Comparative Study of CO2 Storage Capacity Estimation in Depleted Oil & Gas Reservoir: A Case Study in Vermillion Basin Gulf of Mexico

CO2 emissions rates have seen an exponential growth from the 19th century up till date, if no drastic measures and plans are implemented to prevent this exponential growth the consequence will be devastating. The notion of achieving net-zero greenhouse gas emissions gained prominence through the Paris Agreement, a groundbreaking accord reached at the United Nations Climate Change Conference. This agreement was devised to mitigate the impact of greenhouse gas emissions. To execute the net-zero CO2 emission plan, the USDOE has set a new goal to remove gigatons of carbon dioxide (CO2 ) from the atmosphere and durably store it for less than $100/ton of net CO2 -equivalent. Making such a goal a reality requires an accurate estimation of CO2 storage capacity for the successful implementation of Carbon Capture and Storage (CCS) technologies, and the assessment of the impact of CCS to the reduction of CO2 emissions. Hence this paper serves as a template for accurately estimating CO2 storage capacity in depleted saturated oil reservoirs with initial gas cap using three approaches: Volumetric, Production and Correlation-based methods and compares the accuracy of the estimates. A case study was conducted on a depleted VR273_Q combination sand in the Vermillion Basin, Gulf of Mexico (GOM). The deterministic and stochastic (P50) CO2 storage capacity estimates from the Volume-based method are 1.21 million tonnes (Mt) and 1.23 Mt respectively, while the deterministic CO2 storage capacity estimates from the Production and Correlationbased method are 1.32 Mt and 1.41 Mt respectively. All three approaches showed similar results, with little deviations attributed to petrophysical uncertainties arising from data gaps i.e., absence of well logs to key wells. However, these uncertainties are captured by Stochastic (P90) CO2 storage capacity estimates of 1.47 Mt from the Volume-based method. Although the Correlation-based approach slightly overestimates the CO2 storage capacity, it can be used as a starting point for quick estimation as it only requires production data which are readily available on various databases for GOM. Finally, through this paper, opportunities for concerned agencies to make well-informed energy-related policies and business decisions are made possible.