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OilCo and Beicip-Franlab release carbon dioxide storage assessment of offshore Newfoundland

By June 11, 2024News

June 11, 2024: Released at the Energy NL Conference in early June 2024, this project aimed to quantify the carbon dioxide (CO2) storage potential of offshore Newfoundland within an area that encompasses the Orphan, Jeanne d’Arc, Flemish Pass, Carson Bonnition, and Salar basins.

From 2015 to 2022, this area has been the subject of several regional petroleum resource evaluation studies. For efficiency reasons, it was decided to integrate the data and results of these different studies into a single database that serves as the basis for this evaluation of CO2 storage capacities.

While more work is required to mature these areas, this project shows that the CO2 storage potential of offshore Newfoundland is significant.

The full report is available here.