Month: January 2025

SLB (NYSE: SLB) today announced that SLB Capturi, in collaboration with Aker Solutions, has been awarded an engineering, procurement, construction, installation and commissioning (EPCIC) contract from Hafslund Celsio AS to deliver a carbon capture solution at its waste-to-energy facility in Klemetsrud, Oslo. Hafslund Celsio is Norway’s largest district heating supplier and the owner and operator of Norway’s largest waste-to-energy plant. Hafslund Celsio’s carbon capture project is part of Longship, the Norwegian Government’s full value-chain carbon capture and storage (CCS) project.

The contract award includes delivery of a carbon capture plant, liquefaction system, temporary storage, and a loading facility at the waste incineration site. It also includes an intermediate CO2 storage and ship loading system at Oslo harbor, from where the CO2 will be transported to the Northern Lights permanent storage facility on the Norwegian continental shelf. When operational, the carbon capture plant is expected to capture 350,000 metric tons of CO2 annually.

The EPCIC award follows a cost reduction phase for Hafslund Celsio’s project, which identified opportunities for efficiencies, including layout optimization. The project will now be delivered based on SLB Capturi’s modularized Just Catch™ 400 unit. The space-efficient Just Catch design has been fundamental to enabling a viable, cost-effective solution by reducing onsite footprint, installation, and outfitting work.

“Standardization and modularization play a key role in shifting the economics of carbon capture projects,” said Egil Fagerland, chief executive officer, SLB Capturi. “We are extremely proud of our collaboration with Hafslund Celsio and Aker Solutions to align our Just Catch plant design with the techno-economic requirements of this project to help make it a reality. We look forward to delivering this flagship project as a successful blueprint for industrial decarbonization projects in Norway and across the globe.”

Hafslund Celsio’s project is the second carbon capture plant in Longship, where SLB Capturi is already delivering the carbon capture plant at Heidelberg Materials’ cement facility in Brevik in collaboration with Aker Solutions.

“Today marks a significant milestone for Aker Solutions and the CCS industry in Norway. We are proud to be part of this key project and look forward to contributing with our effective project execution, based on three decades of experience in the CCS market. This project is a testament to important public and private collaboration to build an industrial value chain for carbon capture and storage. The project will also significantly contribute to reducing emissions and will create value for both industry and society,” said Kjetel Digre, CEO for Aker Solutions. 

“We are pleased to have Aker Solutions and SLB Capturi collaborating with us on this significant industrial project,” stated Martin S. Lundby, chief executive officer at Hafslund Celsio. “Working with reputable partners who possess extensive experience in carbon capture and storage from the Longship project provides us with security and strength. Our partners bring valuable expertise from large industrial developments both in Norway and internationally. Together, we will construct a carbon capture solution that is expected to be operational by third quarter 2029.”

About SLB 
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About SLB Capturi 
SLB Capturi is a joint venture between SLB and Aker Carbon Capture, dedicated to carbon removal and reduction solutions. The company’s proven modular technologies enable industries to deploy capture technology at speed and scale, meeting the requirements of tomorrow and the opportunities of today. The company is currently delivering seven carbon capture plants to bioenergy, waste to energy, and cement facilities. Find out more at capturi.slb.com

About Aker Solutions 
Aker Solutions delivers integrated solutions, products and services to the global energy industry. The company enables low-carbon oil and gas production and develops renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution Aker Solutions aims to accelerate the transition to sustainable energy production. Find out more at akersolutions.com

About Hafslund Celsio 
Hafslund Celsio AS is the largest producer and supplier of district heating in Norway and supplied 25 % of the district heating generated in Norway in 2023. In 2024, the company produced 1.9 TWh of district heating. Hafslund Celsio’s waste-to-energy plant at Klemetsrud, Oslo, is Norway’s largest with a capacity to end-treat 350,000 tonnes of waste per year. The company is also expanding its activities to district cooling. The company employs approximately 232 people. Hafslund Celsio is owned by a Norwegian investor consortium comprising Hafslund (60%), Infranode (20%) and HitecVision (20%).

