112 0 Kommentare CEOs of Occidental and Worley on Building World’s Largest “Direct Air Capture” Facility and the Burgeoning Industry of Carbon Capture - Seite 3

“Once the direct air capture technology that we’re working on together is up and running and we clearly demonstrate that it works and is viable, the scaling opportunities are immense. The combination of the pace and skill will differentiate the opportunity that direct air capture provides.”

On investor reactions to direct air capture:

Vicki Hollub: “Because it’s a key part of what we do and because CO2 enhanced oil recovery is a core competence of ours, our investors understand that part of this will help us to lower our cost and CO2 operations which will generate about two billion barrels of resources that we can continue to develop in our EOR business. It’s a value-add for our shareholders.”

Chris Ashton: “If you look at the reports coming from the IEA, the latest IPCC, [and] technical journals, carbon capture is going to have to play a role if the world is going to meet net zero in 2050. Direct air capture and where we are working together with Oxy, and Carbon Engineering is absolutely part of that future. When we talk to our investors, they get very excited with the prospect that direct air capture brings and the fact that Worley, working collaboratively with Occidental, are good together and they see us as very much at the center of solving this challenge.”

On the state of U.S. shale:

Vicki Hollub: “Our investors are wanting us to approach our developments in a more prudent way and to ensure that we’re delivering a good return on capital employed. In the world that we’re in today with demand becoming closely balanced with supply, and ultimately in 2022 demand is going to exceed supply, as the world starts to pivot toward a more robust oil price, our investors will appreciate the discipline that we intend to demonstrate through this cycle. We know there could be a little inflation, but we expect and hope that we’ll continue to gain efficiencies that can partially offset that inflation to capture the value that shareholders deserve in this environment.”

On Occidental’s future as a carbon management company:

Vicki Hollub: “The carbon capture business is going to be an industry. It’s going to be a probably $3-5 trillion industry if you look at how much carbon capture is going to be needed around the world. We believe that our core competence and our infrastructure is such that we can start pivoting from an oil and gas company to carbon capture. We think ultimately, it’s going to generate as much earnings and cash flow as our oil business does today. We believe it’s a long-lasting business. In just the Permian Basin alone there’s 150 gigatons of storage capacity available. There’s a lot that we can do in just the Permian here in the United States.”