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That's right my friend! Check out this old article from May. Pep-11 has been identified by Geoscience Australia and CO2 Co-operative as a potential storage area!

CO2 storage potential major part of PEP-11 according to Advent Energy chair David Breeze | Newcastle Herald

https://sydneynewstoday.com/co2-storage-potential-major-part-of-pep-11-according-to-advent-energy-chair-david-breeze-newcastle-herald/168712/


(Extract Only)
CCS is widely criticised in the environmental movement but Mr Breeze said it could play a major role in the push for “net zero emissions. He said the “offshore Sydney Basin area” covered by PEP-11 had been identified both by Geoscience Australia and the CO2 Co-operative Research Centre (CO2CRC) in Victoria as a potential storage area. In the language of oil and gas mining, “enhanced recovery” means pumping CO2 into the targeted reservoir to help push the wanted product out. “Enhanced recovery using CO2 already works on a global scale and so it stands to reason if you have offshore gas you can take the methane out and substitute it with CO2,” Mr Breeze said. He said one of the most important attractions for PEP-11 as a storage facility was its proximity of its two major prospects – known as Baleen and Fish – to the Hunter Valley and the Central Coast, where the bulk of the state’s coal and gas fired electricity was generated. He said NSW generated about 131 million tonnes of CO2 a year: 68 million tonnes of that came from “stationary” sources, and about half of that stationary output came from the state’s coal-fired power stations. He said the viability of CCS swung on its cost, and the cost of energy. Advent first explored CCS with PEP-11 back in 2010 in conjunction with the CO2CRC but “nothing went ahead because we couldn’t get funding”. CCS had a “stretch target” of $20 a tonne to “capture, transport and sequester”, which was “ambitious” and well below the present cost. In a similar fashion, he said, Santos and Ampolex identified Baleen as a “multi TFC (trillion cubic feet) prospect 30 years ago”. “But back then no-one was interested in gas as an energy source because coal was cheap and CO2 was not a problem,” Mr Breeze said. “Gas then was $2 a gigajoule but was uneconomic to develop. Now, industry is paying about $9 a gigajoule, but at that price it is uneconomic from the other way, in that it’s too expensive.” Mr Breeze said that if Baleen or Fish went ahead, once a well was sunk, there would likely be “nothing to see” and “no environmental impact” or interruption to fishing because the gas would be brought onshore near Lake Munmorah through a “sub-sea floor” pipe. He said both prospects were “well over the horizon”, about 25 kilometres offshore.