Exxon recently auctioned off 94 deep wells in the Gulf of Mexico for oil and gas 360.

World Oil

HOUSTON (Bloomberg) – Exxon Mobile Corporation has offered a tender for 94 drilling rigs off shallow waters near the Texas coast, a major carbon imitation project near the Houston Industrial Corridor.

Source: Cross World Oil

On Wednesday, during the US Ocean Energy Administration’s lease sale, the oil explorer did not face any competition for lease contracts for submarine hills and valleys.

The auction was priced at $ 158,400 each and was well-known for its proximity to deep water zones that could accommodate large oil and natural gas fields.

Instead, the Exxon lease seems to be part of a larger carbon-holding facility near the Houston Ship Channel that collects millions of tons of emissions from filters and chemicals and is buried under the Gulf of Mexico.

Dow Inc., Chevron Corp., Phillips 66 and Calpine Corp. He is one of 11 companies registered to start discussions on the Exxon proposal.

Exxon claims to be a major bidder and refrains from disclosing its intentions to the firm.

“After the blocks are awarded, we will work on plans with the interior department,” said spokesman Todd Spitler via email. “Exxon Mobile takes a long-term business perspective. We are assessing seismic potential for future business.”

The planned facility will store 50 million tons of CO2 annually by 2030 and double that by 2040, says Exxon.

According to Oil Titan, significant $ 100 billion in government funding is needed to complete the $ 100 billion effort.

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