Regulation of the Minister of Energy and Mineral Resources no. 2 of 2023 concerning Implementation of Carbon Capture and Storage, as well as Carbon Capture, Utilisation and Storage in Upstream Oil and Gas Business Activities.

This Ministerial Regulation, in order to comply with the goals of the Paris Agreement on the United Nations Working Convention on Climate Change, aims at reducing greenhouse gas emissions through the injection and storage of carbon emissions in the working area, and the increasing of oil and natural gas production. The Regulation defines the following relevant terms: petroleum; natural gas; carbon economic value, as the value of each unit of greenhouse gas emissions resulting from human activities and economic activities; greenhouse gas emissions; injection target zone, as a rock unit in a geological formation capable of containing injected carbon emissions safely; salty aquifer, as a geological formation containing underground sources of salt water; data and information on mitigation and adaptation actions; exploration; cooperation contracts for exploration activities; monitoring activity. Matters covered by this Regulation include: carbon emissions capture; transport of carbon emissions; utilisation of carbon emissions; environmental planning and implementation of plans for carbon utilisation and storage; funding measures and emission trading as source of monetisation of carbon activities; emergency response system to deal with dangerous conditions;sanctions.