Oil field company, SK Earthon and UK-based independent carbon capture and storage specialist, Azuli, have signed a memorandum of understanding (MoU) for the two companies to work together to identify and develop carbon capture and storage (CCS) enabled solutions globally.
The MoU is the first step in establishing a global partnership between the two companies. SK Earthon and Azuli intend to work together to identify and progress opportunities that could be developed jointly whereby industrial-scale emissions of CO2 could be transported.
The two companies will begin CCS business opportunities in Australia and the United States and then expand to explore opportunities worldwide, including Korea.
Hamish Wilson, CEO of Azuli, says: ‘This move allows us to put real impetus into a new phase of growth…We welcome the opportunity to work with SK Earthon and leverage our combined expertise to develop first-class CCS projects in the range of global locations.’
‘SK Earthon has a new vision to become a private company that leads eco-friendly business linked with the CCS and will contribute to achieving Korea’s CO2 reduction target. Therefore, it is inspiring to cooperate with Azuli and we look forward to working with Azuli on various CCS endeavours around the world,’ adds Roh Jeong-yong, head of SK Earthon E&P tech centre.
