-we will accelerate

decarbonization today and commercialize innovative technologies for the future,"

said Egil Fagerland, newly appointed Chief Executive Officer of the SLB-Aker

Carbon Capture joint venture. "We are proud of the carbon capture plants we are

delivering across various industries, with each customer being an important

front-runner in its segment. Successful project deliveries are paving the way

for other emitters to follow," continued Fagerland.

The new company will be headquartered in Oslo. SLB owns 80% of the new company

while ACC ASA owns the remaining 20% stake.

ENDS

Media contacts:

ACC ASA: Stian Andreassen, mob: +47 458 36 358, email:

stian.andreassen@akerhorizons.com

SLB: Moira Duff, mob: +1 (713) 375-3407, email: media@slb.com

JV: Hanne Rolén, mob: +47 990 02 571, email: hanne.rolen@akercarboncapture.com

Investor contacts:

ACC ASA: David Phillips, mob: +44 7710 568279, email:

david.phillips@akercarboncapture.com

SLB: James R. McDonald and Joy V. Domingo, mob: +1 (713) 375-3535 , email:

investor-relations@slb.com

Aker Carbon Capture is a pure-play carbon capture company with solutions,

services and technologies serving a range of industries with carbon emissions,

including the cement, bio and waste-to-energy, gas-to-power and blue hydrogen

segments. Aker Carbon Capture's proprietary, carbon-capture technology offers a

unique, environmentally friendly solution for removing CO\2\ emissions.

Visit akercarboncapture.com (https://www.akercarboncapture.com/) and connect

with us on LinkedIn (https://www.linkedin.com/company/aker-carbon

-capture), Facebook (https://facebook.com/akercarboncapture),

Twitter (https://twitter.com/akercarbon),

Instagram (https://www.instagram.com/akercarboncapture/) and

YouTube (https://www.youtube.com/channel/UCqE71jAZxmM-CNhfUQq86kQ). This press

release may include forward-looking information or statements and is subject to

our disclaimer, see akercarboncapture.com (https://www.akercarboncapture.com/).

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.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation, and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Katja Aanestad, Marketing

Communications, Aker Carbon Capture on 14 June, 2024 at CEST 12:25.