The large amount of CO2 that can be mitigated by geologic storage had gained interest during the last 15 years. Acceptance of CCS under CDM is still under discussion(IEA, 2008) however there are several pilot or field scale projects and monitoring surveys that are underway which will make the technology better known and resolve the risks involved. This study involves assessment of possible geologic sites for CO2 storage and calculation of CO2 emissions from thermal power plants with capacities > 500 MWe, cement factories, steel industry, sugar factories and refineries in Turkey. In emission calculations IPCC methodology is used. Coupling of sources and sinks resulted in a decision to use the emissions from a cement factory which is about 130 km from the selected oil field, Caylarbasi. The cement factory does not have capture facilities yet, but during modelling it was assumed that CO2 is available at the factory site. According to the results of the model study, during the project life of 20 years, enhanced oil recovery effect of CO2 lasts 8 years and 2 million barrels of oil will be produced and the remaining 12 years are modelled as CO2 storage phase which shows 220 million Sm-3 of CO2 can be stored. The transportation phase was designed with two alternatives, pipeline transport and transport by tankers. Economic evaluation at 100$ / barrel of oil value, it will be possible to produce for 6 years. For the following years during CO2 storage, incentives are necessary to cover operating costs so that project will continue for 20 years. Since the initial investment is already made, only the operational costs must be financed.