Issue 9, 2022 - ExxonMobil to use dry oil fields to store carbon

ExxonMobil will use dry oil fields to store carbon

ExxonMobil said its carbon capture and storage center in southeastern Australia will use existing infrastructure to store carbon dioxide in the depleted oil field of Brim off the coast of Gippsland, Victoria, Australia, to reduce greenhouse gas emissions
from multiple industries in Australia's Gippland Basin.

Currently, the company is conducting design studies for front-end engineering to determine the potential for
carbon capture and storage.
The project is expected to be operational around 2025 and capture more than 2 million tons of carbon dioxide
per year.
ExxonMobil revealed that there are currently many local CO2-intensive companies that hope to reduce CO2 emissions
through the company's operations.

Joe Blommaert, president of low carbon solutions at ExxonMobil, said collaboration with other industries was an important step in unlocking Australia's future of carbon capture and storage, and companies in industries with high CO2 emissions would also reduce carbon emissions
at scale.