Perpustakaan Digital ITB

Human activities, especially the burning of fossil fuels such as coal, oil, and gas, have caused a substantial increase in the concentration of carbon dioxide (CO2) in the atmosphere. CO2 sequestration in saline aquifer is regarded as a promising means of lowering the amount of CO2 emitted to the atmosphere and thereby mitigating global climate change. The development of CO2 sequestration in saline aquifer needs consideration both technical and economic. This study will evaluate the economic model contract for CO2 sequestration in saline aquifer. Reservoir simulation was conducted for 15 years of CO2 sequestration. This simulation study is completed using a compositional simulator Eclipse 300. Several injection rate scenarios were conducted for forecasting CO2 storage capacity. Economic calculation is done using modification of Production Sharing Contract (PSC) in Indonesia to become Injection Sharing Contract (ISC) both Cost Recovery and Gross Split. Several sensitivity studies were conducted to obtain best scenario both economic and technical. The best scenario is case 2 with 90 MMSCFD injection rate. The best scenario was based on both technical and economic aspect. This scenario then will be used for sensitivity analysis. From sensitivity analysis, author obtains several parameters that influence the economic indicator such as CO2 price, amount of CO2 injection, and capital expenditure. The Gross Split model contract provide better economic return for contractor.