Carbon Capture, Use & Sequestration
In the U.S. our operations at Buckeye East in New Mexico use recycled CO₂ for enhanced oil recovery, and in 2019 we purchased over 259,000 tonnes of CO₂ for injection. We are also a member of the Energy Advance Center (EAC), a voluntary association of energy and energy-related organizations dedicated to advancing the development and deployment of carbon capture, utilization and storage to achieve a cleaner energy profile and improve U.S. economic security. Our interest in EAC centers around advocating for a commercially reasonable standard to demonstrate secure geological storage in the context of captured carbon dioxide that gets sequestered underground as a tertiary injectant in enhanced oil recovery projects.
Seven of Canada’s Oil Sands Innovation Alliance (COSIA) member companies, led by ConocoPhillips Canada, partnered with NRG Energy, an integrated power company in the U.S., to back a global competition to research technologies to capture and transform CO₂. The NRG COSIA Carbon XPRIZE challenges the world to reimagine what can be done with CO₂ emissions by incentivizing and accelerating the development of technologies that convert CO₂ from fossil fuel combustion into valuable products. Ten teams from five countries were recently named finalists for the $20 million competition. Teams range from entrepreneurs and start-ups to academic institutions and companies that have been tackling the carbon challenge for more than a decade. The competition has two tracks: one focused on testing technologies at a coal-fired power plant and one at a natural gas-fired power plant. The 10 finalists received equal shares of a $5 million milestone prize to test their technologies at commercial scale under real-world conditions at the Integrated Test Center in Gillette, Wyoming for the coal track or at the Alberta Carbon Conversion Technology Centre in Calgary for the natural gas track. Teams will be scored on how much CO₂ they convert and the net value of their products. Ultimately, each of the two winning teams in the natural gas and coal tracks will be awarded a $7.5 million grand prize.