As the global push for decarbonization intensifies, Carbon Capture and Storage (CCS) technologies are emerging as a critical focus area for the oil and gas industry. While the sector traditionally grapples with significant emissions, CCS offers a potential pathway to dramatically reduce the carbon footprint of existing operations and even enable the production of ‘blue’ hydrogen. Recent developments show increased investment and pilot projects aimed at capturing CO2 directly from industrial sources, such as power plants and refineries, and storing it permanently underground.

The viability and scalability of CCS are subjects of ongoing debate, but proponents highlight its potential to address hard-to-abate emissions from heavy industries that cannot easily switch to renewable energy. Oil and gas companies, with their extensive experience in subsurface geology and large-scale infrastructure projects, are uniquely positioned to lead the development and deployment of these technologies. From enhanced oil recovery (EOR) using captured CO2 to dedicated geological storage sites, the industry is exploring various applications. The success of CCS will depend on continued technological advancements, supportive policy frameworks, and significant capital investment, but its role in achieving ambitious climate targets, particularly for the oil and gas sector, cannot be understated.