TECHNO-ECONOMIC ANALYSIS OF CO2-EOR OF DEPLETED RESERVOIRS – AN APPLICATION IN THE LOKELE FIELD CAMEROON

This work presents a techno-economic analysis of CO2- EOR of depleted reservoirs, with a focus on its application in the Lokele Field in Cameroon. The study aims to assess the feasibility and potential benefits of CO2-EOR in the Lokele Field, as well as to identify the key technical and economic factors that affect its viability. The analysis is based on a comprehensive review of the relevant literature, as well as on field data and simulations. The results of the study indicate that CO2-EOR is a technically feasible and potentially profitable method for enhancing oil recovery in the Lokele Field. The simulations show that injecting CO2 into the reservoir can increase the recovery factor by up to 25 percent, depending on the injection rate, pressure, and other parameters. The economic analysis suggests significant economic benefits, including a net present value (NPV) of 1445 (USD million), a payback period (PBP) of 5.54 years, and an internal rate of return (IRR) of 25.69 percent. However, the analysis also reveals that the viability of the project is highly sensitive to key factors such as the Capital cost, discount rate, the oil price and the gas price. The study concludes that CO2-EOR can be a viable and attractive option for enhancing oil recovery in depleted reservoirs, including in the Lokele Field. However, its success depends on a range of technical, economic, and regulatory factors that need to be carefully considered and managed. The study suggests that further research and field testing are needed to refine the models and assumptions used in the analysis and to validate the findings.