Buru receives grant for CCS project in West Australia
SUMMARY
The company will undertake a feasibility study for a greenhouse gas (GHG) storage project in the onshore Carnarvon basin.
By Shardul SharmaPOSTED IN:
Sydney-listed Buru Energy has been selected to receive a grant from the Australian government to undertake a feasibility study for a greenhouse gas (GHG) storage project in the onshore Carnarvon basin, the company said on April 20.
The offer of the grant is for matching funds of some A$7mn over a three-year period. The funding will be used to evaluate and quantify the GHG storage potential of geological reservoirs. The grant is part of a federal government initiative to facilitate the development of hydrogen production and GHG storage hubs in Western Australia, Buru said.
“Onshore geological GHG sequestration has the potential to be lower cost, technically more robust, and suitable for higher volumes of storage capacity than alternatives including storage in offshore depleted oil and gas fields,” the company said.
Buru has identified potential geological storage reservoirs in the vicinity of its L20-1 petroleum permit application area near Onslow.
