—System has already prevented more than
300,000 tons of carbon dioxide from entering the atmosphere since
beginning operations—
Secretary of Energy Rick Perry and Governor of Texas Greg Abbott
joined the chief executive officers of the Petra Nova carbon
capture and enhanced oil recovery system partners – NRG Energy
(NYSE: NRG), JX Nippon Oil & Gas Exploration Corporation (JX
Nippon), and Hilcorp Energy – to celebrate the operations of the
carbon capture and enhanced oil recovery system.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170413006016/en/
U.S. Secretary of Energy Rick Perry
(right) joins NRG Energy CEO Mauricio Gutierrez (left) on a tour of
the Petra Nova carbon capture and enhanced oil recovery system on
Thursday, April 13, 2017, in Fort Bend County, southwest of
Houston. Petra Nova, a 50-50 joint venture by NRG Energy and JX
Nippon Oil & Gas Exploration, captures more than 90 percent of
CO2 from a 240 MW equivalent slipstream of flue gas off an existing
coal-fueled electrical generating unit at the WA Parish power plant
and uses it to increase oil production at a mature oil field owned
by Petra Nova and Hilcorp Energy. (Photo: Business Wire)
Petra Nova, a 50-50 joint venture by NRG and JX Nippon, is the
world’s largest carbon capture system retrofitted onto an existing
coal plant. It was constructed on-time and on-budget and commenced
operations at the end of 2016. The project has delivered more than
300,000 tons of carbon dioxide (CO2) to the West Ranch oil field.
The CO2 is injected into the oil reservoir to increase oil
production in an established process known as Enhanced Oil Recovery
(EOR).
“I commend all those who contributed to this major achievement,”
said Secretary Perry. “While the Petra Nova project will certainly
benefit Texas, it also demonstrates that clean coal technologies
can have a meaningful and positive impact on the Nation’s energy
security and economic growth.”
“Everything is bigger in Texas so it is fitting that the largest
post-combustion, carbon-capture facility in the world is right here
in the Lone Star State,” said Governor Abbott. “Texas has become a
global leader in innovation thanks to the pioneering spirits of
companies like NRG and JX Nippon who are fueling the next
generation of energy production through projects like Petra
Nova.”
“Petra Nova demonstrates our leadership on energy innovation at
commercial-scale,” said Mauricio Gutierrez, President and CEO of
NRG Energy. “We have built the largest carbon capture system on an
existing coal-fired power plant in the United States on-time and
on-budget. This further shows what can be achieved when
collaboration and competitive markets come together to make our
existing domestic energy infrastructure more secure and
sustainable.”
“JX Nippon is very pleased that the construction of Petra Nova’s
Carbon Capture System (CCS) was completed on-schedule and
on-budget,” said Shunsaku Miyake, President and CEO of JX Nippon.
“Also JX Nippon is delighted to say that shipping of oil produced
through enhanced oil recovery by means of CO2 injection, is
currently proceeding smoothly. This project enables us not only to
decrease greenhouse gas from the coal-fired power plant, but also,
at the same time to dramatically boost oil production. It is a
great honor for us, as a Japanese company, to participate in this
innovative project in Texas and we are grateful to Petra Nova Team
for this incredible opportunity.”
“We are excited to be a part of this project,” said Jeffery D.
Hildebrand, Chairman and CEO, Hilcorp Energy Company. “The CO2
delivered from Petra Nova to West Ranch will provide employment and
long term economic opportunity for both the local economy and the
State of Texas. We are proud of the fact that West Ranch has one of
the most extensive monitoring programs for an enhanced oil recovery
project in the United States, making sure that this project not
only provides greater energy security for our nation and an
economic benefit to the region but also is done in a safe and
environmentally responsible manner.”
Petra Nova captures more than 90% of CO2 from a 240 MW
equivalent slipstream of flue gas off an existing coal-fueled
electrical generating unit at the WA Parish power plant in Fort
Bend County, southwest of Houston. The project can capture more
than 5,000 tons of CO2 per day, or the equivalent of taking more
than 350,000 cars off the road.
