MHI and Shell sign Memorandum of Understanding to form strategic alliance
Mitsubishi Heavy Industries, Ltd (MHI) and Shell EP International Limited (Shell) today signed a Memorandum of Understanding (MoU) which establishes a strategic alliance to cooperate on business opportunities relating to CO2 capture and recovery in the Middle East region.
Areas of cooperation will include joint feasibility studies on CO2 capture from Flue Gases, as produced from industrial plants. CO2 capture will be linked, where appropriate, to Enhanced Oil Recovery (EOR) projects, based on using CO2 in miscible flood techniques to improve the flow and recovery of oil from developed reservoirs.
The agreement was signed on behalf of MHI, by Mr Kazuhisa Ishikawa, General Manager, Chemical Plant Department, and Mr. Gavin Graham, Vice-President New Business, Middle East, Caspian & South Asia, on behalf of Shell during a signing ceremony in Dubai. Also present at the signing were a number of executives from MHI and Shell.
Mr Ishikawa commented, “A close relationship by forming the strategic alliance between Shell and MHI will furnish an excellent opportunity for both parties to promote jointly large scale of CO2 recovery and CO2-EOR project. We wish to express a deep appreciation to Shell for the selection of MHI with CO2 recovery technology as a partner. We are quite confident that our CO2 recovery technology will surely contribute much toward successful development of potential CO2-EOR planned by Shell.
Mr Graham said: “We very much look forward to working with MHI on CO2 recovery. Shell has been active in the Middle East for over a hundred years and, in looking to further grow our business, we recognise the need to address new challenges faced by the region. Energy efficient CO2 capture and utilisation will underpin Shell’s commitment to the reduction of CO2 emissions around the world, in line with our Sustainable Development policy and the Kyoto Agreement.”
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