London-listed oilfield services giant Petrofac has struck a provisional deal with UK-based clean energy player Storegga Geotechnologies as part of its strategy to pivot its activities away from oil and gas.

The memorandum of understanding outlines how Petrofac and Storegga aim to collaborate on potential business development and project initiatives in carbon capture, utilisation and storage (CCUS), hydrogen and other low-carbon projects.

Geographically, the initial focus will be on the UK continental shelf and north-west Europe, although the MoU also allows for the two parties to work together internationally.