ExxonMobil has secured the rights to the largest offshore carbon dioxide (CO₂) storage site in the US, following an agreement with the Texas General Land Office.

The move positions the company to inject CO₂ deep beneath the Gulf of Mexico's surface, potentially enhancing the region's carbon capture and storage (CCS) capabilities.

The lease allows ExxonMobil to access a vast area of more than 271,000 acres of land situated offshore in Jefferson, Chambers and Galveston counties where CO₂ will be injected into geologically secure strata approximately one to two miles (1.6km–3.21km) below the ocean's surface.

ExxonMobil Low Carbon Solutions president Dan Ammann said: “With our growing roster of customers ready to deploy CCS, we will be driving substantial emissions reductions along the Gulf Coast through a comprehensive solution that includes capture, transportation and storage capabilities.”

This offshore site is an extension of ExxonMobil's onshore CO₂ storage efforts and is expected to contribute to the US Gulf Coast's growing reputation as a hub for CCS technology.

The project aims to reduce emissions and foster community development in the surrounding regions.

Texas Land Commissioner Dawn Buckingham said: “As the steward of 13 million acres of energy-rich state land, I am proud to partner with ExxonMobil in utilising state land for innovative solutions that can help ensure future energy production. Energy independence is vital to ensuring our state and country remain economic leaders around the globe.”

In a related development, ExxonMobil, in partnership with Helleniq Energy, has progressed to the second stage of seismic research for natural gas exploration offshore Crete in Greece in a joint statement released on Thursday.