Chevron : The hunt is on for carbon storage potential in Australia
December 07, 2022 at 01:52 pm EST
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emissions solutionsthe hunt is on for carbon storage potential in Australia
2 min read | december 07, 2022
With the Australian government's approval, Chevron and fellow members of three joint ventures are looking into the possibility of storing carbon dioxide (CO2) in areas off the country's northwest coast. Combined, the areas cover nearly 7.8 million acres.
why it matters
Finding storage that keeps CO2 permanently isolated is a crucial part of helping to lower our carbon intensity. Chevron actively pursues storage potential for this greenhouse gas to help mitigate the effects of climate change.
where we're exploring
The areas of potential opportunity sit offshore northwestern Australia in the Carnarvon Basin and off the northern coast in the Bonaparte Basin.
Chevron is already nearby. We operate Gorgon, one of the world's largest carbon capture and storage projects, off the northwest coast of Australia. The Gorgon Project has captured and stored more than 7 million tonnes of CO2 since August 2019.
We also operate the Wheatstone Project, which produces natural gas, in the same region.
"We bring a technical skill set, and we bring a broad understanding of the rocks in the basin. We've been active in the Carnarvon Basin for decades."
patrick beashel
senior commercial advisor
dive deep
Carbon capture and storage can be an important strategy for energy-intensive businesses that wish to lower the carbon intensity of their operations. These include ethanol and fertilizer production, natural gas processing and hydrogen refining. As a company with extensive experience injecting CO2 safely underground, we use our knowledge and expertise to help others in our industry. We can help in areas where it's hard to abate carbon emissions-such as liquefied natural gas, refining, petrochemicals, power, steel and cement. Sharing what we know and learn has the potential to help lower the carbon intensity of our own operations as well as the operations of others.
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Chevron Corporation published this content on 07 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 December 2022 18:51:02 UTC.
Chevron Corporation is one of the world leading oil and gas groups. Net sales break down by activity as follows:
- refining and distribution (73.1%): at the end of 2022, owned 8 refineries (2.6 million barrels of products sold per day) and a network of 13,800 service stations under the brands Chevron, Texaco, and Caltex throughout the world. The group is also involved in oil and natural gas transportation and production of petrochemical and plastic products;
- exploration and production of oil and natural gas (26.8%): 1.2 million barrels of crude oil, 0.3 million barrels of liquefied natural gas, and 199.6 million m3 of natural gas produced per day in 2022;
- other (0.1%): primarily electricity production.
54.5% of net sales are abroad.
CHEVRON CORPORATION 
