Chevron Corp. has acquired a greenhouse gasoline evaluation allow to check the potential for carbon dioxide (CO2) seize and storage (CCS) offshore Onslow, Western Australia.
The G-18-AP allow covers an space of about 8,467 sq. kilometers (3,269.1 miles) within the Northern Carnarvon Basin. Water depths vary from 50 to 1,100 meters (164 to three,608.9 toes). The potential CCS space is close to Chevron’s operated Wheatstone pure gasoline facility. “The allow space shall be evaluated as a part of a hub for storing third-party emissions, together with these from Chevron’s operated LNG belongings”, Chevron mentioned in a press release on its web site.
The allow has been granted to a three way partnership operated by the USA oil big with a 70 % stake. Nevertheless, Chevron mentioned it has agreed to farm down 5 % to South Korea’s GS Caltex Corp., the place Chevron is an investor with 50 % possession. Native participant Woodside Power Group Ltd. holds the remaining 30 % within the greenhouse gasoline evaluation allow.
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“Chevron, together with our three way partnership members, have a novel set of belongings, capabilities and buyer relationships to help the additional evaluation, improvement and deployment of carbon seize and storage in Australia”, mentioned Chris Powers, Chevron vice chairman for CCS.
Chevron already has an working CCS injection system in Australia. On August 8, 2019, Chevron introduced the beginning of operation of the undertaking at its Gorgon gasoline facility on Barrow Island, off the northwest coast of Western Australia. Gorgon CCS has the capability to lure over 100 million metric tons of emissions over the lifetime of the gasoline undertaking. Thus far Gorgon CCS has captured and sequestered 10 million metric tons of CO2-equivalent emissions, based on Chevron.
Chevron additionally holds non-operating stakes in Australian CCS evaluation permits G-9-AP, G-10-AP and G-11-AP.
Chevron says it’s creating CCS tasks as each a enterprise alternative and a way of reaching its objective of internet zero upstream emissions by 2050.
“These alternatives have the potential to assist us decrease the carbon depth of our personal operations in addition to present alternatives to assist our clients cut back or offset emissions from their actions”, Chevron Australia managing director Mark Hatfield mentioned in regards to the new allow.
In Australia Chevron operates the Gorgon and Wheatstone gasoline tasks. Gorgon has a liquefied pure gasoline (LNG) manufacturing capability of 15.6 million metric tons each year (MMtpa) and a home gasoline capability of 300 terajoules per day (tJd). Wheatstone has an export capability of 8.9 MMtpa, whereas its home gasoline capability has just lately been raised to 230 tJd.
The Gorgon three way partnership includes Chevron with a 47.3 % stake, Exxon Mobil Corp. with 25 %, Shell PLC with 25 %, Osaka Gasoline Co. Ltd. with 1.25 %, MidOcean Power LLC with one % and JERA Co. Inc. with 0.417 %.
In Wheatstone, Chevron holds a 64.14 stake. Kuwait Overseas Petroleum Exploration Co. owns 13.4 %, Woodside 13 % and Kyushu Electrical Energy Co. 1.46 %.
Chevron can be an investor within the Woodside-operated North West Shelf gasoline undertaking.
To contact the writer, e-mail jov.onsat@rigzone.com
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