Chevron through its subsidiary, Chevron Australia New Ventures Pty Ltd, has secured a greenhouse gas (GHG) assessment permit offshore Western Australia.
The G-18-AP permit, offshore from Onslow, covers an area of approximately 8,467 km2 with water depths of 50-1100m. The permit area will be evaluated as part of a hub for storing third party emissions, including those from Chevron’s operated LNG assets.
The permit is a joint venture between Chevron, holding 70% operating interests, and Woodside Energy Ltd. holding the remaining 30%.
Chevron has agreed to transfer a 5% stake in the license to Korea’s GS Caltex (GSC), subject to regulatory approvals and other matters.
“Chevron, along with our joint venture participants, have a unique set of assets, capabilities and customer relationships to support the further assessment, development and deployment of carbon capture and storage (CCS) in Australia,” said Chris Powers, vice president of CCUS & Emerging for Chevron New Energies.
“Together with the Chevron-operated Gorgon CCS project, one of the world’s largest integrated facilities, coupled with our existing GHG assessment permits, this new award has potential to expand Chevron’s portfolio of CCS assets in Australia,” he added.
Besides, Mark Hatfield, managing director, Chevron Australia said: “These opportunities have the potential to help us lower the carbon intensity of our own operations as well as provide opportunities to help our customers reduce or offset emissions from their activities.”
Notably, this block award adds to Chevron’s non-operated interests in G-9-AP, G-10-AP and G-11-AP as well as operating Gorgon CCS which has now captured and stored 10 million tons of CO2-equivalent.
