Opportunities for a CO2-enhanced oil recovery project in the North Sea: Analysis of profitability and environmental impact

Welkenhuysen, Kris; Compernolle, T.; Meyvis, B.; Moretti, Michele; Piessens, K.; Roefs, P.; Swennen, R.

doi:10.3997/2214-4609.201802969

Paper published in a book (Scientific congresses and symposiums)

Opportunities for a CO2-enhanced oil recovery project in the North Sea: Analysis of profitability and environmental impact

Welkenhuysen, Kris; Compernolle, T.; Meyvis, B. et al.

2018 • In 5th CO2 Geological Storage Workshop

Peer reviewed

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https://hdl.handle.net/2268/234358

DOI
10.3997/2214-4609.201802969

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Keywords :

Artificial life; Carbon dioxide; Economic analysis; Environmental impact; Geology; Life cycle; CO2 storage; Economic environment; Economic simulation; Enhanced oil recovery; Life cycle analysis; North Sea; Enhanced recovery

Abstract :

[en] The economic and environmental impact of an integrated CO2-EOR project in the Buzzard field in the North Sea is investigated through a life cycle analysis, a standard economic analysis and a more advanced geo-economic simulation. Results show the benefits of combining EOR with CO2 storage. However, the current economic environment provides insufficient long-term outlooks to justify the investment. © 2018 European Association of Geoscientists and Engineers, EAGE. All rights reserved.

Disciplines :

Business & economic sciences: Multidisciplinary, general & others

Author, co-author :

Welkenhuysen, Kris

Compernolle, T.; University of Antwerp, Department of Economics, Belgium

Meyvis, B.; Royal Belgian Institute of Natural Sciences - Geological Survey of Belgium, Belgium

Moretti, Michele ; Université de Liège - ULiège > Agronomie, Bio-ingénierie et Chimie (AgroBioChem) > Modélisation et développement

Piessens, K.; Royal Belgian Institute of Natural Sciences - Geological Survey of Belgium, Belgium

Roefs, P.; University of Antwerp, Department of Economics, Belgium

Swennen, R.; KU Leuven, Department of Earth and Environmental Sciences, Belgium

Language :

English

Title :

Opportunities for a CO2-enhanced oil recovery project in the North Sea: Analysis of profitability and environmental impact

Publication date :

2018

Event name :

6TH INTERNATIONAL GEOLOGICA BELGICA MEETING 2018

Event place :

Leuven, Belgium

Event date :

from 12-09-2018 to 14-09-2018

Main work title :

5th CO2 Geological Storage Workshop

Publisher :

European Association of Geoscientists and Engineers, EAGE

Peer reviewed :

Peer reviewed

Commentary :

9789462822702

Available on ORBi :

since 11 April 2019

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Bibliography

Roefs, P., Moretti, M., Welkenhuysen, K., Piessens, K. & Compernolle, T. [in press] CO2-enhanced oil recovery and CO2 capture and storage: an environmental economic trade-off analysis. 13th Conference on Sustainable Development of Energy, Water and Environment Systems (SDEWES), Palermo, 2018.
Welkenhuysen, K., Meyvis, B., Swennen, R., & Piessens, K. [in press] Economic threshold of CO2-EOR and CO2 storage in the North Sea: a case study of the Claymore, Scott and Buzzard oil fields. International Journal of Greenhouse Gas Control.