Chevron Australia will invest a total of US$26 million to bolster carbon capture and storage (CCS) research in Western Australia and Victoria. The investment of the US-based energy giant seeks to advance knowledge in CCS technology to promote a lower carbon future.
The commitment comes as the Australian Petroleum Production & Exploration Association (APPEA) calls on the Federal Government to consider more funding in new gas supply and emissions reduction measures in the 2023-24 Federal Budget. The group also calls for setting up a national carbon capture and storage roadmap.
The funding commitment will be spread across two projects. US$15 million will go to the Barrow Dampier CCS Regional Study led by global tech firm SLB, providing a 3D seismic and storage assessment to find new carbon capture and storage in the Carnarvon basin in Western Australia.
The remaining US$11 million will be for developing new infrastructure at the Otway International Test Centre in Victoria. The project is managed by the Australian CCS research organization CO2CRC and will allow the testing of CO2 migration and validation of new modeling techniques for better CCS processes.
Chevron is a founding member of CO2CRC. Its funding will ensure that the test center stays as a critical national research infrastructure for applied research into CCS that supports Australia’s transition to net zero.
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