Oxy Low Carbon Ventures, subsidiary and Weyerhaeuser Company,  an American timberland company, announced an agreement for the evaluation and potential development of a carbon capture and sequestration project in Livingston Parish, Louisiana. The lease agreement provides Oxy Low Carbon Ventures with exclusive rights to develop and operate a carbon sequestration hub on more than 30,000 acres of subsurface pore space controlled by Weyerhaeuser. Oxy Low Carbon Ventures will use the land to permanently sequester industrial carbon dioxide (CO2) in underground geologic formations not associated with oil and gas production, while Weyerhaeuser continues to manage the aboveground acreage as a working forest.