ECO-BASE: Establishing CO2 enhanced Oil recovery Business Advantages in South Eastern Europe
INTERNATIONAL RESEARCH INSTITUTE OF STAVANGER AS (IRIS)
August 2017 - September 2020
Support from ACT
€ 1.2 M
CO2 storage is essential for reaching the below 2C target. Commercial utilization of CO2 is one of mechanisms to create a business case for the CO2 storage and CO2-EOR is currently the only process capable of continuously utilizing and later storing large CO2 volumes. ECO-BASE will develop revenue streams and business models for CO2-EOR in South-Eastern Europe (SEE) therefore supporting large scale CCUS deployment. The project is carried out locally in SEE countries: Turkey, Romania and Greece with support from TNO, the Netherlands and IRIS, Norway. The project team will access the whole revenue stream and focus on optimization of the CO2-EOR combined with permanent storage (EORStore) as an undividable process. Four key activities represented by sub-projects are:
1. Map CCUS potential in SEE and establish regional EORStore roadmaps. The sub-project will identify most promising case studies as input for sub-project 2.
2. Creating a business case for selected EORStore case studies. The objectives are to model and optimize EORStore, access technical, legal and regulatory incentives and bottle necks. Sub-project will deliver site specific reports for further actions and identify more generalized lessons learned.
3. Knowledge sharing and transfer between North West Europe (NWE) and SEE and beyond to boost and support CCUS activities in participating countries. Sub-project will organize courses for young specialists; arrange knowledge transfer to various stakeholders of CCUS community. An attempt to involve other countries of the Black Sea region (Bulgaria, Ukraine, Georgia, Russia) would be made.
4. Public awareness and acceptance. Creating favorable atmosphere for CCUS development among all stakeholders is crucial-there were projects stopped or cancelled due to "total lack of local support". The ECO-BASE is aiming at liaising with existing organisations (like CO2-GeoNet) and projects (like ENOS) in order to organise public events and raise awareness and acceptance of EORStore.
Presentation shown at the ACT Knowledge Sharing Workshop 24 October 2017