Joint Optimization of Well Completions and Controls for CO2 Use and Storage

Carbon dioxide (CO₂) storage through CO₂ enhanced oil recovery (EOR) has been considered an option for larger-scale deployment of CO₂ storage because of the economic benefits of oil recovery, 45Q tax credits, and the use of existing infrastructure. The complete paper investigates how optimal reservoir management and operation strategies can be used to optimize both CO₂ storage and oil recovery. Results of the authors’ study showed that joint optimization of well completions and well controls can achieve a higher final net present value (NPV) than that obtained from the optimization of well controls only.

Introduction

In CO₂ EOR associated with storage processes, poorly designed well-operating conditions or completions can lead to low oil recovery factors and suboptimal CO₂ storage. Co-optimization of oil production and CO₂ storage has been recognized as a feasible technique to maximize benefit in terms of oil production and CO₂ storage tax credit.

To the best of the authors’ knowledge, settings for well completions have not been considered as optimization variables in a CO₂ EOR and storage co-optimization process.