Energy services giant SLB reported a significant financial loss on a specific carbon capture and storage (CCS) project within its SLB Capturi joint venture, highlighting challenges in the emerging CCS sector. The company incurred a $210 million goodwill impairment charge related to SLB Capturi in its fourth-quarter results, though the specific project responsible for the loss was not disclosed.

About SLB Capturi

SLB Capturi is a dedicated carbon capture company formed as a joint venture between SLB, which holds an 80% stake, and Aker Carbon Capture, which holds a 20% stake. The company provides solutions, services, and technologies targeting hard-to-abate industries such as cement, waste-to-energy, gas-to-power, and biogenic emissions.

Ongoing CCS Projects

Despite the reported loss, SLB Capturi is actively involved in several major CCS projects globally. These include:

• Delivering five modular Just Catch carbon capture plants for Ørsted’s bioenergy facilities in Kalundborg, Denmark, with a capacity to capture up to 500,000 tonnes of CO2 per annum.
• Completing the world’s first full-scale carbon capture plant at a cement facility in Brevik, Norway, for Heidelberg Materials, enabling net-zero cement production by capturing up to 400,000 tonnes of CO2 annually.
• Providing a carbon capture solution at Hafslund Celsio’s waste-to-energy facility in Norway, with a capacity of 350,000 tonnes of CO2 per annum.
• Delivering a carbon capture plant at Twence’s waste-to-energy facility in Hengelo, Netherlands, with a capture capacity of 100,000 tonnes of CO2 per annum.