ERP report on CO2-Enhanced Oil Recovery released today – 8 October 2015

ERP’s publication on CO2-EOR has officially been released today, Thursday 8 October 2015.

The report notes that decisions made in the next two years will determine the extent that the benefits from CO2-EOR are realised – which include taxable oil revenues, offering low-cost storage for CCS and sustaining the wider oil industry.

Recommendations from the report are:

  1. The oil and CCS sectors need to be coordinated, within Government and across industry.
  2. Early policy decisions on CCS Phase 1 & 2 will determine the outcomes of CO2-EOR and will be improved if both Peterhead and White Rose go ahead.
  3. The offshore tax regime needs to support CO2-EOR’s high expense and risks.
  4. Enable a CO2 transport/infrastructure company to reduce risks for emitters, stores and CO2-EOR.

For background information, view the CO2-EOR project page

ERP would like to thank the Steering Group Chair & Members for its guidance and input.

For further information or to discuss presentation and networking opportunities, please contact ERP Executive Analyst, Richard Heap.