Chevron allocates $26 million for Australian CCS research projects
Chevron Australia, an affiliate of US-based energy giant Chevron, has committed a combined A$38 million (around US$26.5 million) to contribute to carbon capture and storage (CCS) research projects in Western Australia and Victoria.
The contribution aims to advance knowledge of the critical emissions technology for a lower-carbon future and comes as the Australian Petroleum Production & Exploration Association (APPEA) is calling on the Federal Government to consider adding investment in new gas supply and emissions reduction measures in the 2023-24 Federal Budget, as well as to set up a national carbon capture utilisation and storage (CCUS) roadmap.
Of the total contribution, A$22 million (US$15.38 million) has been committed to the Barrow Dampier CCS Regional Study, which is led by global technology company SLB, and supports a 3D seismic and storage assessment to identify new CCS opportunities in the Carnarvon basin, offshore Western Australia.
The remaining A$16 million (US$11.18 million) will be dedicated to supporting the development of new infrastructure at the Otway International Test Centre in Victoria. The project, which is managed by Australian carbon capture and storage research organisation, CO2CRC, will enable the testing of carbon dioxide migration and validation of new modelling techniques that could improve storage processes in future CCS projects.
Chevron Australia’s General Manager of Asset Development Michelle LaPoint said the company was committed to advancing the deployment of CCS technology in Australia.
“Chevron has decades of operational experience, a proven track record of carbon-capture projects and is already deploying CCS technologies in locations across the globe, including at Gorgon in Western Australia, one of the world’s largest integrated CCS projects”, LaPoint said.
“Our experience continues to reaffirm our confidence in the emissions reduction opportunities of CCS and we’re proud to support SLB and CO2CRC in projects that will advance research into this critical technology.”
When completed, the two projects are expected to satisfy Chevron’s expenditure commitments under a Good Standing Agreement entered into by Chevron Australia Pty Ltd and the Joint Authority for the Commonwealth/South Australia offshore area with respect to Exploration Permits EPP44 and EPP45 in the Great Australian Bight.