Abstract
To ultimately avoid CO2 emissions into the atmosphere, the European research project “ECO-BASE” (Establishing CO2 enhanced Oil recovery Business Advantages in South Eastern Europe, 2017-2020) has identified a number of candidate CO2-EOR oil fields that could benefit economically from nearby industrial sources of CO2, whilst permanently sequestering the captured CO2 in the subsurface. On the near term, however, the objective of the ECO-BASE project was to raise sufficient interest among the emitters, oil field operators and national governments to develop a common understanding of the business opportunities and allow resources to be spent to further mature potential business cases along the various decision gates of their respective project maturation processes. To this end, two candidate oil fields have been investigated in-depth, i.e. the large Bati Raman heavy oil field in southeast Turkey, and the Bradești oil field in southwest Romania. Their business cases for CO2-EOR combined with permanent CO2 storage are discussed in this paper. It can be concluded that, in South Eastern Europe, CO2-EOR has the potential to justify economically first-of-a-kind CO2 infrastructure and sequestration projects that otherwise would not have been feasible.
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