Study On Economic Assessment Of A Full-Chain CCS-EOR Project Based On Coal-Fired Post-Combustion CO₂ Capture Technology

CO2 capture, utilization and storage (CCUS) technology plays an important role in the portfolio of greenhouse gas emission reduction technology. Among many technical solutions, CCUS is increasingly recognized as a potential large-scale CO2 emission reduction technology by governments and scholars, especially carbon capture and storage intergrated with enhanced oil recovery (CCS-EOR) technology. The technology can not only use CO2 to improve oil recovery rate, but also reduce the emissions of CO2. Thus, the technology is considered as an early opportunity for the development of CCUS demonstration project.Currently, many developed countries in the world have carried out a number of large-scale CCUS full-chain demonstration projects. Under the context of energy saving and emission reduction and development of low-carbon economy in response to climate change, China has a plan to build several integrated demonstration projects, especially in high CO2 emission sectors such as coal-fired power plant. However, because of the huge investment, long-term operation, multiple technical sectors and many other economic and policy factors associated with CCUS full-chain demonstration projects, it is disired to carry out comprehensive economic assessment with optimization method to provide scientific investment decision support for CO2 captured from coal-fired power plant and transported to oilfield stie for enhancing oil recovery.This paper aims at economic assessment of resource and environment benefit of a full-chain CCUS project based on coal-fired post-combustion CO2 capture technology through an optimization CCUS economic assessment model. Many economic analysis methods, such as net present value, internal rate of revenue, and return period method are adopted for cost-benefit analysis of a full chain project. Scenarios of crude oil price, operating cost, financial incentive policies, CO2 utilization coefficient, carbon storage subsidy and carbon price in emission trading scheme are designed and analyzed by using the model to identify economic critical index of profit conditions.This study can provide decision bases for putting forward technolgy and policy requirement to improve the CCS-EOR project economics, and further formulating national CCUS development strategy of China. The results of a csse study indicate that the economics of a CCS-EOR project would be poor under a low crude oil price and high CO2 untilization coefficient. It is difficult to meet the investment criteria of a project proponent. Sensitivity analysis indicates that the key factors affecting economic performance of a CCS-EOR project would be crude oil price and CO2 untilization coefficient.