The Carbon Dioxide Enhanced Oil Recovery (EOR) 2014 2024

The Carbon Dioxide (CO2) Enhanced Oil
Recovery (EOR) Market 2014-2024

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Contents
1. Executive Summary
1.1 Global Carbon Dioxide Enhanced Oil Recovery Market Overview
1.2 Benefits of This Report
1.3 Who is This Report For?
1.4 Methodology
1.5 Global Carbon Dioxide Enhanced Oil Recovery Market Forecast 2014-2024
1.6 Leading National Carbon Dioxide Enhanced Oil Recovery Markets Forecast 2014-2024

2. Introduction to the Carbon Dioxide Enhanced Oil Recovery Market
2.1 Brief History of the CO2 EOR Industry
2.2 The Importance of Oil Prices
2.3 The Main Costs Involved in CO2 EOR Operations
2.4 Miscible and Immiscible EOR Methods
2.5 From Where is Carbon Dioxide Sourced?
2.6 Advantages and Disadvantages of Using CO2 for EOR
2.7 Competition from Rival Technologies
2.8 Prospects for Offshore CO2 EOR
2.9 Environmental Issues Linked to CO2 EOR Production

3. The Global Carbon Dioxide Enhanced Oil Recovery Market
3.1 The Global Carbon Dioxide Enhanced Oil Recovery Market Forecast 2014-2024
3.2 Drivers and Restraints in the Carbon Dioxide Enhanced Oil Recovery Market
3.2.1 Drivers in the CO2 EOR Market
3.2.1.1 Vast Geological Storage Potential in Oil Fields
3.2.1.2 Extensive Industry Experience with CO2 EOR
3.2.1.3 Billions of Barrels of Added Oil Yield
3.2.1.4 Many Fields Approaching Limit of Waterflood Recovery Potential
3.2.1.5 High Costs of Decommissioning Oil & Gas Infrastructure
3.2.1.6 Residual Oil Zones (ROZ)
3.2.1.7 Carbon Trading and Cost Reductions
3.2.2 Restraints in the CO2 EOR Market
3.2.2.1 Limited CO2 Availability
3.2.2.2 High Cost of Carbon Capture
3.2.2.3 Limited Financial Incentives to Invest

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Contents
3.2.2.4 Tight Financing
3.2.2.5 Longer Return on Investment Period
3.2.2.6 Carbon Dioxide Leakage and Environmental Issues
3.2.2.7 Limited or No Government Funding
3.2.2.8 Offshore Decommissioning and Well Abandonment
3.2.2.9 Poorly Conducted Onshore Decommissioning
3.3 Barriers to Entry Analysis

4. The Leading National Carbon Dioxide Enhanced Oil Recovery Markets
Forecast 2014-2024
4.1 The Leading National Carbon Dioxide Enhanced Oil Recovery Market Share Forecast 2014-2024
4.2 The United States Enhanced Oil Recovery Market Forecast 2014-2024
4.2.1 History of CO2 EOR in the United States
4.2.2 Where are the CO2 EOR Projects in the US Located?
4.2.3 Where is the CO2 Sourced From?
4.2.4 Recent and Upcoming Production Projects in the US CO2 EOR Market
4.2.5 Future Anthropogenic CO2 Sources
4.2.6 The Importance of Government Support and Regulations
4.2.7 The Impact of Increasing Shale (Tight) Oil Production on the CO2 EOR Market
4.2.8 Offshore EOR Unlikely to Come to Fruition
4.2.9 How is the US CO2 EOR Market Likely to Develop over the Next 10 Years?
4.3 The Chinese Enhanced Oil Recovery Market Forecast 2014-2024
4.3.1 Brief History of Enhanced Oil Recovery in China
4.3.2 Current Chinese CO2 EOR Projects
4.3.3 China’s High Emissions and the Need for More Oil
4.3.4 How Suitable is China’s Geology for CO2 EOR
4.3.5 China’s Efforts to form International Partnerships to Help Promote CO2 EOR
4.3.6 The Need for More Government Support for CO2 EOR
4.3.7 Upcoming Projects in the Chinese CO2 EOR Market
4.4 The Canadian Enhanced Oil Recovery Market Forecast 2014-2024
4.4.1 The Success of the Weyburn-Midale Project
4.4.2 Other Operational Canadian CO2 EOR Projects
4.4.3 An Evaluation of Canada’s Previous CO2 EOR Pilot Projects
4.4.4 Upcoming Projects in the Canadian CO2 EOR Market
4.4.4.1 SaskPower’s Boundary Dam Project to Begin Supplying CO2 to Weyburn in 2014

