CO2-EOR business opportunities in Romania and Turkey


Creative Commons License

Bos C., Vandeweijer V., Dudu A., Sınayuç Ç., Nermoen A.

15th International Conference on Greenhouse Gas Control Technologies, GHGT-15, Abu Dhabi, United Arab Emirates, 15 - 18 March 2021, pp.1-10

  • Publication Type: Conference Paper / Full Text
  • Doi Number: 10.2139/ssrn.3820841
  • City: Abu Dhabi
  • Country: United Arab Emirates
  • Page Numbers: pp.1-10
  • Middle East Technical University Affiliated: Yes

Abstract

To ultimately avoid CO2 emissions into the atmosphere, the European research project “ECO-BASE” (Establishing CO2 enhanced Oil recovery Business Advantages in South Eastern Europe, 2017-2020) has identified a number of candidate CO2-EOR oil fields that could benefit economically from nearby industrial sources of CO2, whilst permanently sequestering the captured CO2 in the subsurface. On the near term, however, the objective of the ECO-BASE project was to raise sufficient interest among the emitters, oil field operators and national governments to develop a common understanding of the business opportunities and allow resources to be spent to further mature potential business cases along the various decision gates of their respective project maturation processes. To this end, two candidate oil fields have been investigated in-depth, i.e. the large Batı Raman heavy oil field in southeast Turkey, and the Brădești oil field in southwest Romania. Their business cases for CO2-EOR combined with permanent CO2 storage are discussed in this paper. It can be concluded that, in South Eastern Europe, CO2-EOR has the potential to justify economically first-of-a-kind CO2 infrastructure and sequestration projects that otherwise would not have been feasible.