Role of Underground Carbon Storage to Assist Reaching Net Zero by 2050: Perspectives on Petroleum Reservoirs

Abstract

This article focuses on the critical role of sedimentary basins in underground carbon storage. Focusing on both depleted petroleum reservoirs, as well as sedimentary reservoirs in the field’s petroleum stratigraphy (associated sedimentary reservoirs), it highlights the importance of complete CO2 storage in saline aquifers associated with petroleum reservoirs. This paper provides a novel approach to the understanding of underground carbon sequestration (UCS) by combining the examination of target reservoirs and regulation of activities in these reservoirs. By combining this consideration of physical characteristics with legal issues arising from the regulation of UCS, and their application to emerging Australian UCS projects, this novel evaluation of the progress in UCS provides a unique insight into Australian existing and planned UCS Projects. The findings of the research indicate that depleted petroleum reservoirs are more suited to enhanced oil recovery techniques, while associated sandstone reservoirs (saline aquifers) of the same formation are more suited to UCS. The suitability of a reservoir should be considered in the regulation of UCS activities. The example of Australia presented in this paper demonstrates the difficulties in such regulation.