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http://hdl.handle.net/1942/17701
Title: | Geological uncertainty and investment risk in CO2-enhanced oil recovery | Authors: | Welkenhuysen, Kris COMPERNOLLE, Tine Piessens, Kris Ramirez, A. Rupert, J. Swennen, R. |
Issue Date: | 2014 | Source: | Energy Procedia 63, p.7878-7883 | Series/Report: | Energy Procedia | Series/Report no.: | 63 | Abstract: | CO2-enhanced oil recovery (CO2-EOR) has the potential to combine the environmental benefits of greenhouse gas emission reduction and the optimal use of natural resources. In economic simulations, CO2-EOR is generally approached in a classical way, with fixed parameters and limited flexibility. We propose a more realistic approach that combines realistic investment decision making with geological and techno-economic uncertainties. A cluster of seven active oil fields in the North Sea is simulated using a newly developed software tool, allowing to assess when EOR technology replaces primary production. CO2 can be delivered from different onshore locations via ship or pipeline. The introduction of near-realistic investment geological and economic risks in CO2-EOR projections will allow for in-depth assessment of CO2-EOR at the level of the North-Sea Basis, as well as of individual potential projects. | Notes: | Welkenhuysen, K (reprint author), Geol Survey Belgium, Royal Belgian Inst Nat Sci, Jennerstr 13, B-1000 Brussels, Belgium. kris.welkenhuysen@naturalsciences.be | Keywords: | CO2-EOR; geological storage; techno-economic simulation; North Sea | Document URI: | http://hdl.handle.net/1942/17701 | ISI #: | 000361211508003 | Rights: | © 2013 The Authors. Published by Elsevier Ltd. Selection and peer-review under responsibility of GHGT. | Category: | C1 | Type: | Proceedings Paper | Validations: | ecoom 2016 |
Appears in Collections: | Research publications |
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