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CNOOC, Shell and ExxonMobil sign Memorandum of Understanding to evaluate the potential for 10-million-ton CCUS project

Author : PCEC

27 July 2022

On June 27, CNOOC, Guangdong Provincial Development and Reform Commission, Shell and ExxonMobil jointly signed the Daya Bay Area CCUS Cluster Research Project Memorandum of Understanding to evaluate the potential for China's first large-scale CCS/CCUS cluster research project at sea.

Wang Dongjin, Chairman of CNOOC, Zhang Hu, Executive Vice Governor of Guangdong Province, Ben van Beurden, CEO of Shell Group, and Darren Woods, Chairman and CEO of ExxonMobil, delivered speeches during an online signing ceremony.

Zhang Hu said in his speech that CCUS, as the key core technology to achieve carbon neutrality, is the key support direction for Guangdong's green and low-carbon technological innovation and the layout of low-carbon, zero-carbon and negative-carbon industries. The introduction of international advanced technology and mature experience into Guangdong will help cultivate new momentum for green development and help Guangdong Province achieve its carbon goals.

Wang Dongjin said in his speech that CNOOC has researched and compiled a “Carbon Peak and Carbon Neutral” action plan, and put forward the company's overall goal of "carbon peaking in 2028 and carbon neutrality in 2050", and through the implementation of offshore and onshore power projects, the development of new energy industry and other measures to accelerate the promotion of green and low-carbon transformation.

CNOOC will offer its resources and technological advantages, form a demonstration effect of large-scale "carbon emission reduction", contribute positively to the "greening" process of the Greater Bay Area, and inject new momentum into the accelerated green development of the Guangdong-Hong Kong-Macao Greater Bay Area.

The offshore large-scale CCS/CCUS cluster research project in the Daya Bay Area will provide rich engineering experience and technical data for large-scale CCS/CCUS project construction in China. By building CCS/CCUS full chain demonstration bases and benchmarking projects, it will provide an important driving force for promoting the construction of China's CCS/CCUS full industry chain technology system and the rapid growth of industrial capabilities.

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