KUALA LUMPUR: Yinson Holdings Bhd
’s offshore energy solutions and floating production, storage and offloading (FPSO) unit, Yinson Production, has entered into a cooperation agreement with Norway-based Carbon Circle AS to develop carbon capture projects in Europe.
In a joint statement today, both parties said the agreement will focus on developing carbon capture as a service (CCaaS) for industrial emitters in the region.
"The cooperation aims to capture carbon dioxide from chemical and combustion processes for subsequent transport and permanent geological storage, supporting emitters in their decarbonisation journeys while contributing to regional and global sustainability goals,” they said.
They added that the collaboration builds on the execution of the world’s first offshore post-combustion carbon capture unit, installed on Yinson Production’s Agogo FPSO in Angola.
Yinson Production chief technical officer Lars Gunnar Vogt said the partnership is in line with the company’s broader efforts in the carbon capture and storage (CCS) value chain.
"Together, we are pushing boundaries to make carbon reduction scalable, achievable and meaningful for the environment,” he said.
Meanwhile, Carbon Circle chief executive officer Geir Otto Amundsen described Yinson Production as a natural partner in the CCS segment.
"Building on the experience gained from the Agogo CCS project, this cooperation agreement is a milestone, setting the stage for continued partnership and future achievements,” he added. - Bernama
