Carbon Capture and Storage Proposal for PEP11 Baleen well
Sydney, Sep 8, 2020 AEST (ABN Newswire) - The Baleen well program in PEP11(Offshore Sydney Basin) offers significant potential environmental benefits in carbon capture and storage (carbon reduction) for the greater Sydney/Newcastle area.
Key points
The Offshore Sydney basin offers a substantial opportunity to make a meaningful impact on the reduction of CO2 emissions through CCS-Carbon Capture and Storage (geo-sequestration of CO2 emissions)
- Both the International Energy agency and the Intergovernmental Panel on Climate change believe that CCS can play an important role in helping to meet global emission reduction targets.
- CCS is part of a suit of solutions with the potential to mitigate greenhouse gas emissions and help address climate change
- Independent published research has indicated at least 2 TCF(Trillion Cubic Ft) of CO2 storage may be feasible in the offshore Sydney Basin2. The Sydney Basin is a major contributor to Australia's greenhouse gas emissions
- The NSW Sydney Basin region contains the largest number of stationary CO2 emission sources in Australia including oil refineries, coke ovens and power stations. Eleven major stationary sources of anthropogenic CO2 within the Sydney Basin alone contribute 34% of the total national emissions
- Published research by the CO2CRC a world leader in carbon capture, utilisation and storage (CCUS) research and Geoscience Australia has confirmed emissions projections solely from stationary sources are in the order of 705 Billion cubic metres or 24.9 TCF of CO2 over a twenty-year period.
- The Otway Basin CO2CRC is already researching the sequestration of CO2 in Victoriabut it will not deal with the largest source of CO2 in Australia, namely NSW. The Victorian CO2CRC aims to bring together multiple CO2 capture projects in Victoria's Latrobe Valley, transport CO2 via a shared pipeline and inject it into deep underground, offshore storage sites in Bass Strait.
- The offshore Sydney basin can replicate this project.
- Implementation of CO2 capture and geological storage (CCGS) technology at the scale needed to achieve a significant and meaningful reduction in CO2 emissions requires knowledge of the available CO2 storage capacity
- BPH Energy (
ASX:BPH) investee Advent Energy is proposing with its Joint Venture Partner Bounty Oil and Gas NL (ASX:BUY)to use the gas exploration drilling program at Baleen to investigate as a secondary objective the potential for CCS -Carbon Capture and Storage (geo-sequestration of CO2 emissions)
CCS is an integrated technology with each process complementing the other one. It is a well proven and established technology and can achieve an efficiency of as high as 90% when deployed. It can capture CO2 fossil fuel emissions thus preventing the harmful gas from escaping to the atmosphere. The rising concerns over climate change combined with the efficiency of CCS is expected to benefit the CCS market over the forecast period. The offshore Sydney basin offers a solution to the gas supply issues that have impacted the east coast gas market for the last five years with estimates of up to 5.7 TCF of prospective gas resources within structural targets in the offshore area. This drill test will also investigate the potential future storage capacity for CO2 emissions capture.
About BPH Energy Limited
BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.
The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.
BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.
BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).
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