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Contents
4.4.4.2 The Alberta Carbon Trunk Line (ACTL) Project to Begin Operations in 2015
4.4.4.3 Swan Hills Synfuels Project Suspended Amidst Low Gas Prices
4.4.5 Future Opportunities in the Canadian CO2 EOR Market
4.4.6 High CO2 Costs Prohibiting Development
4.4.7 Shale Oil, Oil Sands and Competition from Other Technologies
4.5 The United Arab Emirates Enhanced Oil Recovery Market Forecast 2014-2024
4.5.1 What are the Factors Driving CO2 EOR Development in the UAE
4.5.2 Progress of the Masdar Initiative
4.5.3 Upcoming Projects in the UAE CO2 EOR Market
4.5.4 Future Potential of the UAE CO2 EOR Market
4.6 The Brazilian Enhanced Oil Recovery Market Forecast 2014-2024
4.6.1 Background and Current CO2 EOR Projects
4.6.2 Prospects for the Lula CO2 EOR Projects
4.6.3 Future Potential for Brazil’s CO2 EOR Market
4.7 The United Kingdom Enhanced Oil Recovery Market Forecast 2014-2024
4.7.1 Increasing Interest in North Sea CO2 EOR
4.7.2 Potential Projects in the UK CO2 EOR Market
4.7.3 Joint Research Ventures and Partnerships Attempting to Promote CO2 EOR in the UK
4.7.4 Why is CO2 EOR Failing to Attract the Necessary Support in the UK?
4.8 The Rest of Europe Enhanced Oil Recovery Market Forecast 2014-2024
4.8.1 The Potential for CO2 EOR in Europe
4.8.2 Why is Progress so Slow at Present?
4.8.3 CO2 EOR Prospects in the Netherlands and Denmark
4.8.4 Norway’s Long-Term CO2 EOR Potential
4.8.5 CO2 EOR Opportunities in Other European Countries
4.9 The Rest of the World Enhanced Oil Recovery Market Forecast 2014-2024
4.9.1 CO2 EOR Projects and Potential in the Rest of the World

5. PEST Analysis of the CO2 EOR Market 2014-2024
6. Expert Opinion
6.1 Scottish Carbon Capture and Storage (SCCS)
6.1.1 SCCS’ Involvement in the CO2 EOR Market
6.1.2 The Prospects for CO2 EOR in the North Sea
6.1.3 Recent Setbacks in the North Sea CO2 EOR Market

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Contents
6.1.4 Potential Development Timeline for the North Sea CO2 EOR Market
6.1.5 The Importance of Government Funding for Projects
6.1.6 The Importance of CO2 Availability
6.1.7 The Value of Joint and International Research Efforts
6.1.8 The Role of Government Legislation in the CO2 EOR Industry
6.2 Enhance Energy
6.2.1 Enhance Energy’s Involvement in the CO2 EOR Market
6.2.2 The Rationale Behind the Alberta Carbon Trunk Line Project
6.2.3 Progress of the Alberta Carbon Trunk Line Project
6.2.4 Oil Sands Development as a Driver for CO2 EOR Development
6.2.5 The Prospects for CO2 EOR in Alberta
6.2.6 The Importance of Oil prices
6.2.7 The Impact of Government Funding
6.2.8 The Importance of CO2 Supplies

