Techno-Economic Reservoir Modelling
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The particular work described in this report was the development of a reservoir simulation model of enhanced oil recovery by CO2 injection in a representative North Sea oilfield. The injection of CO2 was modelled using a full field model, following primary/secondary production of the field by water-flooding. A technical review was conducted of a representative CO2-EOR reservoir model linked to the economics. The model was based on a real North Sea reservoir model donated by an oil & gas operator for this study. The aim of the work was to develop a CO2 injection strategy to optimize hydrocarbon recovery. Features to be investigated in the modelling included injection type (comparing between injecting only seawater, only CO2, or mixtures in various proportions – either WAG, SWAG or simultaneously, but kept apart in separate wells), EOR timing in field life, choice of wells and injection rates. A representative CO2-EOR reservoir model was to be developed with the aim of linking it to the economics, including step changes in the carbon floor price from now until 2020 and investigating what impact this would have on CO2 storage. Different injection scenarios, including optimising hydrocarbon recovery and optimising CO2 storage were studied. The model could thereafter be linked to project economics, including CAPEX, OPEX, CO2 price and oil price.