Carbon capture at commercial scale

Achieved COD on Dec. 29, 2016

• Captures approximately 1.6 million tons per year of carbon dioxide (CO2)

• CO2 is used to enhance oil production at the West Ranch Oilfield in Texas, the US

• Sequestering 5,200 tons of CO2 per day (equivalent of taking 350,000+ cars off the road)

ON TIME AND ON BUDGET

• 240MW equivalent CO2scrubber on a 640MW coal-fired power plant

Five Projects in One

1. Diverting the flue gas from an existing facility (W.A. Parish Unit 8)

2. Processing flue gas in a carbon capture system to strip out the CO2

3. Transport CO2 to a nearby oil field.

4. CO2-EOR operation to produce otherwise unrecoverable oil

5. Transport and sell oil – marketing, selling, and transporting the recovered oil

CO2 SourceWA Parish 8

1

CCS Facility2

CO2Pipeline

3

CO2 Flood

Oil Field

4

5

Oil revenues pay for the entire project No impact on

power plant or its costs

Converting CO2 to crude oil

Petra Nova Project Overview

Flue Duct

Quencher

Absorber RegeneratorCogeneration(steam & power)

CO2 Compressor

CO2 Pipeline

Carbon Capture System Site Layout

Flat terrain and flat topography through agricultural area

• 81 Miles (W.A. Parish to West Ranch)

• 12” diameter• .330 wall pipe (.406 on HDDs)• 1,900 psi at inlet

• Private pipeline• No condemnation power

CO2 Pipeline Route

West Ranch Field Development

• Field will be flooded using a “5-spot” pattern (each injector surrounded by 4 producers)

• A comprehensive monitoring, verification, and accounting plan is in place to track the flow of CO2 and to insure that it is sequestered in the reservoir.

• University of Texas Bureau of Economic Geology developed the monitoring plan to sync with oilfield operations.

Enhanced Oil Recovery Project

West Ranch Field Central Facilities

• 300+ new wells to be drilled (over 130 now complete)

• 2 central processing facilities to separate oil-CO2-water

• All produced CO2 and water is reinjected into the formation

Oilfield Facilities Recapture and Inject CO2

Petra Nova Parish Holdings LLC

Petra Nova Power I LLC

(COGEN facility)

Petra NovaCCS I LLC

(CCS facility)

Texas Coastal Ventures, LLC

50%

50%

Petra Nova LLC

100%

TCV Pipeline, LLC

West RanchOil Field

50%

DOE JBIC

Parish fence line

Our PartnersA core business company that engages in oil and natural gas exploration and production business in the JXTG Group, which is the leading integrated energy, resources and materials business group in Japan50%

JBIC and NEXI are wholly-owned by the Japanese government

US Department of Energy awarded $190 MM grant funded through Clean Coal Power Initiative

Hilcorp Energy Company is one of the largest privately-held oil and natural gas E&P companies in the US

NRG Energy, Inc. is the largest independent power company in the US

Commercial Structure

100%

100%

100%100%

West Ranch Oilfield - Central Processing Facilities #1 in Operation

• EOR Oil production has been confirmed.

• Recycling CO2 injection has been commenced.

West Ranch Oilfield - Test Sites in Operation

• 350,000 ston of CO2 from CCS has been already injected.

Post Start-up Preliminary Lessons Learned

• Contributing factors to “On Time/On Budget” included extensive up-front planning, turn-key contracting structure, and strong partners.

• “First-of-a-kind” projects require more time for commissioning and start-up than conventional projects.

• To the extent its economical, minimize single points of failure and include a robust spare part program for long-lead spares.

• EOR operations can be self-sustaining on recycled CO2 once a critical delivery amount has been achieved.

Thank you!

Petra Nova Carbon Capture and Enhanced Oil Recovery Project