American energy company Denbury will work together with Japanese company Mitsui E&P USA LLC (MEPUSA), subsidiary of Mitsui & Co., Ltd. to investigate carbon dioxide (CO2) offtake opportunities from MEPUSA’s potential projects along the US Gulf Coast. In addition, MEPUSA will identify further international opportunities for collaboration.

Stating that the company wishes to use this partnership to further develop its CCUS ‘value chain’ in the US, Toru Matsui, COO, Mitsui’s Energy Business Unit, added, “Through our involvement in developing CCUS projects globally, Mitsui aims to achieve net-zero carbon emissions and create a sustainable and eco-friendly society.”

The partnership will also involve a joint evaluation of potential opportunities to develop carbon-negative oil assets using anthropogenic CO2 via carbon capture, utilisation and storage (CCUS).