The maturing carbon market is a major driver for deployment of carbon capture, utilization, and storage (CCUS) projects. Both the subsurface technical knowledge and related data sets of the petroleum industry are major inputs required for the world to successfully move towards a carbon-neutral and sustainable energy future. CCUS has experienced growing interest over the past two decades, due to the desire to reduce CO₂ emissions and to make industrial sources more environmentally sustainable. More recently, policy instruments such as the expanded Section 45Q federal tax credits - up to $35 per tonne for EOR and $50 for geologic storage - and carbon credit mechanisms such as California’s Low Carbon Fuel Standard (LCFS) are providing opportunities that offset deployment costs and can result in CCUS being a potentially profitable enterprise.
Carbon, Capture, Utilization, and Storage (CCUS) is happening 25–27 April 2023 at the University of Houston in Houston, Texas. Themed "An Emerging Field for Energy Professionals," this in-person event will unite AAPG, SPE, and SEG and highlight current CCUS work and address related challenges.