Occidental’s 1PointFive awarded DOE funding for sequestration hubs
Occidental subsidiary 1PointFive has been awarded a total of $36 million in government funding to support development of its Bluebonnet and Magnolia sequestration hubs.
The award from the US Department of Energy (DOE) is part of Phase III of the Carbon Storage Assurance Facility Enterprise (CarbonSAFE) Initiative, the operator said in a release Oct. 3.
The Bluebonnet and Magnolia sequestration hubs, positioned near industrial emissions sources in Chambers County, Tex., Allen Parish, La., respectively, are being designed for large-scale geologic CO2 storage. UIC Class VI sequestration permits are progressing, 1PointFive said.
In December 2022, a data well was drilled on both locations to collect core rock samples for analyses. The data is being assessed, according to the company website.
The Occidental subsidiary said the new DOE funding “will help advance 1PointFive’s site characterization activities, permitting, and environmental approvals for construction at each hub.”
The funding comes on the heels of a September award to another of the company's initiatives. In September, 1PointFive was awarded funding from the US DOE's Office of Clean Energy Demonstrations (OCED) to support development of the South Texas Direct Air Capture (DAC) Hub (OGJ Online, Sept. 13, 2024; Aug. 11, 2023).
Mikaila Adams | Managing Editor - News
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was named Managing Editor - News in 2019. She holds a degree from Texas Tech University.
