Geologic CO2 sequestration may benefit upstream industry

Should restrictions on carbon dioxide (CO2) emissions arise, operators in the upstream petroleum industry with the right technology and reservoir access will be positioned to benefit from the emerging geologic sequestration industry.Highly mature regions, such as the US Permian basin, may someday realize more revenue from CO2 disposal than from oil production. This scenario is more likely today than imagined even 5 years ago.About 190,000 b/d of US oil production come from enhanced oil recovery projects using CO2 injection. Uniquely, these EOR projects dispose (or sequester) CO2 at overall net profit and without subsidy. In the future, these fields may be reconfigured to maximize CO2 inje...

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