ME Region: The Techniques and Business Aspects of Carbon Capture, Utilization and Storage, and the CO2 Storage Resources Management Systems (SRMS)
Disciplines: Health, Safety, Environment, and Sustainability | Reservoir
As part of the international effort to combat global warming, significant attention is being given to ways to sequester (store for the long-term) carbon dioxide, which is a major contributor to the greenhouse effect. It is therefore critical that there is a universal means to record the storage volumes by recognizing the maturity of the projects to be implemented and the confidence that can be placed in the estimated sequestered volumes.
This course will look at some of the ways in which carbon dioxide can be stored and provide a detailed review of the SRMS framework prepared by the Society of Petroleum Engineers to classify and categorize the storage volumes. The course will include example calculations to show how the storage quantities can be estimated.
In addition, the course will cover the economics of CCS in the context of the various carbon pricing and policy incentives that are being developed, with an assessment of the risks involved in capture, transport, and storage. The economic framework in which CCS operates around the world will be described, with examples given to illustrate how the investment case is evolving.
Although there are a number of business models emerging, the most popular of these will be set out, with a description of how risks are being assessed and allocated between project participants, host governments and lenders.
Part 1 - Introduction and Technical Assessment:
- An overview of carbon capture, utilization and storage, including the role of greenhouse gasses in global warming
- Discussion of typical modes of storage of carbon dioxide in saline aquifers and depleted oil and gas fields (and other methods)
- Assessment of: Injectivity, Storage and Containment
- Measurement, Monitoring and Verification
Part 2 - SRMS Classification System:
- Detailed review of the SRMS, including principles and key definitions
- Discussion of economics and evaluation methods
- The methodologies are illustrated with examples
Part 3 - The economic and commercial features of the course will cover:
- The cost base involved in capture, transmission, and storage
- Carbon pricing methodologies and their relevance to CCS
- The emerging investment case for CCS around the world, including policy support and incentives
- The CCS business model and risk allocation
The course includes several examples, case histories and exercises.
Introductory to Intermediate
The SRMS is a powerful management tool that provides a means to classify and characterize storable quantities of carbon dioxide in a manner similar to that provided by the PRMS for oil and gas reserves and resources. This course will provide you with a thorough understanding of the principles and guidelines of what is likely to become the global standard for CO2 storage.
Professionals of any discipline who are or will be responsible for estimating and reporting storable quantities of carbon dioxide and also those who use such estimates for business decisions, including management, legal and accounting staff.
All cancellations must be received no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Refunds will not be given due to no show situations.
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SPE reserves the right to cancel or re-schedule courses at will. Notification of changes will be made as quickly as possible; please keep this in mind when arranging travel, as SPE is not responsible for any fees charged for cancelling or changing travel arrangements.
We reserve the right to substitute course instructors as necessary.
Douglas Peacock has over 35 years of experience in the oil industry covering a variety of geoscience positions, during employment with service companies, operators and consultancies. He has been involved in exploration, development and reserves estimation throughout his career. Currently, he is Technical Director – Geoscience based in GCA’s Singapore office. He is a recent (2013-16) member of the SPE Oil and Gas Reserves Committee (OGRC) and was an SPE Distinguished Lecturer during 2010-11. He has authored numerous technical papers from 1989-2018. He has given many industry training courses, mainly on reserves and resources, both for SPE and GCA. Doug holds a B.Sc. in Geology from Leeds University and a M.Sc. in Petroleum Geology from Imperial College, London.