The objective of this study is to ascertain the capital expenditure (CAPEX) and operating expenditure (OPEX) associated with the reuse of existing facilities. To this end, a joint research initiative has been launched between Hyundai and the Netherlands, which is engaged in a comparable carbon capture and storage (CCS) project in the East Sea. The aim is to identify potential cost savings for the CCS project currently being prepared in South Korea.
Introduction
The concept of reusing aging production facilities in depleted gas fields for CO2 storage offers various advantages. These fields often come with existing offshore infrastructure, thereby reducing CAPEX required for CCS projects.
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