Occidental and 1PointFive Secure Class VI Permits for STRATOS Direct Air Capture Facility
Occidental (NYSE: OXY) and its subsidiary 1PointFive have received U.S. Environmental Protection Agency approval for Class VI permits to sequester carbon dioxide from the STRATOS Direct Air Capture (DAC) facility in Ector County, Texas. These are the first permits issued for CO2 sequestration from a DAC project.
The permits, issued under the Safe Drinking Water Act's Underground Injection Control program, will enable Occidental to store CO2 in geologic formations more than one mile underground. STRATOS, set to become the world's largest DAC facility, is designed to capture up to 500,000 tonnes of CO2 annually and is scheduled to begin commercial operations in 2025.
Occidental (NYSE: OXY) e la sua sussidiaria 1PointFive hanno ricevuto l'approvazione dell'Agenzia per la Protezione Ambientale degli Stati Uniti per i permessi di Classe VI per sequestrare anidride carbonica dalla STRATOS Direct Air Capture (DAC) facility nella contea di Ector, in Texas. Questi sono i primi permessi rilasciati per il sequestramento di CO2 da un progetto DAC.
I permessi, rilasciati nell'ambito del programma di Controllo dell'Iniezione Sotterranea della Legge sulla Sicurezza dell'Acqua Potabile, consentiranno a Occidental di immagazzinare CO2 in formazioni geologiche a più di un miglio di profondità. STRATOS, destinato a diventare il più grande impianto DAC al mondo, è progettato per catturare fino a 500.000 tonnellate di CO2 all'anno e dovrebbe iniziare le operazioni commerciali nel 2025.
Occidental (NYSE: OXY) y su subsidiaria 1PointFive han recibido la aprobación de la Agencia de Protección Ambiental de EE. UU. para los permisos de Clase VI para secuestrar dióxido de carbono de la instalación STRATOS de Captura Directa de Aire (DAC) en el condado de Ector, Texas. Estos son los primeros permisos emitidos para el secuestro de CO2 de un proyecto DAC.
Los permisos, emitidos bajo el programa de Control de Inyección Subterránea de la Ley de Agua Potable Segura, permitirán a Occidental almacenar CO2 en formaciones geológicas a más de una milla de profundidad. STRATOS, que se convertirá en la instalación DAC más grande del mundo, está diseñado para capturar hasta 500,000 toneladas de CO2 anualmente y se espera que comience operaciones comerciales en 2025.
옥시덴탈 (NYSE: OXY)과 그 자회사 1PointFive가 텍사스 에크터 카운티에 있는 STRATOS 직접 공기 포집(DAC) 시설에서 이산화탄소를 격리하기 위한 6등급(Class VI) 허가를 미국 환경 보호국으로부터 승인받았습니다. 이는 DAC 프로젝트에서 CO2 격리를 위해 발급된 첫 번째 허가입니다.
안전한 식수법의 지하 주입 통제 프로그램에 따라 발급된 이 허가는 옥시덴탈이 1마일 이상의 깊이에 있는 지질 형성에 CO2를 저장할 수 있도록 합니다. STRATOS는 세계에서 가장 큰 DAC 시설이 될 예정이며, 연간 50만 톤의 CO2를 포집하도록 설계되었으며, 2025년에 상업 운영을 시작할 예정입니다.
Occidental (NYSE: OXY) et sa filiale 1PointFive ont reçu l'approbation de l'Agence de protection de l'environnement des États-Unis pour des permis de classe VI afin de séquestrer le dioxyde de carbone de l'installation STRATOS de capture directe de l'air (DAC) dans le comté d'Ector, au Texas. Ce sont les premiers permis délivrés pour la séquestration de CO2 d'un projet DAC.
Les permis, délivrés dans le cadre du programme de contrôle de l'injection souterraine de la loi sur l'eau potable sûre, permettront à Occidental de stocker du CO2 dans des formations géologiques à plus d'un mile de profondeur. STRATOS, qui deviendra la plus grande installation DAC au monde, est conçu pour capturer jusqu'à 500 000 tonnes de CO2 par an et devrait commencer ses opérations commerciales en 2025.
Occidental (NYSE: OXY) und ihre Tochtergesellschaft 1PointFive haben die Genehmigung der US-Umweltschutzbehörde für Klasse VI Genehmigungen zum Sequestrieren von Kohlendioxid aus der STRATOS Direct Air Capture (DAC) Anlage im Ector County, Texas, erhalten. Dies sind die ersten Genehmigungen, die für die CO2-Sequestrierung aus einem DAC-Projekt erteilt wurden.
