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Optimizing a CO2 value chain for the Norwegian Continental Shelf

Author

Listed:
  • Klokk, Ø.
  • Schreiner, P.F.
  • Pagès-Bernaus, A.
  • Tomasgard, A.

Abstract

This paper presents a mathematical model for designing a carbon dioxide (CO2) value chain. Storage of CO2 in geological formations is recognized as an important alternative for carbon abatement. When CO2 is deposited in oil reservoirs it can sometimes be used to achieve additional oil production, enhanced oil recovery (EOR). The model determines an optimal CO2 value chain from a fixed set of CO2 emission points and a set of potential injection sites. It designs a transport network and chooses the best suited oil fields with EOR potential or other geological formations for storage. A net present value criterion is used. The model is illustrated by an example of a Norwegian case with 14 oil fields, two aquifers and five CO2 sources. A sensitivity analysis is performed on the most important parameters.

Suggested Citation

  • Klokk, Ø. & Schreiner, P.F. & Pagès-Bernaus, A. & Tomasgard, A., 2010. "Optimizing a CO2 value chain for the Norwegian Continental Shelf," Energy Policy, Elsevier, vol. 38(11), pages 6604-6614, November.
    • Handle: RePEc:eee:enepol:v:38:y:2010:i:11:p:6604-6614
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    References listed on IDEAS

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    Cited by:

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    2. Massol, Olivier & Tchung-Ming, Stéphane & Banal-Estañol, Albert, 2018. "Capturing industrial CO2 emissions in Spain: Infrastructures, costs and break-even prices," Energy Policy, Elsevier, vol. 115(C), pages 545-560.
    3. Singham, D.I., 2019. "Sample average approximation for the continuous type principal-agent problem," European Journal of Operational Research, Elsevier, vol. 275(3), pages 1050-1057.
    4. Compernolle, T. & Welkenhuysen, K. & Huisman, K. & Piessens, K. & Kort, P., 2017. "Off-shore enhanced oil recovery in the North Sea: The impact of price uncertainty on the investment decisions," Energy Policy, Elsevier, vol. 101(C), pages 123-137.
    5. Gavenas, Ekaterina & Rosendahl, Knut Einar & Skjerpen, Terje, 2015. "CO2-emissions from Norwegian oil and gas extraction," Energy, Elsevier, vol. 90(P2), pages 1956-1966.
    6. Jagu Schippers, Emma & Massol, Olivier, 2022. "Unlocking CO2 infrastructure deployment: The impact of carbon removal accounting," Energy Policy, Elsevier, vol. 171(C).
    7. Dai, C. & Cai, Y.P. & Li, Y.P. & Sun, W. & Wang, X.W. & Guo, H.C., 2014. "Optimal strategies for carbon capture, utilization and storage based on an inexact mλ-measure fuzzy chance-constrained programming," Energy, Elsevier, vol. 78(C), pages 465-478.
    8. Cai, W. & Singham, D.I., 2018. "A principal–agent problem with heterogeneous demand distributions for a carbon capture and storage system," European Journal of Operational Research, Elsevier, vol. 264(1), pages 239-256.
    9. Massol, Olivier & Tchung-Ming, Stéphane & Banal-Estañol, Albert, 2015. "Joining the CCS club! The economics of CO2 pipeline projects," European Journal of Operational Research, Elsevier, vol. 247(1), pages 259-275.
    10. Welkenhuysen, Kris & Rupert, Jort & Compernolle, Tine & Ramirez, Andrea & Swennen, Rudy & Piessens, Kris, 2017. "Considering economic and geological uncertainty in the simulation of realistic investment decisions for CO2-EOR projects in the North Sea," Applied Energy, Elsevier, vol. 185(P1), pages 745-761.
    11. Cai, W. & Singham, D.I. & Craparo, E.M. & White, J.A., 2014. "Pricing Contracts Under Uncertainty in a Carbon Capture and Storage Framework," Energy Economics, Elsevier, vol. 43(C), pages 56-62.
    12. Massol, O. & Tchung-Ming, S., 2012. "Joining the CCS Club! Insights from a Northwest European CO2 Pipeline Project," Working Papers 12/10, Department of Economics, City University London.
    13. Rivarolo, M. & Magistri, L. & Massardo, A.F., 2014. "Hydrogen and methane generation from large hydraulic plant: Thermo-economic multi-level time-dependent optimization," Applied Energy, Elsevier, vol. 113(C), pages 1737-1745.
    14. Fodstad, Marte & Crespo del Granado, Pedro & Hellemo, Lars & Knudsen, Brage Rugstad & Pisciella, Paolo & Silvast, Antti & Bordin, Chiara & Schmidt, Sarah & Straus, Julian, 2022. "Next frontiers in energy system modelling: A review on challenges and the state of the art," Renewable and Sustainable Energy Reviews, Elsevier, vol. 160(C).
    15. Wang, Xiao & van ’t Veld, Klaas & Marcy, Peter & Huzurbazar, Snehalata & Alvarado, Vladimir, 2018. "Economic co-optimization of oil recovery and CO2 sequestration," Applied Energy, Elsevier, vol. 222(C), pages 132-147.
    16. Middleton, Richard S. & Eccles, Jordan K., 2013. "The complex future of CO2 capture and storage: Variable electricity generation and fossil fuel power," Applied Energy, Elsevier, vol. 108(C), pages 66-73.

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