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Market Chatter: Inpex Starts Trial Seabed Drilling for Carbon Capture Project

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Inpex (TYO:1605) has commenced trial seabed drilling near Chiba prefecture for a carbon capture and storage initiative aimed at helping hard-to-decarbonize industries like steelmaking, Nikkei Asia reported on Wednesday, citing a top official.

Inpex subsidiary Metropolitan CCS is handling the operation, which involves drilling to a depth of 1,900 meters to assess geological suitability for long-term CO2 sequestration, the news agency said, citing Yoshiaki Oku, president of Metropolitan CCS.

The company will evaluate the site by injecting seawater into rock formations, with data analysis expected to take one to two years before determining commercial viability, the publication said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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