Eneva, a Brazilian company, will search for carbon and gas storage reservoirs in the Parana basin

A Brazilian oil company, Eneva, has begun an exploratory campaign to find natural gas in Parana Basin. This could lead the company into the carbon capture market.

Frederico Miranda said that the first phase of the campaign began last month, and will last for about one year and half. It is expected to cost around 200 million Reais ($36.66m), according to Frederico.

Miranda stated that the firm would also be looking for saline reserves which could be used in carbon dioxide storage and capture projects.

Miranda said that they would be looking for natural gas. However, the information they gather can also help them evaluate the carbon storage and capture project.

Miranda said that the firm was in discussions with players from the ethanol sector located in the Parana Basin who are interested in decarbonizing the activities of their companies.

Miranda stated that while it may not have been financially profitable to only prospect for carbon capture projects in the Parana Basin, the search for gas added more value to the project.

According to ANP data, Eneva expects to begin drilling in 2027. This would make it the first company in more than two decades to drill in the basin.

(source: Reuters)