National Energy Resources Australia (NERA) and CO2CRC have joined forces on a new carbon capture, utilisation and storage (CCUS) study that will assist the nation’s energy sector to reduce its CO2 emissions.
Announced today, the study will be carried out in two phases. The first phase, led by Australian CCS research organisation CO2CRC in collaboration with Geosciences Australia and support by COAL21, will rank Australian oil and gas basins fort the potential use of CO2 Enhanced Oil Recovery (CO2-EOR).
The second phase of the project will provide insight to industry and government on potential opportunities for CO2-EOR at the field level in Australian onshore basins.
As part of the study, NERA and CO2CR will also evaluate and recommend a framework of policies, incentives of regulations that would help accelerates Australian adoptions of CO2-EOR for oil recovery and CO2 storage, while assuring safe and efficient application of the technology.
“Australia has an opportunity to make significant reduction to its CO2 emissions through CCUS; however, in the absence of an integrated study in Australia, the full potential for CCUS is difficult to ascertain,” said Miranda Taylor, NERA CEO.
“This project will assist in removing these barriers by examining the economic and technical feasibility and potential of using CO2 in EOR and as a pathway to long-term CO2 storage in Australia.”
CO2CRC CEO David Byers said the funding and networking support from NERA will assist Australia’s energy resources sectors in making decisions on the potential opportunities for enhanced oil recovery in Australia.
“CO₂-EOR has the potential to significantly reduce CO₂ emissions while improving Australia’s energy security by boosting oil recovery in mature basins. All of the injected volume of CO₂ will be permanently stored in underground reservoirs by the end of the operational life cycle,” said Byers.