The feasibility of a permanent carbon dioxide (CO2) sequestration hub, located in southeast Texas, is being explored by Natural Resource Partners and Occidental’s Low Carbon Venture (OLCV) subsidiary.
An agreement inked on Thursday (27th Oct) confirmed OLCV’s exclusive rights to develop the CO2 sequestration hub on approximately 65,000 acres of pore space that has a storage potential of at least 500 million metric tonnes.
Craig Nunez, President of Chief Operating Officer at Natural Resource Partners, said, “OLCV’s expertise in carbon management will provide important benefits to the environment and expand our carbon neutral portfolio.”
“We continue to evaluate carbon sequestration opportunities on the approximately 3.3 million acres of additional carbon sequestration rights we own across the Gulf Coast.”
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