Canada anticipates capturing and storing 15 million tons of carbon dioxide (CO2) annually by 2030. Growing the CCS industry and reaching these storage levels will require building several new CCS facilities - profitably.
Our client, a Canadian energy company, had an opportunity for an underground storage facility by converting a depleted gas reservoir to CO2 storage. RPS reservoir engineers supported them in determining the economic viability of this potential project.
As with most energy projects, site selection is one of the most critical factors in determining its success. Our client, an energy company, engaged with reservoir engineers at RPS to perform an early-stage feasibility study of the project. We calculated that the injection flow rate of this reservoir would take 24 months to fill. This time would not be nearly long enough to make the project economically viable. Additionally, during the study, an investigation of the injection well showed issues with corrosion, making it unworkable for a CO2 injection well.
The reservoir size and the wells' suitability for injection are significant factors for geological sequestration. Before spending additional capital on site investigation or leasing, these factors should be determined.
Our feasibility study reported on the following:
In this case, the reservoir size was too small to justify the capital allocation of converting the site for CO2 injection and storage. Although, on the face of it a negative result, the early feasibility analysis saved our client time and money to put into better quality opportunities.
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RPS is committed to protecting and respecting your privacy. We will only use your personal information to administer your account and to provide the products and services you have requested. We would also like to contact you about our products and services, as well as other content that may be of interest to you.