Oil Exploration & Production
Low-carbon oil production through EOR using lowest cost anthropogenic CO2
Crude oil is the most common source of energy in the world, with over 30% share of the total primary energy supply by fuel (source: IEA). Crude oil and other fossil fuels (coal & natural gas) form the bedrock of modern energy systems and will continue to play a central role in the energy systems of the foreseeable future. In fact, crude oil demand is expected to peak only by 2040, driven by the demand from emerging developing economies like China and India.
Crude oil is seen as the major contributors to climate change; however, it is important to understand that the real issue is CO2 & its capture, and not crude oil. Given the difficulty and slow pace of energy transitions, upstream companies are increasingly looking at ways & means to transition to the production of crude oil with a low or near zero CO2 footprint, or low-carbon oil, while also optimizing investments, costs and sustainability.
We are assisting our clients in charting economically viable energy transition pathways for realizing the goal of low-carbon crude oil production. In this regard, we offer integrated CO2 EOR based solutions that lead to carbon abatement and result in higher crude production and recovery from existing mature fields and reduction of capital expenditure and risks associated with new oil fields. Our integrated system and business-driven approach covers the entire lifecycle of CO2 – starting from CO2 source determination, CO2 capture, processing & transportation, and also covers injection of CO2 for EOR and subsequent recycling of CO2. Our solutions are based on: