Ozona, Marubeni Make Final Investment Decision on Texas Carbon Storage Project

Pawnee Project Will Capture and Permanently Store Carbon Dioxide in Bee County, With First Injection Targeted for Early 2027

SAN ANTONIO, Texas--(BUSINESS WIRE)--Ozona CCS LLC (“Ozona”) announced a final investment decision on the Pawnee Carbon Sequestration Project, a 50-50 joint venture with Marubeni Corp. (“Marubeni”) in Bee County, Texas. The project is designed to capture carbon dioxide from a StarTex Field Services natural gas treating facility, then compress, transport and permanently store it underground. Ozona will build and operate the facilities. The companies are targeting first injection in the first quarter of 2027.

The project will use O’Neal Gas Unit No. 4, an existing well repurposed for injection. The well and associated storage area has potential capacity of about 400,000 metric tons of carbon dioxide annually, Ozona said. An injection test into the Sligo Formation was successful.

“Pawnee moves our strategy from development into construction and ultimately operations,” Ozona CEO Rich Adams said. He said the project could expand as additional carbon dioxide sources are connected.

Marubeni will lead marketing and commercialization of carbon credits generated by the project. The companies also are evaluating other carbon capture and storage opportunities in Texas. Project timing, potential capacity and expansion plans are forward-looking statements and may change because of regulatory approvals, construction schedules, commercial arrangements, operating conditions and other factors.

About Ozona

Ozona CCS LLC is a San Antonio-based carbon management company focused on the development, construction and operation of carbon capture, transportation, utilization and sequestration infrastructure. Ozona brings together expertise in engineering, geology, land, permitting, environmental management, pipeline development, construction, and operations to provide integrated carbon management solutions for the energy and industrial sectors.

About Marubeni

Marubeni Corporation is a global trading and investment company headquartered in Tokyo, Japan. Through its extensive international business network, Marubeni conducts business and investment activities across a broad range of sectors, including energy and chemicals, power and infrastructure services, metals and mineral resources, food and Agri business, lifestyle, finance, leasing and real estate business, aerospace and mobility, and next generation business development and next generation corporate development.

Forward-Looking Statements

This release contains forward-looking statements regarding project schedules, anticipated CO₂ volumes, potential injection capacity, future expansion, additional CO₂ sources, and future project development. Actual timing, volumes, capacity utilization, and project development may vary based on regulatory approvals, engineering, construction schedules, commercial arrangements, operating conditions, and other factors.