Precious Ogbeiwi, Karl D Stephen

The constant dependence on fossil fuel combustion for energy and industrial activities results in global warming and climate change due to the increased atmospheric concentration of greenhouse gases such as CO2. CO2 storage in mature petroleum reservoirs is considered one of the most viable ways to reduce CO2 concentrations in the atmosphere. The Niger-Delta hydrocarbon basin holds significant volumes of petroleum and is, therefore, a prime candidate for CO2 storage. This study uses a case study of a mature oil reservoir to assess the techno-economic potential for CO2-enhanced oil recovery and storage in the Niger Delta. The methodology used a suitable screening criterion to assess the feasibility of the case study reservoir for CO2 EOR and storage. The reservoir’s carbon storage and incremental oil recovery potentials were then estimated. A new economic model for the CO2 storage project in the Niger-Delta petroleum basin was developed and applied to establish the commercial viability of the CO2 flooding project. Sensitivity and uncertainty analyses were then performed to assess the economic risks associated with the project. Our results showed that the properties of the reservoir make it suitable for miscible CO2 injection and that the reservoir has huge potential for enhancing oil production by CO2 injection while storing a vast amount of the injected carbon in the subsurface. The economic study and uncertainty analysis results also revealed that CO2-enhanced oil recovery and storage in the Niger-Delta basin is economically viable even under economic uncertainties, and a relatively low oil price.