Buru Energy Ltd. won a government grant to undertake a feasibility study for a greenhouse gas (GHG) storage project in Western Australia’s onshore Carnarvon basin.
The offer is for matching funds of about $7 million over 3 years. Funding will be used to evaluate and quantify the GHG storage potential of geological reservoirs in the basin and is part of a Commonwealth Government initiative to facilitate the development of hydrogen production and GHG storage hubs in Western Australia.
GeoVault, a wholly owned subsidiary of Buru Energy, has been liaising with the government to ensure an appropriate legislative framework is put in place for onshore GHG geological storage projects, the company said in an Apr. 20 release.
Buru has identified potential geological storage reservoirs in the vicinity of its L20-1 petroleum permit application area near Onslow.
Finalization of the grant is subject to negotiation of legal documentation and approval by the Buru board.