Brazil’s Eneva Launches Gas Exploration, Carbon Storage Search in Parana Basin
(Reuters) — Brazilian oil firm Eneva has began an exploratory campaign for natural gas in the Parana Basin that could lead to the firm's entry in the carbon capture market, a director at the firm told Reuters.
The first stage of the campaign started last month and is set to last about a year and a half, costing around 200 million reais ($36.66 million), said Frederico Miranda, director of exploration, reservoir and low-carbon technologies at Eneva.
During this stage the firm will also seek saline reservoirs that could be used for carbon dioxide capture and storage projects, Miranda said.
"We will look for natural gas, but all the information we acquire can also be used to evaluate the carbon capture and storage project," said Miranda.
The firm is in talks with players in the ethanol industry located near the Parana Basin and interested in decarbonizing their activities, said Miranda.
Miranda said prospecting only for carbon capture and storage projects in the Parana Basin might not have been profitable, but the search for gas brought more value to the project.
The company expects to start drilling in 2027, which would make Eneva the first company to do so in the basin in over two decades, according to data from the regulatory agency ANP.
($1 = 5.4556 reais)
Related News
Related News
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- South Dakota Governor Signs Bill Banning Eminent Domain for Carbon Pipeline
- Woodside May Delay Final Investment Decision on Louisiana LNG to Q2, CEO Says
Comments