Alternating carbon dioxide and water flooding can not only seal greenhouse gases, but also combine the advantages of water flooding and carbon dioxide flooding, and can well control mobility and stabilize the displacement front, thereby greatly improving the macro-replacing efficiency. In order to further improve the development effect of water–carbon dioxide alternating flooding, this paper, based on sufficient collection of the literature, research, and analysis, pre-uses modified water instead of water, and deeply explores and studies the impact of modified water–carbon dioxide alternating flooding on the improvement of development effect and the mechanism of enhancing oil recovery in low-permeability reservoirs. The main work completed is as follows: (1) A comparative experiment of multiple groups of sand-filled tubes with different displacement media, modified water concentrations, and injection plug sizes was conducted under the conditions of simulating reservoir formation temperature of 70 °C and formation pressure of 18 MPa, and the optimal scheme and injection parameters of alternating modified water and carbon dioxide flooding were rationally selected. The results show that the alternating flooding of modified water and carbon dioxide in low-permeability reservoirs can significantly improve the development effect. The optimal injection parameters are a formulation concentration of 0.3% and an injection method of alternating a 0.1 PV slug injection of carbon dioxide and modified water. (2) Using Berea cores instead of sand-fill tubes, a comparative experiment of alternating oil displacement using carbon dioxide and modified water was carried out under the same experimental conditions. Nuclear magnetic resonance measurements were performed on five of the cores to analyze the microscopic oil displacement mechanisms of different displacement media. The results show the following: nuclear magnetic resonance testing shows that carbon dioxide displacement can greatly improve the oil recovery efficiency in tiny pores (about 47.43%); alternating injection can further improve the oil recovery efficiency in tiny pores (about 70.6%); and modified water can improve the oil recovery efficiency in larger pores (about 56.47%).
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