ExxonMobil Low Carbon Solutions has announced a significant milestone in its carbon capture and storage efforts, securing a lease for over 271,000 acres of offshore CO2 storage in Texas state waters. This lease, executed with the Texas General Land Office, represents the largest of its kind in the U.S., marking a major addition to ExxonMobil’s CCS portfolio.
The agreement enhances ExxonMobil’s already robust pipeline and storage capabilities throughout the Gulf Coast region. By leveraging its expertise in subsurface operations, the company is well-positioned to provide comprehensive CCS solutions, including CO2 capture, transportation, and long-term storage for customers in hard-to-abate sectors.
In addition to advancing decarbonization efforts, the lease will also contribute to the Texas Permanent School Fund, supporting educational initiatives for children across the state. This agreement is yet another step in ExxonMobil’s commitment to real-world progress in the transition to a lower-carbon future.
For more information visit www.exxonmobil.com
