Chevron Enhances CCS with Offshore Emissions Assessment Permit in Australia

Chevron Corporation, via its subsidiary Chevron Australia New Ventures Pty Ltd, has received a greenhouse gas (GHG) assessment permit for offshore Western Australia. This new permit, designated G-18-AP, enhances Chevron’s efforts to advance its strategy of delivering lower-carbon energy solutions globally.

Located offshore from Onslow, Western Australia, the permit encompasses approximately 8,467 square kilometers, with water depths ranging from 50 to 1,100 meters. The area will be evaluated for its potential to serve as a hub for storing third-party emissions, including those from Chevron's own LNG operations. The permit involves a joint venture with Woodside Energy Ltd, where Chevron will hold a 70% interest and Woodside will hold 30%. Chevron has also agreed to transfer 5% of its stake to GS Caltex (GSC) of Korea, contingent on regulatory approvals and other conditions.

Chris Powers, Vice President of CCUS & Emerging for Chevron New Energies, emphasized the strategic importance of this permit. “Chevron and our joint venture partners possess a unique combination of assets, capabilities, and customer relationships that will support the further development and implementation of carbon capture and storage (CCS) in Australia. This new permit complements our existing CCS projects, including the Chevron-operated Gorgon CCS facility, one of the largest integrated CCS projects globally, which has already captured and stored 10 million tonnes of CO2-equivalent.”

Mark Hatfield, Managing Director of Chevron Australia, highlighted the broader benefits of the permit. “This opportunity not only aids in reducing the carbon intensity of our own operations but also offers potential solutions for our customers to reduce or offset their emissions.”

The new G-18-AP permit adds to Chevron’s existing non-operated interests in the G-9-AP, G-10-AP, and G-11-AP permits, as well as its operational Gorgon CCS project. As the International Energy Agency underscores, achieving global net-zero emissions will be nearly impossible without robust carbon capture and storage (CCUS) technologies. Chevron’s expansion in this area underscores its commitment to advancing CCS and supporting global climate goals.

Chevron Corporation is headquartered in San Ramon, California, and ranks as the second-largest integrated energy company based in the United States. Through its subsidiaries and affiliates, Chevron is engaged in the production of crude oil, natural gas, and a variety of other essential products. The company’s products are available at over 8,000 Chevron® and Texaco® retail locations throughout the U.S., and Chevron is a significant supplier of aviation fuel nationwide. Additionally, Chevron operates five refineries in the U.S. with a combined capacity to process more than 1.0 million barrels of oil per day.