Geological carbon capture and storage (CCS) is an emerging technique that captures CO₂ emissions from industrial sources, transports them, and injects them into deep subsurface formations for long-term containment. This study presents a preliminary assessment of the CO₂ storage capacity in an area of 2,180 km² located north of Punta Arenas, within the Magallanes Basin. Using stratigraphic, well, and subsurface data from ENAP’s exploration database, the study identifies two main storage targets: deep saline aquifers and coal seams. Sandstones of the Upper Eocene Loreto Formation show favorable reservoir properties, with average porosity of 19% and net sand thicknesses around 200 m, suitable for CO₂ injection in supercritical state below 750 m depth. Coal seams from the Loreto and El Salto formations also present potential as CO₂ sinks through methane displacement and adsorption mechanisms. The estimated storage capacity exceeds 900 Mt of CO₂ in saline aquifers and 58 Mt in coal beds, demonstrating the significant potential of the Magallanes Basin for geological CO₂ sequestration and its relevance to Chile’s national climate strategy