The purpose of this modelling study is to investigate the combined contributions of CO2-IGR and CO2 storage in a nearly depleted gas-condensate reservoir, Taiwan. The estimation of the storage potential of a depleted gas condensate reservoir, the evaluation of the economic benefits from the CO2-improved gas recover (IGR), and the determination of the best operating strategy for maximizing economic benefits were studied. After the CO2 mixed with the natural gas, the two-phase envelope shrinkage was noticed in the Pressure-Temperature (P-T) diagram for CO2-IGR phase in the reservoir. The mechanisms of CO2 displacement and condensate revaporization contributed to the gas recovery. Due to the gravity, the stored CO2 sank to the bottom of the gas cap; consequently, and the injected CO2 can be stored permanently. The best economic scenario for this case study, which had the highest net present value (NPV) of US $18.7 million, was to use one down-dip injection well with an injection rate of 30,000 standard cubic meters (SCM)/day and a discount rate of 10%. The analysis of the principal components of the economic assessment showed that the benefit of CO2-IGR was highly sensitive to the cost of CO2 capture, and that the carbon tax incentive had a positive effect on the economic benefit of the Carbon Capture, Utilization, and Storage (CCUS) method.
|Number of pages||10|
|Publication status||Published - 2014 Jan 1|
|Event||12th International Conference on Greenhouse Gas Control Technologies, GHGT 2014 - Austin, United States|
Duration: 2014 Oct 5 → 2014 Oct 9
All Science Journal Classification (ASJC) codes