Happy
Monday!
Did you hear
about the announcement Thursday, March 3, 2023, made from Occidental Petroleum Corporation (OXY) and its subsidiary 1PointFive? 1PointFive is their carbon capture utilization
and sequestration company, and they have been on the lookout for a land along
the Gulf Coast. They finally found a
site with more than 55,000 acres. 1PointFive
location is overlapping into three Texas counties: Chambers, Liberty, and
Jefferson, and the hub will be called Bluebonnet. Bluebonnet Hub is the perfect location to
take advantage of all the Oil and Gas industries in and around the Houston,
Baytown, Port Arthur, and Beaumont areas, and use existing pipelines to gather
CO2 and transport to the underground saline aquifers. 1PointFive has done a successful stratigraphic
test well and subsurface assessment to confirm the site’s ability to contain
carbon dioxide in the deep saline aquifers.
The company plans the Bluebonnet Hub will be up and running by 2026, and
they will be filling for permits this year.
Last year it
was announced Oxy’s Low Carbon Ventures which 1PointFive is part of will be partnering
with Enterprise Products Operating, LLC
(subsidiary of Enterprise Products
Partners, L.P.) in developing a carbon dioxide transportation system using Enterprise’s
existing and expansive pipeline system in addition Enterprise will be adding
new pipelines in the Texas Gulf Coast region connecting to the Bluebonnet
Hub. Both companies feel this is a good
solution to help the Texas Gulf Coast reduce its emissions in the Houston and
Beaumont areas.
If you would
like to read Oxy’s full press
release, please click the link: 1PointFiveAnnounces Plan to Develop a Carbon Capture and Sequestration Hub in SoutheastTexas (oxy.com)
If you would
like to view the full press release about the collaboration between Oxy Low Carbon
Ventures and Enterprise, please
click the link: Enterpriseand Oxy Low Carbon Ventures Sign Letter of Intent for Gulf Coast CO2Transportation and Sequestration Project | Enterprise Products Partners L.P.
Our team of experts have
experience in underground storage, so if you too would like to get a project
going, we’re here to help!
Have a great week!