Perpustakaan Digital ITB

Indonesian Government's has a gas production target of 1 BSCFD by 2030. In parallel, however, in achieving netzero emission by 2050 due to the Paris Agreement, Indonesia should reduce the atmosphere's gas emissions. The injection of CO2 into coal reservoir known as CO2 Enhanced Coalbed Methane (CO2-E-CBM) has the potential for CO2 storage and to improve gas recovery. This strategy might be one of the CO2 reduction options while allowing the continuous utilization of fossil fuels. However, increased methane recovery usually coupled with increased economic costs make this project unattractive. Therefore, it is necessary to perform evaluation and research to evaluate CO2-E-CBM technically and economically feasible. This thesis focused on analysing the model and economic model contract for CO2 injection for E-CBM using Indonesia's current Production Sharing Contract (PSC). At the same time, the benefit of CO2 stored was calculated using the modification of the Production Sharing Contract (PSC) to become an Injection Sharing Contract (ISC). This paper aims to find the most profitable economic model and best scenario to inject CO2 into the coalbed methane reservoir. Reservoir simulation studies were conducted for 20 years of production by performing simulations using CMG GEM. Several injection rate sensitivities were undertaken to find effects on the storage capacity and financial performance. The study of the economic model contract refers to Indonesia's existing oil and gas contract model. For gas production, the Production Sharing Contract is used. In contrast, For CO2 storage, the Injection sharing contract scheme is based on modifying the Production Sharing Contract (PSC) Cost Recovery and PSC Gross Split, resulting in Injection Sharing Contract Cost Recovery and Injection Sharing Contract Modified Gross Split. Based on technical analysis, a series of injection rate sensitivity explained the best scenario for CO2-E-CBM. Scenario 35 MSCFD injection rate was chosen as the best scenario. The best case will be selected based on the scenario that provides the highest methane gas recovery, the highest value of CO2 storage, and injectant gas breakthrough at a production well is no more than 7%. The best scenario gives the ratio of replacement of CO2 molecule to methane molecule is 1.7:1 (rounded 2:1). This scenario will duplicate to one field and continue to the economic calculation. Then study sensitivity analysis for several fiscal parameters to find the most profitable model contract. From the economic calculation result, From the economic result, using Production Sharing Contract only, E-CBM project were not economically advantageous. This is because of the cost of drilling additional wells as injection wells and the cost of injection operations. But when a Production Sharing Contract combines with an Injection Sharing Contract, for both scheme Cost Recovery and Gross Split, the E-CBM project becomes more economically advantageous because of the additional financial benefit of the incentives of CO2 storage associated with the injection of CO2. The Gross Split model provides better economic returns for contractors. Economic sensitivity shows that several parameters such as CO2 price, gas price, and CAPEX have considerably influenced the economy.