DUBAI, Dec 4 (Reuters) - Saudi oil giant Aramco, top

oilfield services company SLB and Linde ( LIN ), the world's largest

industrial gases company, have signed an agreement to build a

carbon capture and storage project in Jubail, Saudi Arabia.

Aramco will own 60% of the project while SLB

and Linde ( LIN ) will hold 20% each, the companies

said in a joint statement on Wednesday.

The first phase is expected to be complete by the end of

2027, capturing and storing up to 9 million metric tons of

carbon dioxide a year.

The project is intended to help Aramco to reach its target

of net zero emissions from its operations by 2050. Saudi Arabia

has a net zero target of 2060.

Captured carbon dioxide will be transported through

pipelines to be stored below ground in a saline aquifer sink.

The three companies had signed a preliminary agreement on

the project in November 2022.

(Writing by Yousef Saba

Editing by David Goodman)