CO2 for Enhanced Oil Recovery

Overcoming Technical, Regulatory and Economic Barriers to Capitalize on CO2-EOR Business Opportunities

Tuesday, April 15, 2008

About

Flooding is the fastest growing EOR technique in the United States. While the number of thermal and chemical injection projects has decreased significantly since the 1980’s, CO2-EOR projects have more than tripled in the same amount of time.

With reaction to climate change intensifying, CO2 mitigation is becoming a hot button issue. Enhanced Oil Recovery (EOR) has long been a technique used to recover remaining oil. Global energy demand increases along with rising oil prices and new advances in MMV that improve the efficiency and accuracy of projects have greatly increased the commercial viability of CO2-EOR.

With carbon capture and storage projects becoming more prevalent, EOR provides a way to help offset the high costs of carbon capture. Additionally, sequestering CO2 provides a means to avoid contributing to greenhouse gases, and even the potential to receive carbon offsets.

Contents & Contributors

About

Flooding is the fastest growing EOR technique in the United States. While the number of thermal and chemical injection projects has decreased significantly since the 1980’s, CO2-EOR projects have more than tripled in the same amount of time.

With reaction to climate change intensifying, CO2 mitigation is becoming a hot button issue. Enhanced Oil Recovery (EOR) has long been a technique used to recover remaining oil. Global energy demand increases along with rising oil prices and new advances in MMV that improve the efficiency and accuracy of projects have greatly increased the commercial viability of CO2-EOR.

With carbon capture and storage projects becoming more prevalent, EOR provides a way to help offset the high costs of carbon capture. Additionally, sequestering CO2 provides a means to avoid contributing to greenhouse gases, and even the potential to receive carbon offsets.

Contents & Contributors

THE BUSINESS MODEL: ALIGNING THE VALUE CHAIN WITH MARKET OPPORTUNITIES TO CAPITALIZE ON CO2 FOR EOR
David H. Merchant, Merchant Consulting

CO2 SOURCE: SUPPLYING AND OBTAINING NECESSARY CO2 FOR EOR AND SEQUESTRATION
Mark Holtz, International Business
Development, EOR, Praxair, Inc.

DEMONSTRATING THE COMMERCIAL VIABILITY OF CO2-EOR
Geir Vollsaeter, Alston & Bird, LLP

REQUEST FOR PROPOSAL: THE CARBON OFFSET LIST
Scott Anderson, Environmental Defense

IMPLICATIONS OF THE CARBON ECONOMY ON CCS IN OIL AND WATER
Bill Townsend, Blue Source

CO2 ENHANCED OIL RECOVERY AND CARBON SEQUESTRATION
Dr. Carolyn Preston, Petroleum Technology Research Centre

CASE STUDY: MONITORING AN EOR PROJECT TO DOCUMENT SEQUESTRATION VALUE
Dr. Susan D. Hovorka, The University of Texas at Austin

EOR & CCS – A SAMPLE OF FEDERAL AND STATE LEGISLATION
George Peridas, Natural Resources Defense Council (NRDC)

WYOMING CARBON SEQUESTRATION LEGISLATION
Representative Thomas E. Lubnau, II, Wyoming House of Representatives

ALBERTA’S REDWATER-LEDUC REEF CO2 STORAGE INITIATIVE
Brent Lakeman, Alberta Research Council



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