7. Leading Companies in the Carbon Dioxide Enhanced Oil Recovery
Market
7.1 Top 15 Companies in the North American CO2 EOR Market
7.1.1 Anadarko Petroleum Corporation
7.1.2 Apache Corporation
7.1.3 BreitBurn Energy Partners
7.1.4 Cenovus Energy Inc.
7.1.5 Chaparral Energy Inc.
7.1.6 Chevron Corporation
7.1.7 ConocoPhillips
7.1.8 Denbury Resources
7.1.9 Devon Energy
7.1.10 ExxonMobil Corporation
7.1.11 Hess Corporation
7.1.12 Kinder Morgan
7.1.13 Merit Energy
7.1.14 Occidental Petroleum Corporation
7.1.15 Whiting Petroleum Corporation
7.2 Other Companies in the North American CO2 EOR Market
7.2.1 Core Energy

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Contents
7.2.2 Energen Resources Corporation
7.2.3 Fasken Oil & Ranch Ltd.
7.3.4 Husky Energy
7.3.5 Magellan Petroleum
7.3 Major Companies in the International CO2 EOR Market
7.3.1 China National Petroleum Corporation
7.3.2 Masdar
7.3.3 Petroleo Brasileiro S.A. (Petrobras)
7.3.4 Sinopec Group

8. Conclusions
8.1 Carbon Dioxide Enhanced Oil Recovery Market Outlook
8.2 Drivers & Restraints in the Carbon Dioxide Enhanced Oil Recovery Market
8.3 Leading National Carbon Dioxide Enhanced Oil Recovery Markets Forecast 2014-2024

9. Glossary

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Contents
List of Tables
Table 1.1 Global Carbon Dioxide Enhanced Oil Recovery Market Forecast Summary 2014, 2019, 2024 ($m, CAGR
%)
Table 1.2 Leading National Carbon Dioxide Enhanced Oil Recovery Market Forecast Summary 2014, 2019, 2024
($m, CAGR %)
Table 2.1 Advantages and Disadvantages of Using CO2 for EOR
Table 2.2 Shale Oil Reserves Top 10 Countries
Table 3.1 Global Carbon Dioxide Enhanced Oil Recovery Markets Forecast 2014-2024 ($m, AGR %)
Table 3.2 Drivers and Restraints in the CO2 EOR Market
Table 4.1 Leading National Carbon Dioxide Enhanced Oil Recovery Markets Forecast 2014-2024 ($m, AGR %)
Table 4.2 Leading National Carbon Dioxide Enhanced Oil Recovery Markets Cumulative Spending 2014-2024 (Rank,
$m)
Table 4.3 US Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 4.4 Drivers and Restraints in the US Carbon Dioxide Enhanced Oil Recovery Market
Table 4.5 Current Anthropogenic Carbon Dioxide Sources in the US (Location, Companies, Start Date and Size)
Table 4.6 Under Construction Anthropogenic Carbon Dioxide Sources in the US (Location, Companies, Status and
Size)
Table 4.7 Proposed Anthropogenic Carbon Dioxide Sources in the US (Location, Companies, Potential Start Up and
Size)
Table 4.8 Top 10 Shale Oil Producers in the Bakken and Eagle Ford
Table 4.9 Chinese Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 4.10 Drivers and Restraints in the Chinese Carbon Dioxide Enhanced Oil Recovery Market
Table 4.11 Chinese Carbon Dioxide Capture Projects Linked to Enhanced Oil Recovery (Location, Companies,
Potential Start Up and Size)
Table 4.12 Canadian Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR %, CAGR%,
Cumulative)
Table 4.13 Drivers and Restraints in the Chinese Carbon Dioxide Enhanced Oil Recovery Market
Table 4.14 Current Canadian Carbon Dioxide Enhanced Oil Recovery Projects (Location, Companies, Start Date,
Details)
Table 4.15 Canadian CO2 EOR Pilots (Project Name, Operator, Operational Dates, Total Oil Production [barrels])
Table 4.16 Canadian Carbon Dioxide Capture Projects Linked to Enhanced Oil Recovery (Location, Companies,
Status, Size and Details)
Table 4.17 UAE Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 4.18 Drivers and Restraints in the UAE Carbon Dioxide Enhanced Oil Recovery Market
Table 4.19 Planned Carbon Dioxide Capture Projects Linked to Enhanced Oil Recovery in the UAE (Location,
Companies, Potential Start Up, Size)

