A joint venture, led by Chevron (NYSE: CVX) in partnership with Shell (LON: SHEL) and ExxonMobil (NYSE: XOM), has secured a carbon storage exploration permit in the Northern Carnarvon Basin offshore Western Australia, adjacent to Barrow Island, home of the giant Gorgon LNG terminal.
The greenhouse gas assessment permit G-20-AP, which spans 858 sq mi (2,222 sq km) with water depths ranging from 82 to 410 ft (25 to 125 m), is operated by Chevron Australia New Ventures, along with joint venture partners Shell Australia and Mobil Australia Resources.
The joint venture will now evaluate the technical and commercial feasibility of geological carbon dioxide (CO2) storage within the permit area.
The permit area will also be evaluated as part of a storage hub for third-party emissions, including those from Chevron’s operated liquefied natural gas (LNG) assets.
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David Fallon, Chevron Australia’s energy transition general manager, expressed optimism about the collaboration: “Carbon capture and storage is an important tool, and this permit award demonstrates the potential to lower the carbon intensity of our operations as well as potentially third-party emissions.”
This initiative complements Chevron’s broader efforts in advancing carbon capture, utilization, and storage (CCUS) technologies, pivotal for achieving net-zero emissions.
In August 2024, Chevron and its partner Woodside (ASX: WDS) secured the G-18-AP permit offshore from Onslow, Western Australia, near the Wheatstone LNG plant.
These developments add to Chevron’s existing portfolio, including the Gorgon CCS project, one of the world’s largest integrated facilities for CO2 storage.
Read more: Chevron Secures New Carbon Capture Assessment Permit Offshore Western Australia