Die Genehmigungen, die im Rahmen des Underground Injection Control-Programms des Safe Drinking Water Act erteilt wurden, ermöglichen es Occidental, CO2 in geologischen Formationen, die mehr als eine Meile unter der Erde liegen, zu speichern. STRATOS, das größte DAC-Werk der Welt, soll jährlich bis zu 500.000 Tonnen CO2 erfassen und soll 2025 mit dem kommerziellen Betrieb beginnen.
- First-ever Class VI permits for DAC project CO2 sequestration
- World's largest Direct Air Capture facility with 500,000 tonnes annual CO2 capture capacity
- On track for commercial operations in 2025
- None.
HOUSTON, April 07, 2025 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) and its subsidiary 1PointFive today announced that the U.S Environmental Protection Agency approved its Class VI permits to sequester carbon dioxide (CO2) captured from STRATOS when the world’s largest Direct Air Capture (DAC) facility begins operating in Ector County, Texas. The permits, the first issued to sequester CO2 from a DAC project, allows Occidental to leverage its expertise managing large quantities of CO2 while advancing technology that strengthens the United States’ energy security and furthers economic growth in Texas.
The permits, issued under the Safe Drinking Water Act's Underground Injection Control program, are a critical component of Occidental’s plan to securely and durably store CO2 captured from the atmosphere. Throughout EPA’s rigorous review process, Occidental demonstrated that its technologies, processes, monitoring programs and other procedures meet or exceed federal and state requirements for injection wells that store CO2 in geologic formations more than one mile underground.
“This is a significant milestone for the company as we are continuing to develop vital infrastructure that will help the United States achieve energy security,” said President and Chief Executive Officer Vicki Hollub. “The permits are a catalyst to unlock value from carbon dioxide and advance Direct Air Capture technology as a solution to help organizations address their emissions or produce vital resources and fuels.”
STRATOS is designed to capture up to 500,000 tonnes of CO2 per year and is on-track to start commercial operations in 2025.
About Occidental
Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of America. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas, and includes our Oxy Low Carbon Ventures subsidiary, which is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. We are dedicated to using our global leadership in carbon management to advance a lower-carbon world. Visit Oxy.com for more information.
About 1PointFive
1PointFive is a Carbon Capture, Utilization and Sequestration (CCUS) company that is working to help curb global temperature rise to 1.5°C through the deployment of decarbonization solutions, including Carbon Engineering's Direct Air Capture and AIR TO FUELS™ solutions alongside geologic sequestration hubs. Visit 1PointFive.com for more information.
AIR TO FUELS™ is a registered trademark of Carbon Engineering ULC.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including those relating to Occidental’s and 1PointFive’s development and operation of STRATOS, permit benefits, and related impacts on carbon emissions and the production of low-carbon products, which are based on current expectations, beliefs, plans, estimates, and forecasts. All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. Words such as “believe,” “will,” “may,” “expect,” “plan,” or similar expressions that convey the prospective nature of events or outcomes are generally indicative of forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Occidental and 1PointFive do not undertake any obligation to update, modify, or withdraw any forward-looking statements as a result of new information, future events, or otherwise.
These statements are not guarantees of future performance as they involve assumptions that may prove to be incorrect and risks and uncertainties, including those that are beyond Occidental’s and 1PointFive’s control. Factors that may cause actual results to differ materially from forward-looking statements include Occidental’s and 1PointFive’s ability to develop and employ existing or new technology on a commercial scale, to access capital, to collaborate with third parties and customers, and to receive approvals from regulatory bodies, as well as market conditions, geopolitical events, and scientific developments. Additional factors that may affect Occidental’s and 1PointFive’s development and operation of STRATOS, the benefits of the permits and related impacts on carbon emissions and the production of low-carbon products can be found in Occidental’s filings with the U.S. Securities and Exchange Commission (SEC), which may be accessed at the SEC’s website at sec.gov. Information included herein is not necessarily material to an investor in Occidental’s securities.
Contacts
| Occidental Media | Occidental Investors |
| Eric Moses 713-497-2017 eric_moses@oxy.com | R. Jordan Tanner 713-552-8811 investors@oxy.com |
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