Occidental Petroleum
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Oxy’s 1PointFive subsidiary and ADNOC plan to assess the feasibility of building the first megaton-scale DAC facility outside of the US. -
Occidental has been an investor in the Canadian climate solution firm since 2019.
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The projects are expected to remove more than 2 million metric tons of CO2 emissions annually from the atmosphere.
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The two oil producers said they may invest in industrial-scale direct air capture and other decarbonization projects in both the UAE and US.
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The international energy company will use Amazon Web Services to reduce IT infrastructure costs and develop systems for carbon removal plants.
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Oil and gas operators such as Shell and Oxy are now employing AI together with a vast network of sensors and other machine-learning software to stamp out problems before they happen.
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The first direct air capture facility will debut a few months late, but that’s not a big concern for its developer.
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Dealmaking has picked up steam, especially by Oxy. Many of the announced deals by Oxy and others are in Texas and in the Gulf Coast region.
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The authors of this paper present an application of a Bayesian framework for uncertainty assessment and efficient history matching of a Permian CO2 enhanced oil recovery field for reliable production forecast.
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Chevron and Occidental plan to launch separate projects to help secure the commercial future of geothermal development in the US.
