A LOGISTIC AND ECONOMIC PERSPECTIVE ON DELIVERING CO_2 FOR EOR PROJECTS IN THE NORTH SEA

摘要

Logistics cover all aspects of planning, implementing and executing projects, as well as applying to much of the "behind-the-scenes" activity that tie together component parts creating complete value chains. In this paper we specifically discuss logistic in the context of using carbon dioxide (CO_2) for enhanced oil recovery (EOR) in the maturing oil reservoirs of the North Sea. Here, history, experience, relationships, similarities and contrasts will all assist in facilitating CO_2-EOR projects. However economics-and stakeholders-will finally determine whether or not such projects can ultimately be successful. In this, and a companion paper discussing the CO_2 value chain, we emphasize how equitable fiscal modifications are probably needed to encourage and assist commercial stakeholders facing large capital outlay and high CO_2 operating costs incurred during the early project years on the North Sea Continental Shelf (NSCS). Subsequently, once established, we see an opportunity for a self-sustaining CO_2 commodity arena that may also contribute to the issues of energy security and diversification of energy supplies for Europe, in combination with enabling cost-effective measures for CO_2-mitigation within the host countries.