The Brazilian energy giant Petrobras $PETR3 (-1,84%)
$PETR4 (-1,25%) has set a new milestone in the reinjection of carbon dioxide (CO2) into the pre-salt layer of the Santos Basin thanks to 22 floating production, storage and offloading (FPSO) vessels that capture and re-inject CO2 off the Brazilian coast. The company is pursuing the combination of carbon capture, utilization and storage (CCUS) with enhanced oil recovery (EOR) to bring low-carbon barrels to market.
According to the Brazilian giant, 14.2 million tons of CO2 were injected into the pre-salt reservoirs of the Santos Basin last year, exceeding the 13 million tons of CO2 in 2023. Petrobras is not only a pioneer in the field of ultra-deep waters, but also claims that its program is the largest in the world in terms of the amount of CO2 injected annually.
According to the latest report by the Global CCS Institute (GCCSI), the annual injection capacity of CCUS projects in operation worldwide will reach 51 million tons of CO2 in 2024. The results of injection into pre-salt reservoirs represent more than a quarter (28%) of the global capacity reported for 2024.