Santos JVs bag two CO2 storage assessment permits
SUMMARY
The two permits are located off the coast of Western Australia.
By Shardul SharmaPOSTED IN:
Santos has been awarded permits to undertake evaluation and appraisal work for the potential storage of carbon dioxide in the Carnarvon and Bonaparte basins, off the coast of Western Australia, the company announced on September 5.
G-9-AP has been awarded to a joint venture of Santos and Chevron and covers an area of 3,589 km2 within the Carnarvon basin. Santos owns 50% interest and will be the operator.
G-11-AP has been awarded to a joint venture comprising Santos, Chevron and South Korea’s SK E&S and covers an area of 26,239 km2 within the Bonaparte basin. Santos is the operator with 40% interest, Chevron and SK own 30% each in the project.
"Santos is working towards developing its three hub CCS strategy across our operating footprint in Australia and Timor-Leste, and the award of these permits represents a further demonstration of our commitment to that strategy,” CEO Kevin Gallagher said.
Gallagher stated that in the Carnarvon basin, the permit creates potential new acreage for CCS beyond the Reindeer fields. “This is particularly significant as our plans for a WA CCS hub at Reindeer and Devil Creek develop,” he added.
Gallagher said that the other permit is significant and its proximity to the Bayu-Undan CCS project is important as Santos looks to build out its Northern Australia and Timor-Leste CCS hub.
Santos' first CCS project at Moomba is 20% complete, he said, with 100mn metric tons of CO2 capacity and contingent resources already booked.
