Saudi Arabia's oil giant Aramco, along with global oilfield services leader SLB (formerly Schlumberger) and industrial gases company Linde, have announced a collaboration to develop a large-scale carbon capture and storage (CCS) project in Jubail, Saudi Arabia. Under the agreement, Aramco will hold a controlling 60% stake, while SLB and Linde will each have a 20% share in the project.

The first phase of the CCS project is scheduled for completion by the end of 2027, with the goal of capturing and storing up to 9 million metric tons of carbon dioxide (CO2) annually. The captured CO2 will be transported via pipelines and stored underground in a saline aquifer, significantly reducing emissions from industrial activities in the region.

This ambitious initiative is part of Aramco's broader strategy to reach net-zero emissions from its operations by 2050, contributing to Saudi Arabia's national goal of achieving net-zero emissions by 2060. The agreement builds on a preliminary partnership announced in November 2022, marking a major step toward sustainability in the oil and gas sector.