Chevron Corp. has snagged a stake in three joint ventures to develop carbon capture projects offshore Australia.

The greenhouse gas (GHG) assessment permits granted to Chevron Australia Pty Ltd. are for offshore blocks covering nearly 7.8 million acres. Two permits are for work in the Carnarvon Basin off the northwestern coast and one is for the Bonaparte Basin in the Northern Territory.

“Chevron has a unique set of capabilities and relationships to support the further deployment of carbon capture and storage in Australia,” said Chevron’s Mark Hatfield, managing director of the  Australia Business Unit. “We look forward to working with our venture participants to assess the greenhouse gas storage potential within these titles, which we hope will benefit Australia and the...