Independent energy company Denbury has joined forces with Houston-based Mitsui E&P USA LLC (MEPUSA) to explore the potential carbon capture, utilization and storage (CCUS) opportunities along the US Gulf Coast.
MEPUSA has a series of potential CCUS projects located on the Gulf Coast and the company intends to use this new partnership as a means to further develop those projects and its CCUS ‘value chain’ in the United States as a whole.
On a larger scale, the oil and gas exploration and production company wishes to contribute to achieving net-zero carbon emission goals and help form a sustainable society through the development of many such CCUS projects around the world.
And as for the partnership with Denbury, MEPUSA has stated it will be willing to come up with further collaboration opportunities in the future, on an international level.
Denbury, on the other hand, is an independent energy company that specializes in CO2 enhanced oil recovery and has a strong focus on the CCUS industry.
So much so, that many of the company’s key principal’s revolve around the use of industrial-sourced CO2 and expanding its CO2 infrastructure.
These factors are largely what have made Denbury the ideal partner of choice for MEPUSA. And yet another is the fact that a large portion of Denbury’s operations are also located along the US Gulf Coast.
Therefore, both sides will also evaluate the potential opportunities to use CCUS technology for the development of carbon-negative oil assets.
The US Gulf Coast is drawing much attention from other energy companies, as well, such as Talos Energy, who is also exploring carbon capture and storage (CCS) opportunities in the region together with other partners.