Ongoing Relative Performance Evaluation for a CO2 EOR Asset in a Worldwide Peer Group

Abstract

Operators of a CO2 EOR asset need to know the relative performance level of their asset against its peers. The ongoing relative performance evaluation method is appropriate for this purpose. We first choose 52 CO2 assets around the world as the peer group, and then define the four ranking levels in terms of CO2consumption ratio. Only the final values of CO2consumption ratio for the group are obtained, and therefore cannot be used for an ongoing evaluation during a CO2 EOR asset's life circle. Consequently, numerical reservoir simulation is employed to quantify the process values corresponding to the four ranking levels. Type curve plots are generated on the basis of the process values and utilized for the ongoing relative performance evaluation of a CO2 EOR asset in China.