ExxonMobil secures largest CO2 offshore storage site in the U.S.
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- Exxon Mobil Corporation (NYSE:XOM) on Thursday said it has executed the largest offshore carbon dioxide (CO2) storage lease in the U.S. with the Texas General Land Office.
- The over 271,000-acre site would complement the onshore CO2 storage portfolio ExxonMobil is developing, and further solidifies the U.S. Gulf Coast as a carbon capture and storage leader, the company added.
- The terms of the agreement are aimed to benefit the Texas Permanent School Fund, Exxon said.
- Source: Press Release