Pilot Energy Limited has received approval for the Declaration of a Greenhouse Gas Storage Formation over the WA 31-L licence area in Australia. The approved storage capacity of 13.4 million tonnes for the Cliff Head Storage Formation is a key milestone for the MWCEP Cliff Head CO2 Storage project. This approval follows the November 2022 application to the National Offshore Petroleum Titles Administrator and is crucial for various commercial agreements related to the MWCEP. The Declaration is among the first of its kind for offshore CO2 storage in Australia, boosting confidence in the country's regulatory framework. Pilot Energy, in collaboration with Genesis, is set to finalize the Pre-FEED work stream by June 2024, allowing the MWCEP to progress to the next development phase involving stakeholder engagement and technology partner selection. Executive Chairman Brad Lingo expressed excitement over this milestone, emphasizing its role in advancing CCS and clean energy production in Australia. The project aims to enable emitters in Western Australia to reduce carbon emissions through cost-effective abatement and storage.