Chevron Australia will commit AUD 38 million (USD 26.3 million) to CO2 capture and storage research in Western Australia and Victoria. The investment aims to advance knowledge in the technology and contribute to a lower carbon future.
AUD 22 million (USD 15.2 million) of the total investment will go toward the SLB-led Barrow Dampier CCS Regional Study, which aims to provide a three-dimensional seismic and storage assessment to find new carbon capture and storage opportunities in Western Australia’s Carnarvon basin.
Chevron Australia will also contribute AUD 16 million (USD 11 million) for the development of new infrastructure at the Otway International Test Centre in Victoria. The project, led by the Australian carbon capture and storage research organization CO2CRC, will allow for the testing of CO2 migration and validation of new modeling techniques for better storage processes.
Michelle LaPoint, Chevron Australia’s general manager of asset development, said the company is committed to advancing carbon capture and storage technology in Australia.
With decades of operational experience, Chevron has a proven track record of CO2 capture projects and technologies globally, including at Gorgon in Western Australia, LaPoint also 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,” she also said.
“The funding provided by Chevron, a Foundation Member of CO2CRC, ensures that The Otway International Test Centre remains as a critical national research infrastructure for applied research into CCS, an essential low emission technology that will support Australia’s energy transition towards net zero,” said Dr Matthias Raab, CEO of CO2CRC.
Upon completion, the two projects will satisfy Chevron’s expenditure commitments under a Good Standing Agreement between Chevron Australia and the Joint Authority for the Commonwealth/South Australia offshore area for two exploration permits in the Great Australian Bight.