Wood Group is completing the first phase of work on the world’s largest carbon capture system

The John Wood Group has completed the first phase of engineering work on what is expected to be the world’s largest carbon capture and sequestration centre.

The oilfield services business is the main contractor for Aramco’s Accelerated Carbon Capture and Sequestration (ACCS) project near Jubail, Saudi Arabia.

It designed the greenfield dehydration, the compression plant and the main pipeline network, which includes more than 200 kilometers of carbon dioxide gas pipeline.

Big deal: John Wood Group is prime contractor for Aramco’s Accelerated Carbon Capture and Sequestration (ACCS) project near Jubail, Saudi Arabia

By 2027, Aramaco wants the pipeline to transport 9 million tonnes of emissions per year from its gas-fired plant facilities and from third parties, before sequestering them in geological storage on land.

The state-owned energy giant, one of the most valuable publicly traded companies, aims to store up to 14 million tons of CO2 equivalent per year by 2035.

Craig Shanaghey, executive president of Wood’s Projects, said: ‘We are proud to be at the forefront of designing the future of energy and are using our 20 years of experience in carbon capture engineering to bring the ACCS project to life.’

He added: «It is investments such as this world-leading project that can support this progress and make a tangible difference in reducing the carbon emissions of heavy industry.»

Wood Group’s announcement comes days after it agreed to takeover talks with Dubai-based engineering firm Sidara.

The company received an offer worth about £1.6 billion from Sidara after rejecting three previous takeover bids as too low.

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Based on shareholder feedback, Wood Group decided to engage with Sidara to see if a specific offer could be «made on the same financial terms» as the last proposal.

He added: “There is no certainty that an offer will be made. Further announcements will be made as appropriate.”

Based in Aberdeen, Wood Group employs more than 35,000 people in 60 countries providing consultancy and engineering services to the energy and materials sector.

In its latest full-year results, the firm said it bounced back to an operating profit of $38 million thanks to the absence of impairment charges and total revenue that rose 8.7 percent to $5.9 billion.

Wood Group shares were 0.3 percent higher at 198.2 pa late on Monday, up about 48 percent over the past year.

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