Benefits of investing in the Otway Stage 3 storage management and subsurface M&V project

Participants will gain significant intellectual property and learnings of workflows, regulatory frameworks, and technologies generated by the project. Joining the project with substantial contributions provides representation on the project’s steering committee having influence over the research direction (within the core concepts) and potential additional projects you may wish to bring to the site.

The learnings and outcomes from the Otway Stage 3 Storage Management & Subsurface M&V will assist any review of existing investor’s assets in the Bass Strait for re-development as a CO2 storage site. This may extend the life of the asset or possibly offset the cost of abandonment of the field, through its re-use.

An opportunity for investors to demonstrate leadership in winning the confidence of stakeholders and
directly influence policy-makers about the underlying value of carbon capture and storage as an option to reduce greenhouse gas emissions.

The monitoring technology and data analysis workflows may enable the re-development of depleted oil & gas assets to become CO2 storage sites, at reduced cost by utilising existing instrumented production wells in a novel way, or re-completing with a low-cost M&V system.

Building a low emissions future

Access to an M&V solution that offers a validated range of novel sub-surface monitoring tools and methodologies that provide unobtrusive, real-time, simplified monitoring of the storage complex. The ‘Toolbox’ will lead to significant reductions in the cost of long-term monitoring of CO2, and provide reassurance to regulators, operators and communities of the permanent containment within the storage site.

The opportunity to join the Otway Stage 3 Storage Management & Subsurface M&V Project Steering Committee and take an active role in guiding the development of the research and operations (within
the basic framework of the project) to help ensure investor’s interests in the field of CCS are addressed.

Access to a significant amount of intellectual property, learnings and workflows from the various research work streams associated with the Otway Stage 3 Storage Management & Subsurface M&V.
The technologies and methods being developed are largely based on familiar oil field technologies with novel and emerging workflows and interpretations. This approach makes it flexible to transfer to commercial operations both onshore and offshore.

Early access to the M&V regulatory regime standard which we will develop as part of this research program. We believe this regime will set the standard in M&V regulations and provide certainty to regulators and operators alike.

Access to leading researchers in Australia and internationally in the field of CCS. CO2CRC is a world leader in commissioning and facilitating collaborative research in this field. For the Otway Stage 3 Storage Management & Subsurface M&V project, we are proud to be working with organisations such as CSIRO, Geoscience Australia, Curtin University, The University of Melbourne, UWA, Lawrence Berkeley National Labs and, The University of Edinburgh amongst others.

The project will inject and monitor up to 40,000 tonnes of CO2, a commercially and scientifically relevant tonnage representing 1% of a year’s commercial activity.