Potential of Russian Regions to Implement CO 2 -Enhanced Oil Recovery

Alexey Cherepovitsyn, Sergey Fedoseev, Pavel Tcvetkov, Ksenia Sidorova and Andrzej Kraslawski
Additional contact information
Alexey Cherepovitsyn: Organization and Management Department, Saint-Petersburg Mining University, 21 Line, 2, St. Petersburg 199106, Russia
Sergey Fedoseev: Kola Science Centre of the RAS, Fersman st., 24a, Apatite 184209, Russia
Pavel Tcvetkov: Department of Informatics and Computer Technologies, Saint-Petersburg Mining University, 21 Line, 2, St. Petersburg 199106, Russia
Ksenia Sidorova: Organization and Management Department, Saint-Petersburg Mining University, 21 Line, 2, St. Petersburg 199106, Russia
Andrzej Kraslawski: School of Business and Management, Lappeenranta University of Technology, P.O. Box 20, FI-53851 Lappeenranta, Finland

Energies, 2018, vol. 11, issue 6, 1-22

Abstract: The paper assesses the techno-economic potential of Russia to implement carbon capture and storage technologies that imply the capture of anthropogenic CO 2 and its injection into geologic reservoirs for long-term storage. The focus is on CO 2 enhanced oil recovery projects that seem to be the most economically promising option of carbon capture and storage. The novelty of the work lies in the formulation of a potential assessment method of CO 2 enhanced oil recovery, which allows for establishing a connection between energy production and oil extraction from the viewpoint of CO 2 supply and demand. Using linear optimization, the most promising combinations of CO 2 sources and sinks are identified and an economic evaluation of these projects is carried out. Based on this information, regions of Russia are ranked according to their prospects in regards to CO 2 capture and enhanced oil recovery storage. The results indicate that Russia has a significant potential to utilize its power plants as CO 2 sources for enhanced oil recovery projects. It has been estimated that 71 coal-fired power plants, and 185 of the gas-fired power plants of Russia annually produce 297.1 and 309.6 Mt of CO 2 that can cover 553.4 Mt of the demand of 322 Russian oil fields. At the same time, the total CO 2 storage capacity of the Russian fields is estimated at 7382.6 Mt, however, due to geological and technical factors, only 22.6% can be used for CO 2 -EOR projects. Of the 183 potential projects identified in the regional analysis phase, 99 were found to be cost-effective, with an average unit cost of € 19.07 per ton of CO 2 and a payback period of 8.71 years. The most promising of the estimated regions is characterized by a well-developed energy industry, relatively low transportation costs, numerous large and medium-sized oil fields at the final stages of development, and favorable geological conditions that minimize the cost of injection. Geographically, they are located in the North-Western, Volga, and Ural Federal districts.

Keywords: CO 2 injection; enhanced oil recovery; project economics; transportation; regions of Russia; potential assessment (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/1996-1073/11/6/1528/pdf (application/pdf)
https://www.mdpi.com/1996-1073/11/6/1528/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:11:y:2018:i:6:p:1528-:d:152105

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().