Chevron invests $38m in Australian CCS research

Image credit: CO2CRC

Chevron Australia is set to jointly invest AUD $38 million to research initiatives on carbon capture and storage (CCS) in Western Australia and Victoria to advance knowledge of the critical emissions technology for a lower carbon future.

In a media statement, the company said Barrow Dampier CCS Regional Study, led by global technology company SLB, has received AUD $22 million in funding to support a three-dimensional seismic and storage assessment to identify new CCS opportunities in the Carnarvon basin, offshore Western Australia.

Chevron Australia has also pledged AUD $16 million to support the development of new infrastructure at Victoria’s Otway International Test Centre. 

The project, managed by the Australian carbon capture and storage research organization CO2CRC, will allow for carbon dioxide migration testing and validation of new modelling techniques that could improve storage processes in future CCS programs.

Chevron Australia’s general manager of asset development Michelle LaPoint expressed the company’s commitment to advancing the deployment of CCS technology in Australia.

“Our experience continues to reaffirm our confidence in the emissions reduction opportunities of CCS and we’re proud to support SLB and CO2CRC in projects that will advance research into this critical technology,” LaPoint stated.

CO2CRC CEO Dr Matthias Raab welcomed Chevron’s investment ensuring that the Otway International Test Centre continues its applied research into CCS as an essential low-emission technology that will enable Australia’s energy transition to net zero.