Occidental President and CEO Vicki Hollub has highlighted the role that direct air capture (DAC) will play in maximising revenues from existing oil reservoirs.
Speaking at Davos, in conversation with US Secretary of Energy Chris Wright, she outlined how “huge 25-foot diameter fans” can pull air through a contact tower, mix with fluids, and extract carbon dioxide that can be used in enhanced oil recovery in reservoirs.
“We believe that between 2027 and 2030 we are going to plateau in terms of production in the US so our energy depends on us getting more out of these reservoirs that we have today,” she said.
She estimated that the process could extract between 50 and 70 billion extra barrels with this process.
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