Chevron Corporation, through its affiliate Chevron Australia, is part of three joint ventures that have been granted an interest in three greenhouse gas assessment permits offshore Australia.
The blocks, including two in the Carnarvon Basin off the north-western coast of Western Australia and one in the Bonaparte Basin offshore Northern Territory, total more than 31,500 sq km or nearly 7.8m acres – an area larger than Belgium.
Mark Hatfield, Managing Director of Chevron’s Australia Business Unit, said, ”We look forward to working with our venture participants to assess the greenhouse gas storage potential within these titles, which we hope will benefit Australia and the region for years to come.”
Chris Powers, Vice President of Carbon Capture Utilisation and Storage (CCUS) for Chevron New Energies, said, “Under almost every scenario, CCUS is expected to be essential for meeting the net zero ambitions of the Paris Agreement and is poised to play a crucial role in reducing carbon emissions in hard-to-abate, energy intensive industries such as LNG, refining, petrochemicals, power, steel, and cement.
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