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Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/17701

Title: Geological uncertainty and investment risk in CO2-enhanced oil recovery
Authors: Welkenhuysen, Kris
Piessens, Kris
Ramirez, A.
Rupert, J.
Swennen, R.
Issue Date: 2014
Citation: 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
URI: http://hdl.handle.net/1942/17701
ISI #: 000361211508003
ISSN: 1876-6102
Category: C1
Type: Proceedings Paper
Validation: ecoom, 2016
Appears in Collections: Research publications

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