Aramco, Siemens Energy to sign direct air-capture deal

Matthew Martin, Bloomberg October 09, 2023

(Bloomberg) — Aramco and Siemens Energy AG will sign an agreement Monday to build a pilot project for carbon capture and storage, as the Middle East’s biggest oil producer Saudi Arabia seeks new ways to tackle emissions.

“We believe direct-air capture will work, but needs more innovation and technologies to bring the costs down,” Aramco Chief Executive Officer Amin Nasser said at an event Sunday in the Saudi capital, Riyadh, as he announced the project.

Extracting carbon dioxide from the atmosphere rather than sources of emissions, the direct-air method is the costliest application of carbon capture, according to the International Energy Agency.

Connect with World Oil
Connect with World Oil, the upstream industry's most trusted source of forecast data, industry trends, and insights into operational and technological advances.