California Resources Corporation (NYSE: CRC) and its carbon management subsidiary, Carbon TerraVault (CTV), have received the first Class VI well permits in the state from the U.S. Environmental Protection Agency (EPA), according to a company statement on Tuesday.
These permits allow for underground injection and storage of carbon dioxide (CO2) in the 26R reservoir at the Elk Hills Field in Kern County, California.
The 26R reservoir is part of the Carbon TerraVault Joint Venture (CTV JV) between CRC (51%) and Canadian investment management company Brookfield (49%).
Francisco Leon, CRC’s President and CEO, expressed pride in the achievement, stating, “This milestone underscores our leadership in the carbon capture and storage sector and highlights our capability to deliver carbon management solutions to key industrial partners across the state.”
The 26R reservoir is one of two depleted oil and natural gas reservoirs comprising the CTV I storage site.
Relevant: Kern County Board Approves Carbon TerraVault I Project
It has an anticipated CO2 injection rate of 1.46 million metric tons per year and an estimated total storage capacity of 38 million metric tons.
This achievement marks a significant step forward in leveraging carbon capture and storage (CCS) technology to reduce industrial emissions and support California’s clean energy transition.
The approval of Class VI permits emphasizes the role of depleted hydrocarbon reservoirs in tackling climate challenges, positioning CRC and CTV as pioneers in sustainable carbon management.
資料來源 : Carbon Herald