Japan Petroleum Exploration Co., Ltd. (JAPEX) has received the license from the Minister of Economy, Trade and Industry to conduct exploratory drilling as the operator to confirm the existence of formations suitable for CO2 storage.
This exploratory drilling concerns the designation by the Minister of Economy, Trade and Industry in February of this year of a specific area off the coast of Tomakomai City, Hokkaido, pursuant to the Act on Carbon Dioxide Storage Business (CCS Business Act).
During the exploratory drilling, JAPEX plans to drill a total of two test wells using a drilling rig and based on the results intends to make a final investment decision within 2026 fiscal year.
The omakomai CCS Project will separate and capture CO2 from Idemitsu Kosan Co., Ltd.'s Hokkaido refinery and Hokkaido Electric Power Co., Inc.'s Tomato Atsuma power station for injection and storage by JAPEX. Storage commencement is expected by 2030 according to the Japan Organization for Metals and Energy Security (JOGMEC) plan.
JAPEX said it is working towards commercialisation while seeking the understanding and cooperation of local stakeholders, including those in the fishing industry, as well as relevant municipalities and organizations.