Media 
Josh Byerly – SVP of Communications 
Moira Duff – Director of External Communications 
SLB 
Tel: +1 (713) 375-3407 
Email: media@slb.com

Hanne Rolén – Head of Sustainability & Communications 
SLB Capturi 
Tel: +47 990 02 571 
Email: Hrolen@capturi.slb.com

Investors 
James R. McDonald – SVP of Investor Relations & Industry Affairs 
Joy V. Domingo – Director of Investor Relations 
SLB 
Tel: +1 (713) 375-3535 
Email: investor-relations@slb.com

Cautionary Statement Regarding Forward-Looking Statements 
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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During December’s Season of Giving, CUNY learners and professionals came together for two virtual mentorship sessions hosted by Paramount and The City Tutors. Supported by Paramount’s senior leadership, including Naveen Chopra, EVP, Chief Financial Officer, Paramount Global, and their Corporate Social Responsibility (CSR) team, the event showcased a commitment to fostering meaningful connections and elevating NYC’s diverse talent in media, tech, and finance.

Nearly 130 participants joined during finals season and the busy holiday period. For many learners, it was a rare opportunity to engage directly with professionals at Paramount—people who actively shape the media giant. The event exemplified Paramount’s dedication to creating opportunities for professionals to give back while building bridges for learners into industries that have long felt out of reach.

A Partnership Built Over Four Years

City Tutors and Paramount have worked together for four years, creating pathways into careers in marketing, HR, tech, finance, media, and more. This partnership has grown increasingly impactful by involving specific teams and engaging senior leadership to make these sessions deeply meaningful.

Naveen Chopra’s participation alongside his team reflected Paramount’s understanding of the importance of marshalling resources to support nonprofits doing impactful groundwork—not just through manpower but by fully integrating their organization. Naveen shared: “Every time our Finance and Technology teams work with The City Tutors, it is a privilege for all of us. There are so many avenues you can take in media, so our goal is always to help students leave mentoring sessions with new ideas about professional paths they may not have known existed and give insight into how to jump start their own careers. I am continually impressed by the informed questions and viewpoints students bring to the table”.

Adam Robinson, VP of Global Social Impact, shared: “Partnerships are central to Paramount’s strategy for driving change in communities. By collaborating with local organizations like City Tutors, which identified a clear community need for more

“entertainment-based” mentors, we create meaningful opportunities for engagement on both sides of the value exchange. This collaboration allows Paramount employees—many from New York City—to mentor CUNY students, helping to empower the next generation of storytellers and beyond.”

Learners Reflect on the Experience

For CUNY students, who are often navigating careers without traditional pipelines, the event offered a critical opportunity to access mentorship and professional guidance. One participant shared: “This event gave me access to professionals I wouldn’t have met otherwise. Hearing directly from people in tech and media helped me see how my skills can transfer and where I need to grow. It’s inspired me to take the next steps in my career.”

Mentors on the Power of Mentorship

Paramount mentors offered a wide range of insights during breakout sessions. Key takeaways included the importance of building transferable skills, adapting to career pivots, and leveraging resilience in job searching.

“Many students feel overlooked because they’re not coming from traditional ‘target schools.’ But attending events like this shows they have the drive and ambition to succeed—they are [qualified candidates]. It’s only a matter of time before they achieve their goals. [I noted to the students] ‘Don’t focus on companies prioritizing certain schools; focus on what you bring to the table and the opportunities ahead.’” –Oliver Delgado, Senior Director, Global Strategic Sourcing, Paramount.

Building Pathways to Careers

By partnering with nonprofits like The City Tutors, Paramount isn’t just providing mentorship; they’re helping build a more inclusive workforce that reflects the diverse fabric of NYC. Each mentorship event adds to a growing pipeline of opportunities, where learners can connect, grow, and envision careers they may not have thought possible.

As The City Tutors Executive Director, Garri Rivkin, shared: “What stands out about Paramount is their intentionality. They don’t just host events; they bring in leaders who can truly make a difference, offering learners actionable guidance and a real window into the industry. This is how you build meaningful access and lasting impact.”

Paramount’s efforts continue to elevate NYC’s diverse talent while creating a positive ripple effect across the industry. By fostering connections that drive career growth, this partnership sets the standard for what meaningful corporate social responsibility can achieve.