Ozona CCS LLC Forms Partnership with Marubeni Corporation to Develop Carbon Capture and Sequestration Projects in South Texas' Eagleford Basin [Yahoo! Finance]
MARUBENI CORP UNSP/ADR (MARUY)
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Source: Yahoo! Finance
SAN ANTONIO, September 25, 2024 BUSINESS WIRE )--Ozona CCS LLC ("Ozona" or "the Company") today announced it has reached a definitive agreement with a subsidiary of Marubeni Corporation ("Marubeni") to form a joint venture to pursue carbon capture and sequestration ("CCS") opportunities in the Eagleford Basin in South Texas. The joint venture is developing a project to sequester CO in the Eagleford Basin through the cooperation of the Ozona and Marubeni teams. Marubeni will provide technical, financial, and other assistance to Ozona to (i) identify and acquire pore space, (ii) permit sequestration wells, and (iii) engineer and procure facilities and pipelines needed for CCS projects. This joint venture allows Ozona to continue to develop its CCS projects in Texas. Ozona has identified several potential storage sites through an extensive review of the regional geology of the Eagleford trend. Ozona is in discussion with several large producers in the Eagleford Basin to capture, conce
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