Study On Evaluation And Prediction Of Resource And Environment Benefits Of Carbon Capture,CO₂-EOR And Storage Project

Carbon capture,CO2-EOR(CO2 Enhanced Oil Recovery)utilization and storage is a kind of emission reduction technology through injecting and storing CO2 into deep oil reservoir with resource and environmental benefits.In order to accurately evaluate and predict the resource and environmental benefits of carbon capture,CO2-EOR and storage projects,this study developed a system optimization model with the goal of minimizing the total cost of the system,which covers carbon capture,transportation,utilization via enhancing oil recovery,sequestration.The total cost of the system in the model is the difference between the technical cost and the total income of the system.The technical cost of the system includes installed capital cost,variable operating cost and fixed operating cost of each technical link,profits include the resources and environmental benefits of the carbon capture,CO2-EOR and storage project.The total cost minimization is based on a range of resource and environmental constraints,technical constraints,equipment capabilities,and various constraints of external factors.Through literature review and expert survey,a hypothetical case of CO2 capture,EOR utilization and storage system is developed in this study.By developing the evaluation and prediction method of resource and environment benefits of this kind project and building system optimization model,this study respectively evaluates the economy of the project from the aspects of newly construction project and the retrofit of the existing oil field reconstruction project.On this basis,through scenario analysis,the economic performance of the project under several economic,technological and policy scenarios,such as oil price,oil production,financing,carbon price and carbon sequestration subsidy,are investigated.And the economies of the project under various scenarios are predicted.In addition,with the help of single factor sensitivity analysis and economic prediction under multi-level scenario variables,the critical points of economic index of the project in various scenarios are identified.The results show that the model can not only evaluate the project economic feasibility under the least cost target by addressing the interaction among carbon capture,CO2-EOR and storage activities,but also predict the future economics of project influenced by various external factors.The critical points of economic index can be identified by analysis of combined scenarios.The developed model can not only be used for economic evaluation and prediction of other similar carbon capture,CO2-EOR and storage projects in China,but also be used to support various policy analysis.