Aker Carbon Capture plans strategy decision as Schlumberger joint venture progresses

marketwatch.com October 31, 2024, 03:01 PM UTC

Aker Carbon Capture is working on its future strategy and structure following its joint venture with Schlumberger. A decision is expected by the first quarter of 2025.

The joint venture, finalized in the second quarter, resulted in a gain of 4.89 billion Norwegian kroner ($446 million) for Aker. Schlumberger now owns 80% of Aker Carbon Capture.

In the third quarter, Aker reported a net loss of 46.6 million kroner, up from a loss of 39.8 million kroner a year earlier. The company has 4.55 billion kroner in cash.

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