I reckon this project deserves its own thread so we all can discuss and put our opinions across and educate ourselves to this industry that our governments are recommending and supporting to assist the global carbon emissions reduction.
I'm super enthused and do not subscribe to the thoughts of some that it is simply a diversion for the CH decommissioning costs.
Fact is it is a sensible project and makes commercial sense that once the CH oil extraction from the Alpha Platform is completed, the whole project can be transitioned to a CCS operation with associated downstreaming (hydrogen & ammonia) utilising the existing CH infrastructure that is reducing project costs significantly.
Read this article from 'Pump Industry'
"The CH CCS Project, located near Geraldton in the Midwest region, is a
GLOBAL TOP 10 Co2 Injection Capacity Project, which at full capacity would be injecting up to 1.1 Mtpa of Co2 into offshore reservoirs.
CHJV also announced that Co2TECH (JV Co2 storage sub surface advisor) has revised the contingent storage resource estimate, resulting in a 50% increase in the CHJV 2C contingent Co2 storage resource for the WA-31-L tenement area from 6.4 million tonnes to 9.7 million tonnes (100 % basis)
This increased storage resource is sufficient to facilitate Co2 injection over approx. 15 years at a rate of 665,000 tonnes per annum.
Capital cost $110 million for 665,000tpa injection capacity. Plus up to $60 million to expand injection capacity to 1.1 mtpa."
The project is in the Midwest where business is booming and operations will be screaming out for methods to reduce their own carbon footprints and meet the new standards.
This project is no back yard job to appease shareholders and market, it is a serious, planned and researched project of global statue, with feasibility studies reporting profitability and scope.
Being offshore It is the first of its kind submitted in Australia and I do not think for one minute that the JV are anything but commited.
My opinion only and my opinion is GO for CCS.
Great to get others opinion.
GLAH
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