Perpustakaan Digital ITB

The concentration of CO2 in the atmosphere increases over time and creates environmental problems. This gas traps and stores heat in the atmosphere by emitting radiation and consequently causes changes in global temperature, thereby causing global warming effects. One method for reducing CO2 emissions highlighted as a large-scale solution is CO2 capture and sequestration into depleted gas reservoirs. This model is proposed as one of the new oil and gas business models by combining natural gas production and CO2 storage after the gas field reaches the economic limit. This can provide several benefits such as extending the life of field operations, generating more added value for contractors and governments, supporting the government's commitment to reduce CO2 emissions in the Paris Agreement, and achieving Low Carbon and Climate Resilience by 2050 in the energy sector. Reservoir simulation studies at Gas "X" field were conducted for 20 years of production, followed by CO2 sequestration until the reservoir pressure reached the initial reservoir pressure of gas production. Several sensitivity studies were conducted to obtain the best scenario in terms of technical and economic aspects for the development of this field. This study also aims to propose a gas price ($/MMBTU) and CO2 price ($/Metric Ton CO2) for this project, as well as an economically feasible split for the Injection Sharing Contract (ISC) for both Cost Recovery and Modified Gross Split schemes to provide an economically decent for both contractors and government. Gas field reservoir simulation “X” shows that the best scenario is the production of 60 MMSscfd. This scenario produces 343.70 BSCF with a Recovery Factor of 80.04% and a production plateau for 13 years (producing gas) and storing 24.22 million tons of CO2. The economic evaluation results show that the PSC Gross Split scheme model is more attractive to the Contractor. The economic evaluation results with the PSC Gross Split scheme provide IRR of 16.49%, NPV@10% of $89,721,652.65. The results of the economic sensitivity analysis show that the parameter gas price and gas production of this project is very influential on the economic indicators (IRR and NPV).