05:45 PM EDT, 10/16/2025 (MT Newswires) -- California Resources ( CRC ) said late Thursday it broke ground for Carbon TerraVault I, a carbon capture and storage project in California.

The project will use existing facilities at California Resources' ( CRC ) Elk Hills site as a dedicated carbon dioxide storage hub capable of storing up to 1.6 million metric tons of CO2 annually, with total storage capacity reaching 38 million metric tons in the 26R reservoir., according to a statement.

First injection is expected in early 2026, the company said. CTV I is part of the Carbon TerraVault joint venture between California Resources ( CRC ) and Brookfield Asset Management ( BAM ) .