California Resources Corporation - Carbon TerraVault

Vaults

CRC has applied for several Class VI permits to the U.S. Environmental Protection Agency (EPA) for underground storage vaults across California, in the San Joaquin and Sacramento basins. Once permitted, these vaults will have the ability to permanently store carbon dioxide (CO₂) from industrial sources in deep, depleted underground reservoirs.

Carbon TerraVault Potential Storage Capacity

46 MMT

23 MMT

71 MMT

34 MMT

17 MMT

TOTAL POTENTIAL CAPACITY (as of Q2 2023) = 191 MMT

CTV I

CRC has applied for permits and the environmental review has begun for two initial permanent carbon capture and storage (CCS) vaults, collectively referred to as Carbon TerraVault I (CTV I), located within CRC's proposed Net Zero Industrial Park at the Elk Hills Field in Kern County. This park is a growing assemblage of emerging green projects that have — and will continue to — come to Kern County as a Carbon Management Center of Excellence in California. Industries are attracted not only by Elk Hills’ reservoirs, but also by a well-understood permitting path that adheres to California’s stringent environmental regulations. These are ideal conditions for CCS projects with companies that are leading the energy transition in California and beyond.

With a total estimated capacity of up to 46 million metric tons(MT) of storage, CTV I is expected to be capable of injecting over 1 million metric tons (MT) of CO₂ per year, equivalent to the annual emissions of approximately 200,000 passenger vehicles.

In December 2022, Carbon TerraVault JV Holdco, LLC (CTV JV) entered into a Carbon Dioxide a Management Agreement (CDMA) with Lone Cypress Energy Services, LLC. The Lone Cypress Hydrogen Project will sequester 205,000 MT of CO₂ per annum from a newly constructed blue hydrogen plant at the Elk Hills field.

In May 2023, CTV entered into a CDMA with InEnTec, Inc., to build a new renewable dimethyl ether (rDME) production facility at CRC's Net Zero Industrial Park in Kern County. CTV will sequester initially a minimum 100,000 MT of CO₂ per annum from the InEnTec Facility in the CTV I carbon storage vault. CRC also entered into a CDMA with bioenergy development company Yosemite Clean Energy.

In July 2023, CTV JV entered into a CDMA with Verde Clean Fuels to sequester a minimum of 100,000 metric tons of CO₂ per annum at the CTV I vault from a new renewable gasoline plant to be constructed at the Net Zero Industrial Park.

CCS projects can have immediate and long-lasting environmental, economic, and employment benefits to nearby communities. The Elk Hills Field is of particular focus given the ample availability of multiple depleted reservoirs. The rural Elk Hills oil complex spans nearly 75 square miles, with no burden on local communities, and includes more than 25,000 acres of habitat conservation lands.

CTV II & III

In May 2022, CRC applied for two Class VI permits for 94 million metric tons of permanent CO₂ storage for two new CCS vaults - CTV II and Ill - in the Sacramento basin.

In January 2023, CRC entered into a CDMA with independent clean-tech company Grannus, LLC. The Grannus Blue Ammonia and Hydrogen Project will sequester 370,000 MT of CO₂ per annum at CTV III from a new blue ammonia and hydrogen plant to be constructed in Northern California to supply the agriculture, mobility and marine fuel markets.

CTV IV

In May 2023, CRC applied for a Class VI permit for 34 million MT of permanent CO₂ storage for the CTV IV CO₂ reservoir in the Sacramento Basin.

CTV V

In August, 2023, CRC applied for a Class VI permit for 17 million MT for the CTV V CO₂ reservoir in the Sacramento Basin.

The Elk Hills Field is "one of the premier CO₂ sequestration sites in the U.S. ...an optimal site for the safe and secure sequestration of CO₂"
California Energy Commission

As we transition toward a net zero future, we believe low carbon and net zero solutions such as our Carbon TerraVault CCS projects can create additional energy transition jobs in our state while also providing Californians with fuel that has a substantially lower carbon intensity than that of an imported barrel, further lowering our overall carbon emissions as well as the state’s carbon emissions.

Together We Power California

CRC's workforce is dedicated to helong the state and out local communities safely advance solutions for reducing emissions in California aligned with the state’s emissions reduction goals.

I’m honored to be able to help provide innovative decarbonization technology solutions like Carbol TerraVault that’s going to revolutionize how we combat climate change here in California.

Juan Campos
Vice President, Health, Safety and Environmental (HSE), and Sustainability