1. To analyse the evolving energy risk environment and the influences upon it.
2. To highlight strategic implications for policymakers and investors.
3. To propose integrated risk management solutions which seek to reduce the overall risk context.

CARBON SEQUESTRATION PROJECT OVERVIEW

'Quantifying its potential as part of interim climate policy, and balancing the use of CO2 floods to further conventional oil production from stranded oil reserves'

The capture and processing of carbon dioxide presents significant technical and economic challenges. Carbon dioxide transfer and storage, however, accounts for only a third of the total cost but raises major issues about regulation and public assurance.

In the long term drive towards significant emission reductions the UK & international community will need to consider and embrace a range of carbon mitigation strategies, and while the technology for carbon sequestration is extant the market is not yet conducive to its commercial development.

Carbon dioxide injection into oil reservoirs has been used since the 1970's to recover tertiary stage oil, ie oil requiring additional reservoir 'flooding' to force the oil into the recovery zone.

'Enhanced Oil Recovery' via CO2 does not reduce global dependence on, or demand for, hydrocarbons. Global oil demand is rising - a relatively small proportion is met from CO2-EOR. The method does, however, offer the opportunity to potentially store several hundred gigatonnes of CO2 and enables utilisation of 'conventional' oil rather than non-conventional, eg tar sands.

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