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Contents
Table 4.20 Brazilian Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 4.21 Drivers and Restraints in the Brazilian Carbon Dioxide Enhanced Oil Recovery Market
Table 4.22 UK Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)
Table 4.23 Drivers and Restraints in the UK Carbon Dioxide Enhanced Oil Recovery Market
Table 4.24 Rest of Europe Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR %, CAGR%,
Cumulative)
Table 4.25 Drivers and Restraints in the Rest of Europe Carbon Dioxide Enhanced Oil Recovery Market
Table 4.26 Rest of the World Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR %, CAGR%,
Cumulative)
Table 5.1 PEST Analysis of the CO2 EOR Market 2014-2024
Table 7.1 The 15 Leading Companies in the North American CO2 EOR Market 2013 (Rank, Production [bpd], Market
Share %)
Table 7.2 The 15 Leading Companies in the North American CO2 EOR Market 2013 (Rank, Number of Active
Projects)
Table 7.3 Anadarko Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013 CO2
EOR Production (bpd), 2013 Market Share (%)
Table 7.4 Apache Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013 CO2
Table 7.5 BreitBurn Energy Partners Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR
Projects, 2013 CO2 EOR Production (bpd), 2013 Market Share (%)
Table 7.6 Cenovus Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013 CO2
Table 7.7 Chaparral Energy Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects,
2013 CO2 EOR Production (bpd), 2013 Market Share (%)
Table 7.8 Chevron Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013 CO2
Table 7.9 ConocoPhillips Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013
CO2 EOR Production (bpd), 2013 Market Share (%)
Table 7.10 Denbury Resources Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects,
Table 7.11 Devon Energy Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013
Table 7.12 ExxonMobil Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013
Table 7.13 Hess Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013 CO2 EOR
Production (bpd), 2013 Market Share (%)

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Contents
Table 7.14 Kinder Morgan Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013
Table 7.15 Merit Energy Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013
Table 7.16 Occidental Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects, 2013 CO2
Table 7.17 Whiting Petroleum Overview: Headquarters, Employees, Stock Exchange, Number of CO2 EOR Projects,
Table 8.1 Global Carbon Dioxide Enhanced Oil Recovery Market Forecast Summary 2014, 2019, 2024 ($m, CAGR
%)
Table 8.2 Drivers and Restraints in the CO2 EOR Market
Table 8.3 Leading National Carbon Dioxide Enhanced Oil Recovery Market Forecast Summary 2014, 2019, 2024
($m, CAGR %)

