The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing Rights

U.S. oil and gas producer Occidental Petroleum (OXY.N) said on Tuesday BlackRock (BLK.N) would invest $550 million in the development of the carbon capture project, Stratos, in Texas.