Georgia Oil and Gas Limited (GOGL)
OPC worked with Georgia Oil and Gas Limited (GOGL), the Georgian government and industrial partners to identify opportunities to decarbonise local CO2 emitters and future hydrocarbon projects.
Initial screening proposed linking CO2 emitters in the Gardabani-Rustavi industrial hub with legacy oil and gas reservoirs in the local area to permanently store CO2 or to utilise it for enhanced oil recovery (EOR). OPC identified several depleted reservoirs as the first candidates for screening. The objectives of the multi-disciplinary regional screening were as follows:
- Review of the geology and geophysics of the depleted reservoirs.
- Calculation of the theoretical CO2 storage capacity.
- Perform a conceptual EOR assessment to understand recoverable volumes.
- Model CO2 injectivity performance of reference wells using Prosper to develop an optimum injection strategy.
- Evaluate commercialisation and economic viability of the CCS cluster.
Results
The result of the project outlined a risk matrix of the geological and geophysical conditions of the reservoir, calculated the theoretical storage capacity of the reservoir and calculated injection volumes of CO2. The analysis enabled OPC to quantify the potential return of the project based on carbon credits and a theoretical emission trading scheme mirroring the EU ETS. This included a commercialisation scheme with commentary on a potential tax regime.
OPC’s analysis and simulation enabled GOGL to outline its commitment to supporting decarbonisation and the energy transition to the government and stakeholders while facilitating Georgian energy independence.
The project was presented at the Continental European Energy Council 54th Annual meeting in Tbilisi, Georgia. Several energy companies, European governments, and industry experts attended.
