Japan’s Toyo Engineering Corporation and OneSubsea, a joint venture established in 2023 by SLB, Aker Solutions, and Subsea7, have signed a memorandum of understanding (MoU) to explore collaboration opportunities in carbon capture and storage (CCS).
Initially, the partners plan to explore opportunities across a range of subsea CCS projects in Japan and Southeast Asia to address technical challenges associated with subsea CO2 transport, injection and storage.
Under the MoU, the two companies will jointly explore collaboration opportunities and marketing strategies, and integrated and optimized system design.
The collaboration will see the combination of TOYO’s experience in optimizing CCS project development and engineering, including system integration across capture, transportation, and storage interfaces, as well as the design and engineering of onshore facilities, and OneSubsea ‘s experience in subsea technologies, including subsea production and processing systems.