SK Earthon Strengthens Technological Capabilities and ESG Through Collaboration with Small and Medium Enterprises

SK Earthon-AAT,
Agreement to Strengthen Oil Development and CCS Technology Capabilities
Exchange and Development of Technologies Held by Each Company and CCS Project Storage
Long-term Collaboration in Monitoring Areas

Meaningful Win-Win Perspective Between Large Corporations and Technology SMEs
Contributing to the Creation of an Eco-Friendly Industrial Ecosystem
SK Earthon "Will Continue to Discover and Collaborate with Domestic Technology SMEs
to Strengthen the Overseas Resource Development Ecosystem"

Lee Chang-sik, CEO of AAT (left), and Han Young-joo, Head of SK Earthon Tech Center, are taking a commemorative photo after the business agreement ceremony at the SK Seorin Building in Jongno-gu, Seoul, on the 20th.

[Asia Economy Reporter Donghoon Jung] SK Earth On is simultaneously strengthening its technological capabilities in oil development and carbon capture and storage (CCS) and promoting ESG management based on cooperation with domestic technology-driven small and medium enterprises.

SK Earth On and marine exploration specialist AAT Co., Ltd. announced on the 20th that they have signed a business agreement to enhance technological capabilities in oil development and CCS. CCS refers to the overall process of capturing carbon dioxide, transporting it, and injecting it into underground storage sites. It involves the stages of carbon dioxide capture, pre-treatment, transportation, and storage.

According to this agreement, SK Earth On and AAT plan to exchange and develop their respective oil development and CCS technologies and continue long-term collaboration in the storage and monitoring phases of the CCS process.

The two companies expect to improve resource exploration accuracy by combining SK Earth On’s overseas oil development infrastructure and offshore exploration and drilling capabilities with AAT’s 'OBS (Ocean Bottom Seismometer)' technology. If technological cooperation expands to the CCS business sector in the future, OBS technology is also expected to be utilized for monitoring potential leaks of stored carbon dioxide. The ocean bottom seismometer is an exploration device that allows observation of the seabed without entering the water, detecting waves reflected or refracted on the seabed to analyze underground geological structures.

This agreement holds significant meaning from the perspective of win-win cooperation between large domestic corporations and technology-driven small and medium enterprises. In particular, it is meaningful in that it opens the way for joint cooperation in the CCS field and contributes to the creation of a domestic eco-friendly industrial ecosystem.

Since September last year, SK Earth On has been actively promoting ESG management from the perspective of environmental friendliness and corporate social responsibility by seeking to establish cooperative relationships with domestic technology-driven small and medium enterprises possessing technologies related to oil development, CCS, and artificial intelligence (AI).

Meanwhile, AAT, established in 2004, conducts comprehensive marine surveys and research using advanced underwater acoustic technologies and equipment. It is the only domestic company with proprietary OBS technology and is a representative technology-driven small and medium enterprise with experience participating in offshore carbon dioxide storage demonstration projects using this technology.

Han Young-joo, Head of SK Earth On Tech Center, stated, "SK Earth On will continue to discover and collaborate with domestic technology-driven small and medium enterprises possessing core technologies related to oil development and CCS, seeking various business opportunities to execute the 'From Carbon to Green' financial story while continuously strengthening the overseas resource development ecosystem."

This content was produced with the assistance of AI translation services.