Risk management for CO2 geological storage projects

Abstract

A number of key challenges relating to potential CO2 reservoir capacity, injectivity and confinement need to be overcome when validating the performance of a storage system for its lifecycle. In the case of a failure of a storage operation, the environment, investments, and human health and safety, may be at risk. It is therefore important to use risk management methods to ensure that the project will meet its objectives in all aspects. The aims of risk management are both to identify and evaluate all the risks that could impact the project objectives, and to establish treatment, monitoring actions and plans to reduce the impact of risks thereby ensuring the project performance. This Chapter discusses the implementation of risk management for a CO2 geological storage project.