Oxy CEO Vicki Hollub Advocates for EOR at DC Carbon Summit

Vicki Hollub, CEO of leading EOR producer Occidental Petroleum, said the application can lead to net-neutral CO₂ oil production, which will be critical to advancing the energy transition.

(Source: Hart Energy, Occidental Petroleum Corp., Shutterstock.com)

In order to fund the upwards of $200 trillion needed for the energy transition, understanding EOR is important, according to Vicki Hollub, president and CEO of Occidental Petroleum Corp. 

“What’s so important though about understanding that technology and understanding how it works and how to make it be productive and produce a lower carbon barrel of oil is to understand how CO₂ works in the reservoir,” Hollub said June 16 at the 10th Annual DC Forum on Carbon Capture and Storage, hosted by the Global Carbon Capture and Storage Institute.

“This is a message that if we’re unable to get the world to understand this message, then that’s what's going to make the energy transition much more difficult,” she added advocating for more widespread use of CO₂ in EOR, both to recover more carbon-neutral oil and to safely store carbon underground.

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Brian Walzel

Brian Walzel is senior editor for Hart Energy’s E&P Plus.