Carbon capture and storage
The test marks a milestone in the Poseidon CCS project, which aims to store carbon dioxide in the depleted gas reservoir below the Leman development in the southern North Sea.
The storage permits, the first of their kind, allow the Stratos facility to move forward with plans to capture and store up to 500,000 tonnes of carbon dioxide per year.
The first phase of the Norwegian project is expected to receive its first carbon dioxide this year, with the second phase slated to start operations in late 2028.
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The international supermajor is looking to make Houston and the US Gulf Coast a major hub for carbon capture and sequestration. A recent peer-reviewed SPE paper offers insights on the type of formation the company may target if the project takes shape. -
The carbon tax endorsement was just one part of a broader plan the group said will be required to combat climate change.
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The duo also plan to develop and mature new technologies across the carbon-capture value chain.
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Occidental Petroleum’s CEO Vicki Hollub said she plans to transform her oil and gas business into a carbon management company and to break ground next year on a direct air capture facility that will suck carbon dioxide out of the atmosphere in the Permian Basin, the country’s most prolific oil field.
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A new white paper reports that Houston is better poised than anywhere else in the US to play a far more significant role in reducing emissions from industrial sources.
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Chevron is partnering with Microsoft, oilfield services firm Schlumberger, and privately held Clean Energy Systems to build a carbon capture plant in California, as the US oil major expands investments in renewable technology.
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The Biden administration wants green investment, jobs to stay stateside in emerging $23-trillion global market.
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The group of three companies says it is looking to provide solutions for a more alternative-energy-driven landscape.
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Carbon capture, utilization, and storage can play a role in attaining net zero emissions, helping the planet achieve climate goals, and increase oil and gas production at the same time.
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There is little question that carbon capture, storage, and utilization is destined to become one of America’s big growth industries in the years to come.