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Contents
List of Figures
Figure 2.1 Historical Oil Prices 2002-2013 (Cushing, OK WTI Spot Price and Europe Brent Spot Price ($ per Barrel)
Figure 2.2 World Oil Prices in Three Cases, 2014-2024 (2011 $ per Barrel, Brent Crude Oil)
Figure 2.3 Regional Carbon Dioxide Emissions 2002-2011 (Million Tonnes)
Figure 2.4 Long-Term Carbon Capture Goals by OECD Region, 2030 and 2050 (Billion Tonnes)
Figure 3.1 Global Carbon Dioxide Enhanced Oil Recovery Markets Forecast 2014-2024 ($m, AGR %)
Figure 3.2 Barriers to Entry vs. National Market Size vs. CAGR 2014-2024 ($m, CAGR%)
Figure 4.1 Leading National Carbon Dioxide Enhanced Oil Recovery Markets CAGR (%) Forecast 2014-2019, 20192024 and 2014-2024
Figure 4.2 Leading National Carbon Dioxide Enhanced Oil Recovery Markets Forecast 2014-2024 ($m)
Figure 4.3 Leading National Carbon Dioxide Enhanced Oil Recovery Markets Share Forecast 2014 (%)
Figure 4.6 Leading National Carbon Dioxide Enhanced Oil Recovery Markets Share Change 2014-2024 (%)
Figure 4.7 US Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR%)
Figure 4.8 US Carbon Dioxide Enhanced Oil Recovery Share Forecast 2014, 2019 and 2024 (% Share)
Figure 4.9 Historical US CO2 EOR Production, 1986-2013 (bpd)
Figure 4.10 Carbon Dioxide Enhanced Oil Recovery Projects by State, 2013
Figure 4.11 Location of US Carbon Dioxide Enhanced Oil Recovery Projects, Carbon Dioxide Sources and Carbon
Dioxide Pipelines
Figure 4.12 Naturally Occurring Carbon Dioxide Sources in the US (Million cubic feet per day)
Figure 4.13 Historical US Crude Oil Production, CO2 EOR Production, and CO2 EOR Production as a percentage of
Crude Oil Production, 1986-2012 (bpd, %)
Figure 4.14 US CO2 EOR Production Forecast 2012-2024
Figure 4.15 Chinese Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR%)
Figure 4.16 Chinese Carbon Dioxide Enhanced Oil Recovery Share Forecast 2014, 2019 and 2024 (% Share)
Figure 4.17 Canadian Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR%)
Figure 4.18 Canadian Carbon Dioxide Enhanced Oil Recovery Share Forecast 2014, 2019 and 2024 (% Share)
Figure 4.19 UAE Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR%)
Figure 4.20 UAE Carbon Dioxide Enhanced Oil Recovery Share Forecast 2014, 2019 and 2024 (% Share)
Figure 4.21 Brazilian Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR%)
Figure 4.22 Brazilian Carbon Dioxide Enhanced Oil Recovery Share Forecast 2014, 2019 and 2024 (% Share)
Figure 4.23 UK Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR%)
Figure 4.24 UK Carbon Dioxide Enhanced Oil Recovery Share Forecast 2014, 2019 and 2024 (% Share)
Figure 4.25 Rest of Europe Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR%)
Figure 4.26 Rest of Europe Carbon Dioxide Enhanced Oil Recovery Share Forecast 2014, 2019 and 2024 (% Share)

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Figure 4.27 Oil Production in the Leading 9 European Countries 2003-2012 (Thousand bpd)
Figure 4.28 Rest of the World Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024 ($m, AGR%)
Figure 4.29 Rest of the World Carbon Dioxide Enhanced Oil Recovery Share Forecast 2014, 2019 and 2024 (%
Share)
Figure 7.1 The 15 Leading Companies in the North American CO2 EOR Market 2013 (Barrels per Day Production)
Figure 7.2 The 15 Leading Companies in the North American CO2 EOR Market 2013 (Market Share %)
Figure 7.3 The 15 Leading Companies in the North American CO2 EOR Market 2013 (Number of Active Projects)
Figure 8.1 Global Carbon Dioxide Enhanced Oil Recovery Markets Forecast 2014-2024 ($m, AGR %)
Figure 8.2 Leading National Carbon Dioxide Enhanced Oil Recovery Markets Forecast 2014-2024 ($m)

Companies Mentioned in This Report
2Co Energy Ltd
Abu Dhabi Company for Onshore Oil Operations (ADCO)
Abu Dhabi National Oil Company (ADNOC)
Agrium
Air Liquide
Air Products & Chemicals
Alstom
Anadarko Petroleum Corporation
Apache Canada
Apache Corporation
ARC Resources
Arch Coal
Babcock & Wilcox Canada
Blue Source
Bow City Power Limited
BP plc
BreitBurn Energy Partners
Brigham Oil & Gas
Burlington Resources
Canadian Natural Resources Limited
Capital Power Corp
Caribbean Nitrogen Company Ltd (CNC)
Cenovus Energy Inc.
Chaparral Energy Inc.

