JAPEX - Japan Petroleum Exploration Co. Ltd.

09/17/2024 | Press release | Distributed by Public on 09/16/2024 20:09

Entrustment a CCS engineering design work in Higashi-Niigata Area, as the “Engineering Design Work for Advanced CCS Projects” in FY2024

2024.9.17

Japan Petroleum Exploration Co., Ltd.
MITSUBISHI GAS CHEMICAL COMPANY, INC.
Tohoku Electric Power Co., Inc.
Hokuetsu Corporation

Japan Petroleum Exploration Co., Ltd. (JAPEX), MITSUBISHI GAS CHEMICAL COMPANY, INC. (MGC), Tohoku Electric Power Co., Inc. (TOHOKU-EPCO), and Hokuetsu Corporation (HC) (hereinafter the "Four Companies" for the four companies together) signed a contract with Japan Organization for Metals and Energy Security (JOGMEC) for an engineering design work of CCS (*1) (hereinafter the "Work") in the higashi-Niigata area, which is one of the public solicitations regarding the Request for Proposal on the "Engineering Design Work for Advanced CCS Projects" in the fiscal year 2024 (hereinafter the "Public Solicitation").

Following the feasibility study conducted last fiscal year(*2), the Four Companies will conduct "basic engineering design for CCS value chain" and "assessment on CO₂storage potential at the planned CO₂storage site" in higashi-Niigata area, which is a target region in the "Niigata Carbon Neutrality Site Development and Foundation Establishment Strategy" (*3) unveiled in March 2023 by Niigata Prefecture, aiming at launching a CCS project by 2030.

From now on, the Four Companies plan to examine the entire value chain of CO₂separation and capture, CO₂ transport and CO₂storage as part of "basic engineering design for CCS value chain."

Likewise, the Four Companies will carry out preparatory operations (e.g., construction work to prepare the site for an exploratory well) for appraisal work (an exploratory well(*4)), formulate a plan for procuring and storing the equipment and materials needed for the exploratory well, drilling the exploratory well, and analyze and assess the data obtained from the exploratory well as part of the "assessment on CO₂storage potential at the planned CO₂storage site."

Please refer to the appendix for each companies' role in the Work and each companies' profiles.

The Four Companies will make aggressive challenges towards "Carbon Neutrality in 2050" by realizing the advanced CCS project in the higashi-Niigata area through steady progress of the Work and by creating value adding business such as decarbonized fuel and environmental value with local characteristics.

Notes)

*1: Carbon dioxide Capture and Storage.

*2: Please refer to a joint press Entrust a Study in East-Niigata Area as the "Business Feasibility Study on Japanese Advanced CCS Project" in FY2023 by JOGMEC

*3: "Niigata Carbon Neutrality Site Development and Foundation Establishment Strategy"unveiled by Niigata Prefecture on March 31, 2023. *Japanese-language only

*4: Exploratory well is a drilling operation to gain a detailed understanding of underground structures, and is a drilling operation that does not involve CO₂ storage.

Please refer the PDF versionfor the outline.

Please note that the information in the news is as of the announcement date and may be subject to change without notice.

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