Optimization of the Net Present Value of Carbon Dioxide Sequestration and Enhanced Oil Recovery

2011 ◽  
Author(s):  
Hamid Reza Jahangiri ◽  
Dongxiao Zhang
Keyword(s):  
Carbon Dioxide ◽  
Enhanced Oil Recovery ◽  
Oil Recovery ◽  
Net Present Value ◽  
Carbon Dioxide Sequestration ◽  
Present Value

scholarly journals Techno-economic analysis of intermediate hydrocarbon injection on coupled CO2 storage and enhanced oil recovery

2020 ◽  
pp. 014459872092707 ◽  
Author(s):  
Jinhyung Cho ◽  
Moon S Jeong ◽  
Young W Lee ◽  
Hye S Lee ◽  
Kun S Lee
Keyword(s):  
Economic Evaluation ◽  
Economic Analysis ◽  
Enhanced Oil Recovery ◽  
Mole Fraction ◽  
Oil Recovery ◽  
Net Present Value ◽  
Geological Storage ◽  
Liquefied Petroleum Gas ◽  
Present Value ◽  
Oil Viscosity

This study proposes economic evaluation of CO2 geological storage with enhanced oil recovery. The procedures consider capital expenditures and operating costs of infrastructures and revenues from oil recovery and carbon tax credits. Extensive CO2 geological storage with enhanced oil recovery simulations was conducted to determine the most promising scenario among cases, where miscibility was controlled by the addition of liquefied petroleum gas. The addition of liquefied petroleum gas into a CO2 injection stream can accelerate reduction of oil viscosity, interfacial tension, and oil density, which cause improved displacement efficiency. The larger was the amount of liquefied petroleum gas injected, the greater was the miscibility due to minimum miscibility pressure reduction, resulting in higher oil recovery and less CO2 sequestration. Although liquefied petroleum gas addition enhances the performance of CO2 enhanced oil recovery, economic analysis should be conducted for CO2 geological storage with enhanced oil recovery due to the higher price of liquefied petroleum gas than that of CO2. Net present value decreased from liquefied petroleum gas mole fraction of 0–2% and started to increase from mole fraction 2–13% due to the miscibility effect. Then, net present value started to decrease, because the purchasing and injecting prices of the required liquefied petroleum gas exceeded that of the oil produced. Economic evaluation showed that addition of 13% liquefied petroleum gas was the most promising scenario, with a net present value of 91 MM$. Thus, we confirmed an optimum liquefied petroleum gas concentration in the CO2 geological storage with enhanced oil recovery process.

scholarly journals Laboratory evaluation of hybrid chemical enhanced oil recovery methods coupled with carbon dioxide

2021 ◽  
Vol 7 ◽  
pp. 960-967
Author(s):  
Mohammad Hossein Ahmadi ◽  
S.M. Alizadeh ◽  
Dmitry Tananykhin ◽  
Saba Karbalaei Hadi ◽  
Pavel Iliushin ◽  
...  
Keyword(s):  
Carbon Dioxide ◽  
Enhanced Oil Recovery ◽  
Oil Recovery ◽  
Laboratory Evaluation ◽  
Recovery Methods
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