Odessa Development Corporation is going to partner with a Houston-based company to build a low carbon gasoline plant in Ector County near Penwell.

According to NewsWest 9, the project has a price tag of over $6 billion and is planned to be divided up into two phases to produce gasoline from natural gas.

Phase one plans a production of 70,000 barrels per day, while phase two will ramp up the production to 100,000 barrels per day.

Penwell has been selected by the Odessa Development Corporation and Nacero, Inc. out of Houston as the perfect place for such a project.

“Ector County is the ideal location for us,” said Nacero President and Chief Executive Officer Jay McKenna. “From a geographic and logistics standpoint you can’t beat it. We will be a major new market and beneficial home for the natural gas that is currently flared in the Permian Basin. Our zero-sulfur gasoline will reduce ground level ozone in cities across Texas and the Southwest, which is causing illness and limiting economic growth.”

Nacero, Inc. plans to team up with the community and education organizations to teach the purpose of the plant.

“On behalf of the City of Odessa, we are very proud that Nacero has selected our community as the home for a first of its kind high-tech manufacturing facility in the State of Texas," said Odessa Mayor Javier Joven. "This is an incredible project that advances the status of the Permian Basin, in particular Odessa, as a regional hub for energy innovation. We are grateful for Nacero for this significant investment that will have a tremendous impact on our local economy.”

No date of completion has been established as of now.

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