EOR Screening Criteria Revisited – Part 2: Applications and Impact of Oil Prices

J.J. Taber, F.D. Martin, R.S. Seright – 1997

Abstract

This companion paper to Part 1 demonstrates applications of EOR screening criteria and examines the impact of oil prices on EOR activity. The CO2 screening criteria are used to estimate the total quantity of CO2 that might be needed for the world’s oil reservoirs. If only depth and oil gravity are considered, approximately 80% of the world’s reservoirs could qualify for some type of CO2 injection. Despite lower oil prices since 1986 reducing EOR project counts, actual incremental production has tracked closely with NPC predictions for $20/bbl scenarios. CO2 flooding incremental production has actually exceeded those predictions. Screening criteria are recommended as a first-pass filter prior to economic evaluation, particularly for large-scale portfolio analysis.

Key Takeaways

  • Approximately 80% of the world’s oil reservoirs could qualify for some type of CO2 injection based on depth and gravity alone — a remarkable statistic that underscores CO2 EOR’s enormous global potential.
  • Despite oil prices falling below $20/bbl after 1986, actual EOR incremental production tracked closely with NPC predictions made for $20 oil — demonstrating that EOR investment decisions are not as price-sensitive as commonly assumed.
  • CO2 flooding incremental production actually exceeded NPC $20/bbl predictions by the late 1990s — confirming that CO2 EOR was on a fundamentally different growth trajectory from other EOR methods.
  • Screening criteria enable rapid portfolio analysis — the paper demonstrates scanning large reservoir populations (hundreds of fields) for CO2, steam, and polymer suitability using only a few commonly measured parameters.
  • Lower oil prices reduce new EOR project approvals but do not halt production from existing EOR projects — the installed production base continues producing regardless of price cycles.
Read Article

Related Articles