Estimating the Amount of CO2 Required and the Subsequent Increase in Oil Production for CO2 Flooding

This paper presents an application of CO2 Miscible flooding technique on an Oil field, and how the process is justified based on improved oil recovery and economic profitability. The project was carried out by the use of EORgui screening software to assess the suitability of the oil filed. The most important screening parameters used are cumulative production and minimum miscibility pressure. Water injection at a constant rate of 195 bbl/day into a 40-acre, 5-spot pattern results in an oil recovery of 1.125 Hydrocarbon pore volumes of oil (420667.56 Mbbl) Mbbls) corresponding to 16.67% incremental oil recovery over a 20-year period at a 443.5Mscf/d CO2 Injection rate. The potential demand of CO2 needed for this project was found to be 3199.85MMScf. The cumulative net operating income saw a tremendous increase over the project?s lifespan resulting in positive cumulative cash flows before and after taxes depicting the economic feasibility of the project. A sensitivity analysis conducted shows that the efficiency of Miscible CO2-EOR varied under varying reservoir conditions hence may not be suitable for certain reservoir conditions. Cumulative oil production decreases with increasing Dysktra Parson?s coefficient of heterogeneity and increasing oil viscosity. For reservoir pressures below the MMP (1200psia), immiscible flooding occurs and vice versa. For reservoir pressures well above the MMP it was found out that best production occurs for the highest reservoir pressure; 2000psi.