Ozona CCS has partnered with a subsidiary of Japanese firm Marubeni to develop carbon capture and sequestration (CCS) projects in the Eagleford Basin, South Texas. The joint venture aims to sequester CO₂ emissions, with Marubeni providing technical and financial support.
Ozona has already identified several potential storage sites in the Eagleford trend through a detailed geological review and is in discussions with major producers to manage CO₂ emissions from natural gas processing plants.
Marubeni will assist Ozona in securing pore space, obtaining permits for sequestration wells, and developing the necessary infrastructure, including facilities and pipelines. This collaboration is essential to the success of the CCS projects.
The first project is expected to reach a final investment decision (FID) by early 2025, with operations set to begin in the first quarter of 2026.
Rich Adams, Ozona’s co-CEO and COO, commented: “Marubeni brings valuable expertise to our project. We’re excited to work together on CCS facilities in South Texas, providing a comprehensive and cost-effective carbon sequestration solution for oil and gas producers in the Eagleford. We hope this is just the beginning of many CCS projects we’ll develop together in Texas.”
In June 2024, Ozona CCS also signed an agreement with Cormetech to design, build, and operate a full-scale CCS system with integrated NOx reduction, capable of capturing, transporting, and sequestering CO₂ from flue gas generated by natural gas-powered engines.