Ozona, Marubeni to Develop Carbon Capture, Sequestration in Eagleford Basin
Marubeni will provide technical and financial assistance for Ozona to identify and acquire pore space, permit sequestration wells, and establish facilities and pipelines in Texas.
Ozona CCS and a subsidiary of Marubeni Corp. formed a joint venture to execute carbon capture and sequestration (CCS) opportunities in southern Texas’ Eagleford Basin. The companies are developing a project to store CO2 in the Eagleford Basin—Marubeni will provide technical, financial, and additional assistance for Ozona to identify and acquire pore space, permit sequestration wells, and engineer and procure the facilities and pipelines needed for CCS.
“Marubeni brings a wide range of expertise and knowledge to our project,” said Rich Adams, Co-Chief Executive Officer and Chief Operating Officer of Ozona. “We are excited to jointly develop CCS facilities in South Texas and bring a complete and low-cost carbon sequestration solution to oil and gas producers in the Eagleford Basin. We hope this is the first of many projects Ozona and Marubeni develop in Texas to lower carbon emissions from a diverse group of emitters.”
Eagleford trend; Image Credits: NuTech Energy Alliance
The joint venture enables Ozona to continue developing its CCS projects in Texas, identifying several potential storage sites through a regional geology review in the Eagleford trend. Ozona and multiple large Eagleford producers are in discussions to capture, concentrate, gather, and sequester CO2 from several natural gas treating plants. The partners expect a final investment decision in early 2025 with operations beginning in Q1 2026.
Ozona CCS News
In June 2024, CORMETECH and Ozona CCS partnered, via a signed memorandum of understanding, to design, build, and operate a full-scale CCS system capable of NOx reduction, with full operation expected by the end of 2025. Ozona selected CORMETECH’s emissions control technology and modular adsorber PATHWAY CO2 Capture technology for the new system. Flue gas generated by natural gas-powered engines will be captured, transported, and sequestered with this technology.
CORMETECH’s PATHWAY maintains several advantages over liquid amine systems, including cost efficiency, footprint, environmental impact, and operational flexibility. The solution lowers the cost of CO2 capture and maintains a minimal physical footprint, allowing for optimal space utilization. In addition to integrated NOx control, the technology avoids secondary air emissions and minimizes liquid and solid waste and water demand. It also offers flexibility during unit start-up and shutdown.
And, in March 2023, Ozona CCS reached an agreement with Texas Pacific Land Corp. to lease approximately 5,173 contiguous acres of land for the purpose of drilling one of the first commercial CO2 sequestration wells in the Permian Basin. Initial anchor customers include natural gas processing plants and oil and gas operators in the region. The company can expand the acreage as additional storage capacity needs increase.
