Diversified investment company BPH Energy (ASX: BPH) has revealed its 36% owned oil and gas subsidiary Advent Energy is gaining the right to acquire a 30% stake in three offshore New Zealand petroleum exploration permits from Austrian major OMV.
BPH Energy announces carbon capture expert appointment to Sydney Basin gas project
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Professor Peter J Cook, an Australian expert on carbon capture and storage (CCS), will join the team working to develop the huge PEP-11 gas field in the Offshore Sydney Basin, stakeholder BPH Energy (ASX: BPH) has announced.
BPH owns almost 23% of Advent Energy, the unlisted oil and gas company based in Perth, which, in turn, holds an 85% interest in PEP 11, with Bounty Oil and Gas (ASX: BUY) owning the remaining stake.
PEP 11 covers 4,576 square kilometres.
In September, BPH presented a carbon capture plan for a third of Australia’s greenhouse gas emissions using the planned Baleen gas drilling program in the offshore Sydney Basin.