About the Newark Basin Study
In September 2009, the Department of Energy (DOE) awarded Sandia Technologies, LLC, and co-investigator Conrad Geoscience Corp. – a grant for geologic characterization of the Newark Basin. This grant was offered to determine if the basin has sufficient storage capacity and overlying confining seals, both of which are required for injecting and trapping large quantities of industrial carbon dioxide.
It is projected that the drilling phase will be completed by early 2011. Data analysis is expected
to be fully completed by December 2011.
The project, titled "Characterization of the Triassic Newark Basin in Southeastern New York/New Jersey," is funded is funded by the DOE under the American Recovery and Reinvestment Act of 2009. DOE has provided $9 million in grant funding, and the New York State Energy Research and Development Authority (NYSERDA) has committed $1.05 million to the project. An additional $1.25 million in cost sharing, including in-kind contributions – brings the value of the grant to $11.25 million.
Benefits to the Community
If carbon sequestration proves to be a viable option for mitigating and reducing large sources of greenhouse gas in the Newark Basin, then long-term jobs will be created, which will fuel a new growth sector of our economy. During the three-year life of the project, TriCarb estimates more than $500,000 in local business-to business spending on a variety of services, including equipment rentals, fuel, supplies, materials, services, restaurants and hotel stays. The project is expected to create approximately 16 person-years of employment.