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Energy Security, Few Possible Options - page 10 / 25

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(3) CO2 for Enhanced Oil Recovery (EOR) from Green Power Plants.

North sea emerging as a center of development of carbon capture and storage technology.

Oil production slowing down in many fields.

Depleting oil reservoirs offer a place to store from fossil fuel power plants and also to increase oil production - CO2 flooding being an effective EOR option, though not in wide application for want of large quantities of CO2 at affordable price.

Several oil giants like BP, Shell and Statoil recently announced plans to build new power plants to convert North Sea Natural Gas into Hydrogen, burn the Hydrogen to produce electricity, and ship the resulting CO2 to pump into offshore fields.

BP expects to produce extra 40 mmbbls of oil production between 2010 when the plant starts and 2030.

As per recent study, North Sea oil fields can produce an additional 7.3 Billion bbls and at the same time store 10 Billion tonnes of CO2.

Norwegian Company, Sargas is building a coal-fired (also gas, but both at high pressure) power plant in Norway that will produce power and CO2 under pressure. They  plan to sell CO2 to offshore fields. Their estimates is CO2 delivered at the platforms at $ 20/tonne and each tonne should yield 2-3 extra bbls of oil.

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