-- OneSubsea and Toyo Engineering are exploring carbon capture projects in Southeast Asia, signaling rising investment in CCS, Oil Cyprus said Wednesday.
The partnership will focus on identifying and developing carbon capture and storage opportunities across the region, targeting emissions reduction from existing and future energy operations.
Toyo Engineering will contribute its expertise in engineering, procurement, and construction, supporting project development and infrastructure deployment for CCS initiatives, Oil Cyprus added.
The collaboration is expected to accelerate the adoption of carbon capture technologies across Southeast Asia's oil and gas industry, where decarbonization efforts are gaining momentum.
It may also encourage further investment in CCS infrastructure, helping reduce emissions while supporting continued energy production in the region, the report added.
The move highlights the growing role of CCS in helping energy companies meet climate targets while maintaining long-term operational and revenue sustainability.
OneSubsea was established in 2023 as a joint venture backed by SLB.