The Oil and Gas Climate Initiative (OGCI) has published two new reports: one examining what happens after CO₂ injection stops at geological storage sites, and enablers to support effective site closure, and a second exploring consideration for the management and transfer of storage licences and liabilities.
As carbon capture, utilization and storage (CCUS) continues to scale globally, confidence in long-term storage will be essential for developers, regulators, insurers and wider stakeholders. OGCI’s member companies are involved in developing more than 50 CCUS hubs.
The new report, Geological storage post-injection risk and liability, developed with DNV, explores potential subsurface risks that can remain after injection ends. It considers how these risks evolve over time, and how good site selection, design, monitoring and management can effectively reduce or mitigate risks and uncertainty across the project lifecycle.
Drawing on expertise from across OGCI member companies, DNV’s technical knowledge and industry literature, the report finds that long-term geological storage is robust and that CCUS projects are low risk when sites are well selected, well designed and well managed.
The report is intended to be a useful reference document for regulators, project developers and insurers as they consider the principles, evidence and safeguards needed to support safe site closure and, where applicable, liability transfer.
It highlights that confidence in post-injection storage is built throughout the lifecycle of a project – from early site characterization and risk assessment through to monitoring, verification and closure.
Alongside this report, OGCI has also published Management and transfer of reservoir licences and liability study, prepared by Ashurst. The study provides a fact-based global overview of CCS licence management and liability frameworks across selected jurisdictions.
It shows that while legal regimes vary significantly, many follow common structural patterns in how responsibilities are allocated between current and former licence holders, future storage operators and governments. It also highlights practical issues that can affect project development, including licence transfer processes, post-closure responsibility, trailing liability and pore space ownership.
The reports form part of OGCI’s work to support practical action on CCUS, one of the key solutions needed to help decarbonize hard-to-abate sectors. By addressing both technical confidence and regulatory clarity, the reports aim to help stakeholders better understand the conditions needed for safe, long-term geological CO₂ storage.
About OGCI
The Oil and Gas Climate Initiative is a CEO-led initiative comprised of 12 of the world’s leading oil and gas companies, producing around 25% of global oil and gas on an operated basis.
OGCI aims to lead the oil and gas industry’s response to climate change and accelerate action towards a net zero emissions future consistent with the timeframe of the Paris Agreement.
Since 2017, OGCI members have reduced their aggregate methane intensity by 62%, routine flaring by 72%, and carbon intensity by 24% and shared best practices across the industry to accelerate emissions reductions.
OGCI members have also invested a cumulative total of $125 billion in low-carbon technologies and solutions since 2017.
In 2016, OGCI launched Climate Investments to manage a $1 billion fund to develop and accelerate the commercial deployment of low emissions technologies.
In 2023, OGCI helped establish the Oil & Gas Decarbonization Charter (OGDC), which was launched at COP28 in Dubai. OGDC is a coalition of 56 companies with activities across more than 100 countries working to decarbonize the oil and gas sector at scale.
OGCI’s members are Aramco, bp, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Shell and TotalEnergies.
Read more in OGCI’s latest annual Progress Report and see our current Performance Data here.
