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Techno-economic evaluation of CO2 enhanced oil recovery (EOR) with the optimization of CO2 supply

Title
Techno-economic evaluation of CO2 enhanced oil recovery (EOR) with the optimization of CO2 supply
Author
김진국
Keywords
CO2 supply; Enhanced oil recovery; Economic evaluation; Optimization
Issue Date
2017-03
Publisher
ELSEVIER SCI LTD
Citation
INTERNATIONAL JOURNAL OF GREENHOUSE GAS CONTROL, v. 58, page. 169-184
Abstract
Enhanced oil recovery (EOR) by the injection of CO2 into the oil reservoir is widely practiced for stimulating oil production, which is also favorable for CCS (carbon capture and storage) due to the effect of sequestrating CO2 into the empty space of the reservoir along with oil production. Although economic and environmental benefits can be obtained through CO2 EOR, it requires considerable capital investment and expenditure for the operation. Therefore, it is helpful to assess systematically the life-time effect of CO2 EOR by evaluating the capital and energy flow. Rather considering collectively overall mass flows of CO2 purchase, recycling, sequestration and oil production throughout the whole life-cycle, this study presents the assessment of CO2 EOR in a multi period manner in which CO2 supply is systematically scheduled, subject to the availability of external CO2 sources and time-dependent relationship between CO2 injection, CO2 supply and CO2 recycle. The methodological procedure for the proposed economical assessment is presented with the case study, in which CO2 supply schedule is optimized to maximize net present value (NPV), considering the constraints imposed by time-dependent availability of CO2 supply sources. Sensitivity analysis of key design parameters is performed to gain conceptual insights for the design and operation of CO2 EOR. (C) 2017 Elsevier Ltd. All rights reserved.
URI
https://www.sciencedirect.com/science/article/abs/pii/S1750583617300099?via%3Dihubhttps://repository.hanyang.ac.kr/handle/20.500.11754/113392
ISSN
1750-5836; 1878-0148
DOI
10.1016/j.ijggc.2017.01.002
Appears in Collections:
COLLEGE OF ENGINEERING[S](공과대학) > CHEMICAL ENGINEERING(화학공학과) > Articles
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