Projects and Ventures
We’re developing and commercializing exciting, first-of-their-kind technologies and projects
For more than 40 years, Oxy has been in a leader in carbon and storage in the Permian Basin. Now we’re applying our unique expertise to accelerate global CO2 emission reduction.
Large-scale carbon capture, utilization and storage (CCUS) is essential for practical progress in near-term emissions reduction.
Global society is working hard to develop energy sources, technologies, processes, feedstocks and materials that don’t rely on hydrocarbons. But until human ingenuity gets us there, it’s our collective responsibility to implement solutions that reduce emissions today.
Oxy is developing numerous nascent technologies and approaches to help find net-zero fuel solutions. A big part of this innovation involves removing emissions directly from the atmosphere right now, while simultaneously working toward global commercialization of alternative fuels and materials.
One of the most exciting areas of development involves CCUS—which provides a proven pathway for near-term emission reduction. Implementation of CCUS, paired with proactive policies, can deliver large-scale solutions that help us meet 1.5°C scenarios, drive exponential advances in technical capabilities and achieve net-zero or beyond.
Oxy has partnered with Carbon Engineering to deliver its proven, proprietary Direct Air Capture (DAC) technology on an industrial scale. This practical carbon removal methodology pulls CO2 directly from the atmosphere—giving new options to industries that have long been difficult to decarbonize such as trucking, marine transport, aerospace and rail transportation.
Oxy’s 1PointFive is developing Carbon Engineering’s Direct Air Capture (DAC) technology at an industrial scale. 1PointFive's mission is to contribute to climate stabilization targets by developing a global network of commercially-viable DAC facilities to capture and sequester atmospheric CO2. The first DAC facility, STRATOS, is under construction, with commercial operations expected to begin in mid-2025.
Natural gas serves as a practical bridge between conventional and renewable energy. NET Power’s low-cost, zero-emission facilities can run continuously 24/7 all year providing climate-friendly power. Oxy’s 2018 investment in NET Power provides critical support for the commercialization of this zero-emissions approach to natural gas power generation.
Carbon Finance Labs
Carbon Finance Labs’ expertise at the intersection of carbon finance and technology keeps Oxy on the forefront of the emerging carbon commodity and net-zero fuels market. The company leverages new information technology, regulations and marketplaces to define transparent processes for carbon tracking that create exciting new markets for carbon products and services.
This project is expected to capture CO2 emissions from two of White Energy’s West Texas ethanol plants. This captured CO2 would be transported to Oxy’s West Seminole EOR field for injection and storage. The removal of 700,000 metric tons of CO2 annually from White Energy’s operations would lower the ethanol’s carbon intensity while taking advantage of 45Q tax credits.
This forward-thinking biotech firm has developed a CO2 utilization platform that mimics photosynthesis using CO2 as feedstock to produce industrial chemicals and polymers. By commercializing these new bioengineered pathways for CO2, we can harness the power of nature to turn CO2 from being emitted into a valuable feedstock for the creation of sustainable products.
Xpansiv provides a global marketplace for data-driven and transparent Environmental, Social and Governance (ESG)-inclusive commodity products. Oxy’s work with Xpansiv has enabled the launch of our first carbon-attributed, tradable oil and gas product that accounts for carbon intensity by incorporating emissions reductions from our carbon capture, utilization and storage operations.
TerraLithium, a wholly owned Oxy subsidiary, has developed an environmentally friendly method of ultra-pure lithium production by extracting lithium salts from subterranean brine. This technology can be synergistically tied to geothermal plants to not only turn a waste stream into a resource, but also yield a more pure form of lithium enabling longer battery life for electric vehicles.
CO2 Separation Membrane Technologies
Being able to separate captured CO2 from other gases and products presents a historic opportunity. But the process is complex, demanding multiple energy-intensive operations to make it work. That’s why Oxy partners with membrane technology suppliers around the world to help improve the performance of separation membranes. These efforts will reduce the carbon intensity and capital expense of the process, accelerating the overall global scalability of carbon capture technology.
Oxy is advising the Minnkota Power Cooperative on the safe design and overall requirements for the world’s largest CO2 capture facility. This plant will complement the Milton R. Young Station, a coal-fired power plant in North Dakota. Minnkota is conducting comprehensive front-end engineering and design (FEED) studies partly funded with a grant from the DOE and North Dakota Industrial Commission.
Oxy is developing a project to take, transport and store CO2 captured from Velocys’ planned Bayou Fuels biomass-to-fuels project in Natchez, Mississippi, in secure geologic formations. The Bayou Fuels project converts waste woody biomass into transportation fuels. Applying CO2 capture and storage can make the facility a net-negative carbon dioxide emitter and showcase CCUS production of zero-carbon and negative-carbon fuels.
CO2MENT Colorado Project
This joint pre-FEED study is underway to determine the viability and design of a carbon capture and storage system at the Holcim Portland Cement Plant. The project would capture 725,000 tonnes of CO2 per year, storing the CO2 deep underground. This groundbreaking project will utilize Svante capture technology, which reduces project capital costs by approximately 50 percent compared to alternative capture solutions.
Located in the Permian Basin, the Goldsmith solar facility is a 16.8 MW solar plant with direct tie-in to EOR operations. Solar power lowers the carbon intensity of Oxy’s Permian operations, which require electricity to inject and store CO2. Our team is planning other solar implementations and exploring additional renewable power purchases and zero-emissions projects to further improve Permian sustainability.