OPPORTUNITIES TO INCREASE THE ECONOMIC EFFICIENCY OF CO2 USE PROJECTS

Abstract

Against the background of structural problems of the oil and gas industry, an increase in the share of hard-to-recover reserves, an increase in greenhouse gas emissions, and an unstable macroeconomic situation, the issue of improving the efficiency of field development, both from a technological and economic point of view, is acute. The results of the studies show that without the use of modern methods of improving oil recovery, maintaining stable production levels across the industry is becoming more difficult. Today, the efficiency of oil extraction by the main development methods is considered unsatisfactory, given the growing global consumption of petroleum products.Over the years, global interest in enhanced oil recovery has increased, and research is underway to find a scientifically sound approach to selecting the most efficient oil field development technologies.Despite the large number of experiments and the accumulated practical experience in using enhanced oil recovery methods, there is currently a wide gap between the needs of oil field stakeholders and the supply of services to implement these methods.Environmental issues are also important. Significant amounts of greenhouse gas emissions and the need for their disposal suggest the search for optimal ways to use them. Reducing СО2 emissions is a complex process involving capturing it in industrial plants, transporting it from capture sites to use sites, and locating it in geological sites.The subject of the study is to assess the feasibility of using СО2 as a method of increasing oil recovery.The article presents the results of a technical and economic assessment of the feasibility of using СО2 in an injection agent to improve oil recovery using the example of one of the fields in the West Siberian oil and gas province. The assessment showed that from a technological point of view, it is advisable to use the method, additional oil production is 3–7 %. However, additional tax incentives are required for interventions to become economically effective, as the interventions are highly capital intensive. The authors proposed an incentive option to ensure a positive economic effect, as well as to avoid a decrease in tax revenues compared to the basic option with water injection.