CO2 Group’s wholly owned subsidiary, CO2 Australia is pleased to announce that the Management Services Deed relating to the establishment and management of a substantial mallee environmental planting for Woodside Burrup Pty Ltd has been executed. This formalises the detail of the ‘Offsets Program’ announced by CO2 Group on 7 November 2007. CO2 Group’s Chief Executive Officer, Mr Andrew Grant stated, “The finalisation of the formal agreement is a major milestone. This is a substantial contract for CO2 Group and we have committed considerable organisational resources to the project.” Under the proposed carbon offset program, CO2 Australia on behalf of Woodside, will establish and manage mallee environmental plantings. This carbon offset program will be established over the next 2 consecutive planting seasons (i.e. 2008 and 2009) with Woodside having an option to undertake additional plantings in the 2010 to 2012 planting seasons. The 2008 planting will take place in New South Wales, with all subsequent plantings in Western Australia. The first two consecutive years (2008 and 2009) of the program have an estimated value of approximately $25 million over a 50 year time frame, with the majority of the value being generated in the first 2 years. Should Woodside exercise … Continue reading CO2 Australia finalises offset contract with Woodside Energy