Santos receives more CCS permits
PERTH (miningweekly.com) – Oil and gas major Santos announced on Monday that the company had obtained permits to undertake appraisal and appraisal work for the potential storage of carbon dioxide (CO2) in the offshore Carnarvon and Bonaparte basins off Western Australia.
The G-9-AP and G-11-AP permits will allow Santos to pursue potential carbon capture and storage (CCS) opportunities with its joint venture partners.
Santos MD and CEO Kevin Gallagher said the permits build on Santos’ CCS strategy and have the potential to generate additional CCS opportunities.
“CCS is essential for the world to reduce emissions and in line with the Santos Scope 1 and 2 net zero emissions target by 2040 – we are committed to examining all options for CCS.
“Santos is working to develop its three-hub CCS strategy across our operational footprint in Australia and Timor-Leste, and the awarding of these permits represents a further demonstration of our commitment to this strategy.
“In the Carnarvon Basin, the permit creates potential new acreage for CCS beyond our reindeer fields. This is particularly important as our plans for a Western Australian CCS center in Reindeer and Devil Creek develop.
“The other permit is of significant size, covering over 26,000 km2 in the Bonaparte Basin. Its proximity to our Bayu-Undan CCS project, which has the potential to be one of the largest CCS projects in the world, is important as we plan to build our CCS center in northern Australia and Timor-Leste. said Gallagher.
He said Santos has the technology, infrastructure and knowledge to deliver low-cost CCS globally competitively.
“We know that a major scaling up of CCS is needed to meet global climate goals. Working with our partners to assess the storage potential in these permit areas will allow us to better understand the geology and inform us of possible storage opportunities.
Santos’ first CCS project at Moomba will be one of the largest in the world and will set the stage for an important carbon reduction and storage story for Santos and for Australia. The project is 20% complete, with 100 million tonnes of CO2 the capacity and any resources already reserved.
In addition, Santos’ Bayu-Undan CCS project entered the end engineering design phase earlier this year.
Globally, there are 133 commercial CCS projects operational or under development.