California Resources begins CO₂ injection at first carbon storage project

California Resources Corporation (NYSE: CRC) has started injecting carbon dioxide at Carbon TerraVault I, marking the first operational carbon capture and storage project in California. The facility is located at CRC's Elk Hills Field in Kern County.

The project sources CO₂ from CRC's cryogenic gas plant and stores it in a depleted oil and natural gas reservoir more than one mile underground. Carbon TerraVault I received final Class VI permits from the U.S. Environmental Protection Agency, making it the first reservoir in California to obtain such authorization.

At maximum capacity, the 26R reservoir component will store up to 1.46 million metric tons of CO₂ annually, with total storage potential of 38 million metric tons. The project comprises two depleted reservoirs designated "26R" and "A1-A2."

"First injection at CTV I demonstrates that California can lead on climate solutions that are practical, scalable and cost-effective," said CRC President and CEO Francisco Leon.

The Carbon TerraVault Joint Venture operates as a partnership between CRC, which holds a 51% stake, and Brookfield Asset Management, which owns 49%. CRC has submitted eight additional storage reservoirs for EPA Class VI permitting, representing approximately 352 million metric tons of potential CO₂ storage capacity.

As part of a community benefits plan, CRC committed over $1 million to support local communities across Kern County. A Community Advisory Council comprised of local stakeholders will be established during 2026 to evaluate regional needs.

The announcement was based on a company press release statement.

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