Appea sees 'strong interest' in CCS acreage releases

Australia’s peak oil and gas industry body on March 10 said there has been strong interest in acreage releases for new carbon capture and storage (CCS) opportunities off Western Australia and the Northern Territory.

The Australian government in December opened up offshore acreage for which bids were submitted between March 4 and March 10. On offer are five storage locations in the Bonaparte, Browse and Northern Carnarvon basins.

Appea CEO Andrew McConville said the sector’s technological expertise and commitment to reducing emissions provided it with an advantage to deliver more as well as ultimately support a new hydrogen industry.

“We understand members showed strong interest in this release, illustrating a solid backing of the pathway to lower emissions, cleaner energy future,” McConville said.

“The oil and gas industry is committed to achieving net zero greenhouse gas emissions by 2050, and some of our members are targeting earlier dates,” he added.

McConville said CCS has an important role in lowering the carbon intensity of gas production and in supporting the development of a blue hydrogen industry.