LONDON, October 28, 2025 – The Oil and Gas Climate Initiative (OGCI) has released a new report exploring the CO₂ storage potential of naturally reactive rock formations, potentially enabling an increase in the geographic distribution of CO₂ storage and accelerating progress towards net zero.
The report comes as industries and governments look for ways to expand CO₂ storage options to meet growing demand for large-scale CCUS projects. Naturally reactive rocks can allow projects to potentially avoid the need to transport captured CO₂ over long distances when suitable sedimentary storage sites are not easily accessible.
Expanding CO₂ Storage: The role of CO₂ mineralizing rocks such as basalts and peridotites, outlines how rocks that naturally react with CO₂ to form stable carbonates, such as basalts and peridotites, can provide permanent storage opportunities beyond traditional sedimentary basins.
This means that mineralizing formations could increase the world’s available CO2 storage capacity and open new pathways for CCUS in regions where conventional geological reservoirs are limited.
The report provides a comparative overview of the technical and permitting considerations needed to scale mineralization safely and effectively. It also identifies opportunities for collaboration between research institutions, industry and governments to advance pilot projects and build confidence in these emerging storage solutions.
This work supports OGCI’s goal to accelerate the deployment of large-scale CCUS hubs capable of capturing and permanently storing hundreds of millions of tonnes of CO₂ each year.
OGCI works across the CCUS value chain to enable and accelerate the scale-up of CCUS hubs. This includes working with industrial emitters in hard-to-abate sectors such as steel and cement, identifying new business models to develop CO₂ transport infrastructure, such as pipelines and shipping, and providing assessments of CO₂ storage potential to enable projects move forward.
OGCI’s members are involved in developing more than 50 CCUS hubs with potential to remove or reduce as much as 500 million tonnes of CO₂ per year by 2030.[1] These include Ravenna CCUS and Northern Lights in Europe, STRATOS and LaBarge in the US, Jubail in Saudi Arabia, Junggar in China and a CCUS pilot near Rio de Janeiro in Brazil.
[1]Based on reported CCUS projects which average 7.5-10 Mt each. See Chapter 3 of OGCI Progress Report for map detailing projects OGCI members companies are involved in developing.
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.
