Company and Oxy Reduced Carbon Ventures Indication Letter of Intent for Gulf Coast CO2 Transportation and Sequestration Undertaking

HOUSTON, April 25, 2022–(Small business WIRE)–Company Items Operating LLC (“Company”), a subsidiary of Company Merchandise Companions L.P. (NYSE: EPD), and Oxy Very low Carbon Ventures, LLC (“OLCV”), a subsidiary of Occidental (NYSE: OXY), these days introduced they have executed a letter of intent to get the job done toward a prospective carbon dioxide (“CO2“) transportation and sequestration solution for the Texas Gulf Coastline. The joint challenge would initially be focused on providing services to emitters in the industrial corridors from the bigger Houston to Beaumont/Port Arthur spots. The initiative would combine Enterprise’s management posture in the midstream vitality sector with OLCV’s intensive encounter in subsurface characterization and CO2 sequestration.

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Enterprise would acquire the CO2 aggregation and transportation community using a mix of new and present pipelines together its expansive Gulf Coast footprint. OLCV, via its 1PointFive enterprise device, is developing sequestration hubs on the Gulf Coastline and across the U.S., some of which are expected to be anchored by direct air seize (“DAC”) amenities. The hubs will deliver access to significant high quality pore space and effective transportation infrastructure, bringing more options to emitters hunting to investigate feasible carbon management strategies. Business and OLCV have started discovering the commercialization of the likely joint assistance offering with clients.

“For several a long time, Organization and Oxy have effectively collaborated in acquiring regular oil and gas tasks,” claimed A.J. “Jim” Teague, co-main government officer of Enterprise’s general companion. “We are psyched to evolve that romantic relationship with OLCV to deliver reliable and price-successful CO2 transportation and sequestration products and services to advance a reduced-carbon economic climate for the electricity funds of the planet.”

“We seem ahead to collaborating with Business to build a sequestration option to assist industrial emitters access their internet-zero objectives,” claimed Richard Jackson, president, U.S. Onshore Resources and Carbon Management, Functions, Occidental. “We believe that our minimal-carbon method boosts Oxy’s business enterprise worth and results in a path to internet zero for ourselves while providing corporations everywhere you go with the resources they will need to attain web-zero or net-destructive emissions.”

About Enterprise Items Companions L.P.

Enterprise Products and solutions Associates L.P. is one particular of the biggest publicly traded partnerships and a foremost North American supplier of midstream electrical power companies to producers and consumers of natural gas, NGLs, crude oil, refined items and petrochemicals. Services include: organic gas accumulating, treating, processing, transportation and storage NGL transportation, fractionation, storage and maritime terminals crude oil gathering, transportation, storage and maritime terminals petrochemical and refined products output, transportation, storage, and maritime terminals and relevant companies and a maritime transportation small business that operates on critical U.S. inland and intracoastal waterway units. The partnership’s property consist of extra than 50,000 miles of pipelines around 260 million barrels of storage capability for NGLs, crude oil, refined goods and petrochemicals and 14 billion cubic ft of purely natural gas storage capability. Remember to visit www.enterpriseproducts.com for far more info.

About Oxy Small Carbon Ventures

Oxy Minimal Carbon Ventures (OLCV) is a subsidiary of Occidental (Oxy), an international electricity organization with assets largely in the United States, the Middle East and North Africa. OLCV is concentrated on advancing chopping-edge, low-carbon systems and enterprise answers that enhance Oxy’s enterprise though minimizing emissions. OLCV also invests in the development of minimal-carbon fuels and goods, as nicely as sequestration providers to support carbon seize tasks globally. Visit Carbon Innovation on oxy.com for additional data.

This press launch consists of “ahead-seeking statements” as outlined by the Securities and Exchange Commission. All statements, other than statements of historic simple fact, included herein that deal with functions, occasions, developments or transactions that EPD and its typical companion and Oxy hope, imagine or anticipate will or could manifest in the future are forward-searching statements. These ahead-searching statements are matter to risks and uncertainties that may perhaps trigger genuine success to vary materially from expectations, which includes expected approvals by regulatory agencies, the chance that the expected gains from this sort of things to do, situations, developments or transactions cannot be totally realized, the likelihood that expenditures or issues similar thereto will be bigger than anticipated, the impression of level of competition, and other hazard factors included in EPD’s and Oxy’s respective stories submitted with the Securities and Trade Commission. Viewers are cautioned not to position undue reliance on these ahead-on the lookout statements, which converse only as of their dates. Other than as expected by legislation, EPD and Oxy do not intend to update or revise their respective forward-looking statements, whether as a final result of new information, upcoming activities or or else.

View supply edition on businesswire.com: https://www.businesswire.com/news/dwelling/20220425005930/en/

Contacts

Organization
Randy Burkhalter, Trader Relations, (713) 381-6812 or (866) 230-0745, [email protected]
Rick Rainey, Media Relations, (713) 381-3635, [email protected]
Oxy
Jeff Alvarez, Investor Relations, (713) 215-7864, [email protected]
Eric Moses, Media Relations, (713) 497-2017, [email protected]

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