Oil prices are still hovering around $48.00 or less and with steadily climbing supply levels, it might seem superfluous to be discussing Enhanced Oil Recovery projects. However, everyone understands this supply glut will not last forever. Thus being prepared and ready at the forefront for when changes do occur makes sound business sense. Understanding Enhanced Oil Recovery, or EOR, can put your business in a position to be ready to capitalize on any changes in the oil supply situation or chain.
Being Prepared For Enhanced Oil Recovery Projects
While fracking has gotten the most mainstream media play, it is not the only innovation that is being applied to oil recovery situations. EOR has been an element of oil recovery since it’s testing in 1972. However, the next generation of EOR systems is reaching a wider implementation due to a high efficiency at producing recoverable hydrocarbons and the sufficient supply of gas material used to initiate EOR. It is positioning itself to be a cost-effective alternative to other recovery methods when the supply situation does indeed change.
CO2 Enhanced Oil Recovery Projects
While CO2 EOR technology has been utilized since 1972 in the Permian Basin, the largest inhibitor to wider adoption was the limitations of using natural CO2 supplies. Newer technology has allowed for the industrial production of CO2, forming a more efficient and cost-effective supply chain. This also makes it available for wider use in other reservoirs. The increased and steady supply of CO2 has also allowed for innovation to occur within the CO2 EOR system. It requires a larger supply of CO2 to effectively use new gas mobility technologies coupled with new gas flood methodologies, in order to reach areas of the reservoir that can’t be reached with other EOR technologies.
CO2 EOR Potential
EOR technologies consist of three main segments: thermal, chemical injection, and gas injection. Both thermal and chemical injection systems have proven effective, yet each one of these systems is only effective in certain reservoirs. New EOR gas injection systems have the potential to work in reservoirs that are inefficiently served by these other methods, but also have the potential to improve yields in reservoirs served by the other EOR systems. In other words, gas injection EOR systems could potentially enable more production overall than the other systems combined.
When one considers that many existing reservoirs are already in the EOR cycle and others are approaching this level of the production cycle, having the technology to increase efficiency while being cost effective only serves to improve the overall supply outlook for any company.
Proforma Safety’s management team will work diligently to ensure that your Enhanced Oil Recovery projects are safe and efficient.