Ozona CCS and Marubeni Partner for Carbon Capture in South Texas

Ozona CCS LLC has entered into a definitive agreement with a subsidiary of Marubeni Corporation to establish a joint venture aimed at developing carbon capture and sequestration (CCS) projects in the Eagleford Basin of South Texas. This partnership is designed to leverage Marubeni's technical and financial expertise to enhance Ozona's capabilities in identifying and acquiring pore space, permitting sequestration wells, and engineering necessary facilities and pipelines for CCS initiatives. The joint venture is currently focused on sequestering CO2 in the Eagleford Basin, with Ozona having identified several potential storage sites following a thorough geological review of the region. The company is also in discussions with major producers in the area to capture and sequester CO2 emissions from various natural gas treating plants, which is crucial for reducing carbon emissions in the oil and gas sector. Ozona aims to reach a final investment decision (FID) on its first project by early 2025, with operations expected to commence in the first quarter of 2026. This timeline reflects the urgency and importance of implementing effective carbon management solutions in response to growing environmental concerns. Rich Adams, Co-CEO of Ozona, expressed enthusiasm about the collaboration, emphasizing the potential for this project to serve as a model for future initiatives aimed at lowering carbon emissions across diverse industries. The partnership signifies a strategic move towards sustainable practices in the energy sector, aligning with broader goals of environmental stewardship and climate change mitigation.