Carbon TerraVault Joint Venture, a carbon management partnership between California Resources Corporation (CRC) and Brookfield, has announced the first carbon dioxide (CO₂) injection at its Carbon TerraVault I project, located at CRC’s Elk Hills Field in Kern County, California. The carbon capture and storage (CCS) project follows the receipt of required regulatory approvals and execution of key commercial agreements. It is the first operational CCS facility in California and is designed to capture and permanently store CO₂ from industrial sources in depleted oil and natural gas reservoirs more than one mile underground. At full capacity in the 26R reservoir, the project is expected to store up to 1.46 million metric tons of CO₂ annually — equal to taking nearly 350,000 cars off the road each year.
Latham & Watkins LLP represents Carbon TerraVault Joint Venture in the project with a corporate team led by New York partner JP Brisson and Orange County partner Joshua Bledsoe, with associates Tyler Krenek and Georgia Bellett.