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Contents
Chesapeake Energy
Chevron Corporation
China Datang Corporation
China National Petroleum Corporation (CNPC)
ConocoPhillips Company
Continental Resources
Core Energy
CPS Energy
CVR Energy
Denbury Resources
Devon Canada
Devon Energy Corporation
DKRW Energy
Dongguan Taiyangzhou Power Corporation
Elk Petroleum
Emirates Aluminium (EMAL)
Emirates Steels Industries (ESI)
Enbridge Inc.
Encana Corporation
Energen Resources Corporation
Enhance Energy
EOG Resources Inc.
EP Energy
Erora Group
ExxonMobil
ExxonMobil Chemical
Fasken Oil and Ranch Ltd.
Fluor Corporation
GE Energy
George R. Brown Partnership
GeoSouthern Energy
Glencoe Resources
Great Western Drilling
Hess Corporation
Hitachi
Honeywell UOP

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Hua Neng (Tian Jin) IGCC Company Limited
Husky Energy
Hydrogen Energy International
IESA
International Finance Corporation (IFC)
Japan Oil, Gas and Metals National Corporation (JOGMEC)
Japan Vietnam Petroleum Co., Ltd (JVPC)
JGC Corporation
KBR
Kinder Morgan
Koch Industries
Koch Nitrogen Company
Kodiak Oil & Gas
Leucadia Energy
Leucadia National Corporation
Lianyungang Clean Energy Innovation Industrial Park Ltd.
Linde
LINN Energy
Maersk Oil
Magellan Petroleum
MAN Ferrostaal
Marathon Oil Corporation
Masdar
MCNIC Pipeline & Processing Company
Merit Energy Company
Mississippi Power
Murphy Oil
National Grid Carbon Ltd
Neill and Gunter Ltd
Nexen
Northwest Upgrading
NOVA Chemicals
NRG Energy Inc.
Occidental Chemical Corporation (OxyChem)
Occidental Petroleum Corporation
Peabody Energy

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Pemex
Pengrowth
PennWest Exploration
PetroChina
Petrofac
Petro-Hunt
Petroleo Brasileiro S.A. (Petrobras)
Petroleum Company of Trinidad and Tobago Limited (PETROTRIN)
Petronas
Petrovietnam
Phillips 66
Pioneer Natural Resources
Plain Exploration & Production
PROMAN
Resolute Natural Resources
Roosevelt Resources LLC
Royal Dutch Shell (Shell)
Sandridge Energy
SaskPower
SCS Energy
Shanxi International Energy Group (SIEG)
Shenhua Group
Siemens
Sinopec Group
Slawson Exploration Company
SNC Lavalin-Cansolv
Southern Energy
Statoil
Summit Power
Swan Hills Synfuels
Talisman Energy
Taweelah Asia Power Company (TAPCO)
Tianjin DaGang Huashi
Total
Toyota

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TransAlta Corporation
Turkish Petroleum Corporation (TPAO)
Whiting Petroleum Corporation
Wolverine Power Cooperative
XTO Energy

