Oxy Low Carbon Ventures, LLC (OLCV) and Carbon Engineering Ltd are working on the engineering and design of a large Direct Air Capture (DAC) and sequestration facility in the Permian Basin, Southwestern US.
The companies are evaluating a facility designed to capture 500,000 metric tonnes per year of carbon dioxide (CO2) direct from the atmosphere. The CO2 would then be used in Occidental’s enhanced oil recovery (EOR) operations and subsequently stored underground permanently.
OLCV is a subsidiary of Houston-based Occidental, an international oil and gas exploration and production company which has active investment in CO2 enhanced oil recovery and carbon capture, utilisation and storage (CCUS), as well as other emissions reducing technologies.
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