Emissions

Oil and gas firm Talos Energy picked to operate offshore carbon capture, storage project
Oil and gas firm Talos Energy picked to operate offshore carbon capture, storage project
(Photo from NRG Energy.)

Houston oil and gas exploration firm Talos Energy and a partner have been awarded the lease on a planned carbon capture and storage project along the Texas gulf coast.

Talos and Carbonvert were the winning bidders for the Texas General Land Office’s (GLO) carbon storage project in Jefferson County. The offshore site, in Texas state waters of the Gulf of Mexico, could eventually sequester from 225-275 million metric tons of carbon dioxide generated by industrial operations in the area, according to the release.

Talos will operate the project.

“This is the first of several steps in our strategy to build multiple carbon capture and storage sites along the United States Gulf Coast where we can use Talos’s core competencies to operate these important projects,” Talos CEO Timothy Duncan said in a statement. “We want to redefine the role of traditional oil and gas companies, as we recognize the need to responsibly develop and produce hydrocarbons as well as lowering overall emissions in the communities where we work and live.”

The process will now enter into an exclusive phase where Talos and Carbonvert will negotiate a lease agreement with the GLO staff based on the terms of the Talos bid and the terms included in the original request for proposal from the GLO. Final terms are subject to the approval of the Texas School Land Board.

The company’s proposal was submitted in partnership with Carbonvert, a carbon capture and storage-focused project management company founded in late 2020 by renewable and conventional energy industry veterans.

Texas is home to several carbon capture and sequestration operations. Another is the Petra Nova facility near Houston (pictured) which is connected to the nearby coal-fired power plant.

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