Government Agencies and Other Organisations Mentioned in This Report
Alberta Department of Energy (ADOE)
British Geological Survey
Bureau of Land Management (BLM)
Centre for North Sea Enhanced Oil Recovery with CO2 (CENSEOR-CO2)
China Export-Import Bank
Clean Fossil Energy Development Institute (CFEDI)
Edinburgh University
Energy Information Administration (EIA)
Environmental Protection Agency (EPA)
European Union (EU)
Global Carbon Capture and Storage Institute (GCCSI)
Guangdong Low-carbon Technology and Industry Research Centre (GDLRC)
Heriot-Watt University
International Energy Agency (IEA)
Japanese Ministry of Economy, Trade and Industry (METI)
National Enhanced Oil Recovery Initiative (NEORI)
North Dakota Industrial Commission
Organisation for Economic Cooperation and Development (OECD)
Petroleum and Petrochemical Consultation Group
Scottish Carbon Capture and Storage (SCCS)
Scottish Enterprise
Texas Railroad Commission
UK Carbon Capture and Storage Research Centre (UKCCSRC)
UK National Grid
US Department of Energy (DOE)
World Bank
World Wildlife Fund (WWF)

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The Carbon Dioxide (CO₂) Enhanced Oil
Table 4.19 Planned Carbon Dioxide Capture Projects Linked to Enhanced Oil
Recovery in the UAE (Location, Companies, Potential Start Up, Size)
Project
Name

Location

Companies

Potential
Start up

Size (Mtpa)

Emirates
Steels
Industries
(ESI) CCS
Project

Abu Dhabi

Masdar,
ADNOC

2015-2016

0.8

Hydrogen
Power
Project

Abu Dhabi

Masdar, BP

2018

1.7

Emirates
Aluminium
Project

Abu Dhabi

Masdar,
EMAL,
TAPCO

2018

4

Details

(2 from EMAL,
2 from
TAPCO)

Source: Visiongain 2013

4.5.4 Future Potential of the UAE CO2 EOR Market
The three carbon capture EOR projects proposed for development in the UAE provide validation
for the peaking forecast. With construction of the Emirates Steel project likely to begin in the next
two years, a sharp spike in investment will be seen as materials and components for the
construction of carbon capture facilities are purchased, and CO2 floods are initiated. By 2018, two,
or possibly three of the projects will have reached full-operational status leading to a sharp drop in
investment in the second half of the forecast. There are currently no further plans to develop a CO2
EOR project in the UAE and due to the Emirates’ size, it is unlikely to see rapid growth in the
market after 2018-2019. However it is possible further carbon dioxide emitting facilities will be fitted
with capture technology and connected to the carbon pipeline network constructed by Masdar for
EOR. In particular, The Dubai Integrated Energy Strategy 2030 has suggested that CCS-equipped
coal power could be utilised within the next decade, with the emirate of Ras Al Khaimah
announcing a feasibility study for such a project. Furthermore, in May 2012 ADNOC also
announced it was investigating offshore CO2 EOR opportunities, though the costs of this would be
significantly higher.

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Page 87

4.6 The Brazilian Carbon Dioxide Enhanced Oil Recovery Market
Forecast 2014-2024
Table 4.20, Figure 4.21 and Figure 4.22 show visiongain’s forecast for the Brazilian carbon dioxide
enhanced oil recovery market over the next ten years.

Table 4.20 Brazilian Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024
($m, AGR %, CAGR%, Cumulative)
2013 2014
105

120

125

14.5

Spending ($m)

2015
4.0

AGR (%)
CAGR (%) 2014-19

2016 2017 2018
202

2019

2020

2021 2022

2023 2024 2014-24

225

242

300

350

417

448

488

536

61.7 11.4

7.6

24.0

16.7

19.1

7.4

8.9

9.8

20.1

2019-24

3,453

12.3

16.1

CAGR (%) 2014-24


Figure 4.21 Brazilian Carbon Dioxide Enhanced Oil Recovery Forecast 2014-2024
($m, AGR%)
600

70%
60%

500

50%

400

AGR

40%
300
30%
200

20%

100

10%

0

0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Year


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Page 88

6. Expert Opinion
6.1 Scottish Carbon Capture and Storage (SCCS)
Visiongain interviewed Gordon Sim, Business Development Executive at Scottish Carbon Capture
and Storage (SCCS), in November 2013 and would like to thank him for his valuable insights.

