We mere mortals in the energy industry can be slow to embrace new technologies even when “adapt and mutate” is the inevitable result. The oil field is going digital. Machine-learning tools predict when drilling equipment will fail. Drones are quickly replacing pipeline walkabouts to ensure safety and integrity. And so many other new advancements are now online or headed our direction to decrease costs, increase production, improve efficiencies, and reduce our carbon footprint in a dramatically changing global environment. It would be fool hardy not to recognize them.
Carbon Engineering is a Canadian-based clean energy company focusing on the commercialization of Direct Air Capture technology that captures carbon dioxide directly from the atmosphere.
RMR today is studying the latest news from Calgary-based Carbon Engineering, which is building what will be the world’s largest carbon-capture plant in West Texas with a $68 million investment from Occidental Petroleum, Chevron, and BHP. The plant will capture as much as 500 kilo tons of CO2 from the atmosphere per year for enhanced oil recovery (EOR) projects and to produce fuel in the Permian Basin. Construction of the plant is expected to begin in 2021.
Now, this seems a bit ingenious, right? Capturing the carbon produced in fracking to inject it back into older or declining wells to extract more hydrocarbons? That’s what Carbon Engineering is banking on. EOR pioneers like Occidental just announced a joint study to assess the viability and design of a carbon-capture facility at the Holcim Portland Cement Plant in Florence, Colo., that will reinject carbon dioxide into the concrete. Carbon Engineering also has announced a $20 million award for the best conversion of CO2 into a scalable product.
What do you think?