Carbon Capture and Storage (CCS) technology could help reduce anthropogenic CO2 emissions to the atmosphere. So far, CCS has failed to attract government support in the UK due to high costs of implementation. The broad deployment of CO2-EOR could aid the development of CCS by providing additional revenue streams for investors. The success of the CO2- EOR in the United States has raised the question of whether this success could be replicated in the UKCS. This thesis answers these questions by introducing two distinct models, which analyse the similarities and differences between the two oil provinces from the subsurface and economic perspectives. The first model integrates into the economic framework the behaviour of oil and CO2 in a reservoir. The model is applied to an oil field in the North Sea. It analyses whether the screening criteria developed based on the onshore US experience to screen for oil field candidates for the CO2 would be suitable for the oil fields in the UKCS. The second model is a theoretical CO2-EOR with storage model, which analyses how the inclusion of permanent storage changes the economics of CO2-EOR. The CO2-EOR with storage model allows for an endogenous switching point between the CO2-EOR and the permanent CO2 storage phase depending on the various economic factors, such as oil prices, sequestration subsidies and fees, CO2 price, and oil and gas tax rates. The CO2-EOR with storage model shows different behaviour compared to the case without permanent storage. On the policy level, the main difference between the two countries revealed that the UK strongly focuses on cutting CO2 emissions while the U.S. on boosting domestic oil production. Therefore, the third study in this thesis investigates the net carbon footprint of the CO2-EOR activity in the North Sea.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:760005 |
| Date | January 2018 |
| Creators | Wright, Alfiya |
| Contributors | Phimister, Euan ; Kemp, Alexander G. |
| Publisher | University of Aberdeen |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
| Source | http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=239233 |
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