Insider Brief:
- The U.S. Environmental Protection Agency has approved Class VI permits to allow carbon sequestration from the Stratos Direct Air Capture facility in Texas.
- The permits were issued under the Safe Water Drinking Act’s Underground Injection Control program.
- Stratos is designed to capture up to 500,000 tonnes of carbon dioxide per year and is expected to begin operations in 2025.
Permits Enable Secure Carbon Storage in Texas
PRESS RELEASE: Occidental (NYSE: OXY) and its subsidiary 1PointFive today announced that the U.S Environmental Protection Agency approved its Class VI permits to sequester carbon dioxide (CO2) captured from STRATOS when the world’s largest Direct Air Capture (DAC) facility begins operating in Ector County, Texas. The permits, the first issued to sequester CO2 from a DAC project, allows Occidental to leverage its expertise managing large quantities of CO2 while advancing technology that strengthens the United States’ energy security and furthers economic growth in Texas.
Stratos Direct Air Capture Facility Set to Begin Operations in 2025
The permits, issued under the Safe Drinking Water Act’s Underground Injection Control program, are a critical component of Occidental’s plan to securely and durably store CO2 captured from the atmosphere. Throughout EPA’s rigorous review process, Occidental demonstrated that its technologies, processes, monitoring programs and other procedures meet or exceed federal and state requirements for injection wells that store CO2 in geologic formations more than one mile underground.
“This is a significant milestone for the company as we are continuing to develop vital infrastructure that will help the United States achieve energy security,” said President and Chief Executive Officer Vicki Hollub. “The permits are a catalyst to unlock value from carbon dioxide and advance Direct Air Capture technology as a solution to help organizations address their emissions or produce vital resources and fuels.”
STRATOS is designed to capture up to 500,000 tonnes of CO2 per year and is on-track to start commercial operations in 2025.
About Occidental
Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of America. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas, and includes our Oxy Low Carbon Ventures subsidiary, which is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. We are dedicated to using our global leadership in carbon management to advance a lower-carbon world.
About 1PointFive
1PointFive is a Carbon Capture, Utilization and Sequestration (CCUS) company that is working to help curb global temperature rise to 1.5°C through the deployment of decarbonization solutions, including Carbon Engineering’s Direct Air Capture and AIR TO FUELS™ solutions alongside geologic sequestration hubs.
