CO2 Enhanced Oil Recovery

Institute for 21st Century Energy | U.S. Chamber of Commerce

[From Press Release]  The U.S. Chamber’s Institute for 21st Century Energy has issued a new report detailing the contribution that a groundbreaking technique is making on American oil field production—with the promise of much more.

 Carbon Dioxide Enhanced Oil Recovery (CO2 EOR) uses CO2 to increase the production of oil from existing oil fields.  Already, this technology is responsible for 350,000 barrels of oil a day—nearly 6 percent of total U.S. oil production…
An analysis by the U.S. Department of Energy projects that EOR could economically recover 67 billion barrels of oil, assuming a price of $85 per barrel.  That would translate into $1.4 trillion in new government revenue, as well as billions in private investment.
CO2 EOR is used to capture stranded oil that cannot be produced using conventional techniques by injecting pressurized carbon dioxide into a formation to stimulate new oil production.   The carbon dioxide traditionally comes from naturally occurring reserves, but future expansion will rely on man-made CO2 produced at industrial facilities…

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