US upstream company Occidental Petroleum is committed to carbon capture and injection as a method of boosting oil recovery both in its Permian shale operations and outside the US, CEO Vicki Hollub said last week. She was one of a number of industry leaders who outlined carbon capture projects around the world, many geared to utilizing CO2 from heavy industry in Europe and the US, at the Accelerating CCUS conference in Edinburgh. In the US, carbon capture got a boost this year from new tax credit legislation known as 45Q. Hollub said Oxy, as the largest “handler” of CO2 for enhanced oil recovery, was achieving recovery rates of as much as 70% at one of its conventional Permian reservoirs due to carbon injection, and aimed to extend CO2 injection to its Permian shale operations, following encouraging results from four pilot wells. With Permian producers typically only recovering 6%-12% of “in-place” hydrocarbons, carbon injection is likely to become widespread in the shale industry, and there are growing prospects for bringing piped carbon dioxide from industries in the central US to the Permian, Hollub said. “What we want to do is use enhanced recovery also in the shale play. We do know… continue reading
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Source: CTRM Center