Promoting the Petra Nova CCUS Project for Both CO2 Reductions and Expanded Crude Oil Production
In our oil and natural gas business, we are implementing a project that will simultaneously achieve a dramatic increase in production from aging oil fields and cut atmospheric CO2 emissions in Texas, USA.
Through it, we capture CO2 emitted from a coal-fired power station and injected it into an oil field with declining production. This allows us to increase the oil field's daily production by about 300 barrels and also reduce the amount of CO2 emitted into the air.
The CO2-EOR (Enhanced Oil Recovery) technology used here improves oil field productivity by injecting and storing CO2 in the ground.
Our project is oriented toward commercialization that makes use of CO2 emitted from a coal-fired power station, and for this it was recognized as a particularly advanced undertaking by the Clean Coal Power Initiative program in USA. As such, it became eligible for a 195-million-dollar grant from the U.S. Department of Energy. It began commercial operation in December 2016 and commenced oil field production based on increased production and capture in February 2017. With a daily capture capacity of 4,776 tons of CO2, the project operates as the world's largest plant that captures CO2 from flue gas.
The CO2-EOR Mechanism
Together with PETRONAS and the Japan Oil, Gas and Metals National Corporation (JOGMEC), we launched a joint study on the development of a Malaysian gas field containing high-density CO2 in March 2020. The targeted gas field is a previously discovered field whose development was shelved due to extremely high CO2 density, This study is an attempt to apply CCS technology to produce natural gas while controlling CO2 emissions as much as possible. In conducting the study, we are also looking at establishing a supply chain that will produce hydrogen using produced natural gas in the future.
Together with JOGMEC, we concluded a "memorandum for a joint study/joint business analysis" with PT Pertamina, Indonesia's national oil company, in October 2018 that targets Indonesian oil and gas fields owned by Pertamina and other concerned companies.
The study's scope includes the application of CO2-EOR technology. We are currently selecting the oil fields that will be targeted. When it is deemed through this joint study that projects are feasible, we will strive to promote those projects based on agreements with the parties concerned and help increase oil production and lower greenhouse gas emissions.
- Excerpted from a press release issued on October 29, 2018