Saudi Aramco starts carbon capture, storage project with capacity of 7 mln tons annually: official

Logo of Saudi Aramco

Saudi Aramco started drawing up engineering and design plans for carbon capture and storage project, with a capacity of 7 million tons per annum (MTPA) of carbon dioxide sequestered from its operations, Al Arabiya TV reported, citing Ahmad Al Sa'adi, Senior Vice President of Technical Services.

He added that Saudi Aramco aims to reach net zero in less than three decades, which is a pivotal decision, indicating that this decision was taken after discussions for nearly 18 months.

The giant oil's strategy was carefully developed, and it has several basic tools to achieve it.

"The main tool will be carbon capture and exploitation technology. This technology has the capacity to sequester enormous amount of carbon dioxide, given the size of our business," Al Sa'adi said.

He indicated that Saudi Aramco’s work goes beyond engineering. “As we have begun to consider, with the government, the carbon price and incentives needed to ensure this file achieves the expected economic returns. We are trying to approach this file from an innovative point of view."

The company will not implement this project alone, but will attract investors, to collaborate with them to build carbon capture and storage capacity as a service provided, not only to Saudi Aramco, but to the entire industrial sector in Saudi Arabia.

"We aim to serve the Kingdom, in light of the large size of the local industrial sector,” the top official concluded.