Nebraska Carbon Dioxide Storage and Secondary Recovery Unit Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-950
• Format: Word; Rich Text

Description

This form is a carbon dioxide storage and secondary recovery unit agreement. The Nebraska Carbon Dioxide (CO2) Storage and Secondary Recovery Unit Agreement is a legally binding contract that governs the storage and utilization of carbon dioxide in Nebraska. This agreement outlines the terms and conditions between the parties involved, including the proprietor of the CO2 storage unit and the secondary recovery unit operator. The primary objective of this agreement is to establish a framework for the safe and efficient storage of carbon dioxide, while also facilitating its use for secondary recovery operations in oil and gas fields. By storing and injecting CO2 into suitable geological formations, this agreement aims to reduce greenhouse gas emissions and promote sustainable energy practices. Under the Nebraska Carbon Dioxide Storage and Secondary Recovery Unit Agreement, there may be different types or variations based on specific considerations, such as: 1. Storage Facility Type: The agreement may define the type of CO2 storage facility used, which can vary depending on factors like geological characteristics, capacity, and accessibility. Examples include depleted oil and gas reservoirs, deep saline aquifers, and enhanced oil recovery (FOR) projects. 2. Storage Capacity and Period: This agreement can specify the volume of CO2 that will be stored, the maximum storage capacity of the facility, and the duration of the CO2 storage operations. These parameters may vary depending on the objectives of the project and the anticipated CO2 injection rates. 3. Rights and Obligations: The agreement will outline the rights, duties, and responsibilities of each party involved in the CO2 storage and secondary recovery operations. This can include obligations related to monitoring and reporting, compliance with government regulations, liability and indemnification provisions, and financial responsibilities. 4. CO2 Injection and Monitoring: The agreement may describe the procedures for injecting CO2 into the designated storage formation, including the injection rate, pressure monitoring, and containment measures. It can also outline the requirements for monitoring the injected CO2 to ensure its safe confinement and prevent any leaks or migration. 5. Secondary Recovery Operations: If the stored CO2 is intended for secondary recovery operations in oil and gas fields, the agreement should address the details of these operations. This can include the rights and obligations of the secondary recovery unit operator, production sharing agreements, production targets, and revenue distribution mechanisms. 6. Regulatory Compliance: The Nebraska Carbon Dioxide Storage and Secondary Recovery Unit Agreement will also address compliance with relevant state and federal regulations, permits, and licenses required for CO2 storage and secondary recovery activities. It will ensure that all operations are conducted within the legal framework and in adherence to environmental and safety standards. In summary, the Nebraska Carbon Dioxide Storage and Secondary Recovery Unit Agreement is a comprehensive contract that establishes the terms, rights, and obligations for the safe and sustainable storage and utilization of carbon dioxide in Nebraska. By implementing such agreements, Nebraska aims to contribute to global efforts in reducing greenhouse gas emissions and advancing sustainable energy practices.

The Nebraska Carbon Dioxide (CO2) Storage and Secondary Recovery Unit Agreement is a legally binding contract that governs the storage and utilization of carbon dioxide in Nebraska. This agreement outlines the terms and conditions between the parties involved, including the proprietor of the CO2 storage unit and the secondary recovery unit operator. The primary objective of this agreement is to establish a framework for the safe and efficient storage of carbon dioxide, while also facilitating its use for secondary recovery operations in oil and gas fields. By storing and injecting CO2 into suitable geological formations, this agreement aims to reduce greenhouse gas emissions and promote sustainable energy practices. Under the Nebraska Carbon Dioxide Storage and Secondary Recovery Unit Agreement, there may be different types or variations based on specific considerations, such as: 1. Storage Facility Type: The agreement may define the type of CO2 storage facility used, which can vary depending on factors like geological characteristics, capacity, and accessibility. Examples include depleted oil and gas reservoirs, deep saline aquifers, and enhanced oil recovery (FOR) projects. 2. Storage Capacity and Period: This agreement can specify the volume of CO2 that will be stored, the maximum storage capacity of the facility, and the duration of the CO2 storage operations. These parameters may vary depending on the objectives of the project and the anticipated CO2 injection rates. 3. Rights and Obligations: The agreement will outline the rights, duties, and responsibilities of each party involved in the CO2 storage and secondary recovery operations. This can include obligations related to monitoring and reporting, compliance with government regulations, liability and indemnification provisions, and financial responsibilities. 4. CO2 Injection and Monitoring: The agreement may describe the procedures for injecting CO2 into the designated storage formation, including the injection rate, pressure monitoring, and containment measures. It can also outline the requirements for monitoring the injected CO2 to ensure its safe confinement and prevent any leaks or migration. 5. Secondary Recovery Operations: If the stored CO2 is intended for secondary recovery operations in oil and gas fields, the agreement should address the details of these operations. This can include the rights and obligations of the secondary recovery unit operator, production sharing agreements, production targets, and revenue distribution mechanisms. 6. Regulatory Compliance: The Nebraska Carbon Dioxide Storage and Secondary Recovery Unit Agreement will also address compliance with relevant state and federal regulations, permits, and licenses required for CO2 storage and secondary recovery activities. It will ensure that all operations are conducted within the legal framework and in adherence to environmental and safety standards. In summary, the Nebraska Carbon Dioxide Storage and Secondary Recovery Unit Agreement is a comprehensive contract that establishes the terms, rights, and obligations for the safe and sustainable storage and utilization of carbon dioxide in Nebraska. By implementing such agreements, Nebraska aims to contribute to global efforts in reducing greenhouse gas emissions and advancing sustainable energy practices.