6.1.1 SCCS’ Involvement in the CO2 EOR Market
Visiongain: Could you provide me with an overview of SCCS and your involvement in the CO2
EOR market?

Gordon Sim: SCCS is a UK based carbon capture and storage research group with internationally
renowned researchers from the British Geological Survey and the universities of Edinburgh and
Heriot-Watt providing connected strength across the full CCS chain to act as the conduit between
academia, industry and government. Acting as single point of coordination for all aspects of CCS
research, SCCS undertake strategic fundamental research and consultancy as well as performing
a key role in providing impartial advice to industry, the public sector, Government agencies, and
policy makers

Ultimately SCCS’s mission is to support and promote the commercial scale deployment of CCS as
an effective climate change mitigation tool to help meet agreed emissions reduction targets
Looking more specifically at the CO2 EOR market, SCCS has recognised that this method of
enhanced hydrocarbon production could potentially facilitate CCS and are currently concentrating
their EOR research on making links between them. We are running a CO2 EOR Joint Industry
Project backed by the Scottish Government, Scottish Enterprise, 2Co Energy, Nexen and Shell.
The project is defined in a series of Work Packages, considering various central elements of CO2
EOR. SCCS are also integral members of the DECC PILOT-EOR policy advisory group, which is
currently examining the future potential of CO2 EOR in the North Sea and looking at ways of
implementing such techniques.

6.1.2 The Prospects for CO2 EOR in the North Sea
Visiongain: With North Sea oil production dwindling, high decommissioning costs and forecasts
for continued high oil prices, CO2 EOR has become a much discussed technology. How do you
rate the prospects for CO2 EOR in the North Sea?

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Page 107

7.1.1 Anadarko Petroleum Corporation
Table 7.3 provides an overview of Anadarko Petroleum Corporation in the CO2 EOR market.

Table 7.3 Anadarko Overview: Headquarters, Employees, Stock Exchange, Number of
CO2 EOR Projects, 2013 CO2 EOR Production (bpd), 2013 Market Share (%)
Headquarters

The Woodlands, Texas, US

Employees

4,800

Stock Exchange

New York Stock Exchange: APC

Number of CO2 EOR Projects

7

North American CO2 EOR Production 2013
(bpd)

13,800

North American CO2 EOR Market Share 2013
(%)

4.3%

2013 Market Rank

8

th

Anadarko is a globally operating oil and gas independent, with its core business taking place in the
US onshore and Gulf of Mexico. All Anadarko’s CO2 EOR projects are in Wyoming, US, where it
has projects at the Salt Creek and Monell fields, both of which began operations in 2003. The most
considerable projects are in the Salt Creek field which has an estimated 1bboe remaining from 1.7
billion barrels of original oil in place. Anadarko currently produces 13,800 bpd from its CO2
enhanced oil recovery projects. ExxonMobil’s LaBarge facility provides the CO2 used by Anadarko
in its Wyoming projects.

In April 2012, Anadarko announced the creation of a joint venture with LINN Energy in respect to
the further development of the Salt Creek field with CO2 EOR. LINN Energy, a specialist in
maximising the life of oil and gas assets, will take a 23% share in the field and invest up to $600m
over the next three to six years. Investment from both companies in the Salt Creek field is
expected to increase production in the concerned part of the field from 1,600bpd (2012) to
3,800bpd (2016). Since 2003, Anadarko has invested an average of $74m per year to develop the
different phases of the Salt Creek CO2 EOR project. Anadarko is also looking into conducting CO2
injection at its Sussex field also in Wyoming, though this development is currently being restrained
by limited CO2 supply.

www.visiongain.com

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The Carbon Dioxide Enhanced Oil Recovery (EOR) 2014 2024

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The Carbon Dioxide Enhanced Oil Recovery (EOR) 2014 2024