Hilcorp, the operator of West Ranch oilfield, uses the captured
CO2 to boost production at West Ranch oilfield, jointly owned by
NRG, JX Nippon and Hilcorp. Both Hilcorp and the University of
Texas Bureau of Economic Geology are monitoring the movement of CO2
deep in the oil reservoir. Over the next few years, oil production
at the field is currently estimated to increase from approximately
300 barrels per day before beginning EOR operations to up to 15,000
barrels per day using captured CO2.
Photos/Multimedia Gallery
Availablehttp://www.nrg.com/generation/projects/petra-nova/news/
About NRG
NRG is the leading integrated power company in the U.S., built
on the strength of the nation’s largest and most diverse
competitive electric generation portfolio and leading retail
electricity platform. A Fortune 200 company, NRG creates value
through best in class operations, reliable and efficient electric
generation, and a retail platform serving residential and
commercial businesses. Working with electricity customers, large
and small, we continually innovate, embrace and implement
sustainable solutions for producing and managing energy. We aim to
be pioneers in developing smarter energy choices and delivering
exceptional service as our retail electricity providers serve
almost 3 million residential and commercial customers throughout
the country. More information is available at www.nrg.com. Connect
with NRG Energy on Facebook and follow us on Twitter
@nrgenergy.
About JX Nippon
JX Nippon Oil & Gas Exploration Corporation is a core
business company in the JXTG Group, which was established in April
2017 through a business integration of the JX Group and the
TonenGeneral Group. The JXTG Group is the leading “integrated
energy, resources and materials business group” in Japan. JX Nippon
Oil & Gas Exploration Corporation engages in oil and natural
gas exploration and production (E&P) business around the world.
In the U.S., JX Nippon owns assets in the Gulf of Mexico, ranging
from the continental shelf to deep water area. In addition, JX
Nippon participates in the Syncrude Project in Canada, which
produces synthetic crude oil from oil sand, and manages the project
at Houston office. More information is available at
www.nex.jx-group.co.jp/english.
About Hilcorp
Hilcorp, founded in 1989, is one of the largest privately-held
independent oil and natural gas exploration and production
companies in the United States. Hilcorp is consistently ranked as
one of the top places to work in America by multiple regional and
national publications. Headquartered in Houston, TX, with over
1,500 employees, Hilcorp has operations across the United States
including the Gulf Coast of Texas and Louisiana, Wyoming, Northeast
U.S. and both the Cook Inlet and North Slope of Alaska. More
information is available at www.hilcorp.com.
Safe Harbor
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward-looking
statements are subject to certain risks, uncertainties and
assumptions and include NRG’s expectations regarding the
post-combustion carbon capture unit at NRG’s WA Parish plant and
forward-looking statements typically can be identified by the use
of words such as “will,” “expect,” “believe,” and similar terms.
Although NRG believes that its expectations are reasonable, it can
give no assurance that these expectations will prove to have been
correct, and actual results may vary materially. Factors that could
cause actual results to differ materially from those contemplated
above include, among others, general economic conditions, hazards
customary in the power industry, competition in wholesale power
markets, the volatility of energy and fuel prices, failure of
customers to perform under contracts, changes in the wholesale
power markets, changes in government regulation of markets and of
environmental emissions, and our ability to achieve the expected
benefits and timing of the carbon capture-EOR projects. NRG
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. The foregoing review of factors that could cause
NRG’s actual results to differ materially from those contemplated
in the forward-looking statements included in this news release
should be considered in connection with information regarding risks
and uncertainties that may affect NRG’s future results included in
NRG’s filings with the Securities and Exchange Commission at
www.sec.gov.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170413006016/en/
NRG MediaDave Knox, 832-357-5735orNRG InvestorsKevin Cole, CFA,
609-524-4526Lindsey Puchyr, 609-524-4527
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