Identifying the best ROI for potential CCUS sites

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Trinidad and Tobago, South America, Offshore

In preparation for Trinidad and Tobago's upcoming licensing round and on behalf of a customer, Ä¢¹½´«Ã½ leveraged its digital technologies and real-world data to evaluate and prioritize three potential offshore carbon storage sites in the region. Benchmarking against other successful storage sites, Ä¢¹½´«Ã½ was able to successfully identify the licensing blocks offering the best storage potential.

To make the best-informed decision regarding the CCUS potential of three offshore blocks in Trinidad and Tobago for an upcoming licensing round, Ä¢¹½´«Ã½ was selected to screen and rank the sites for their geologic, economic, and environmental viability.

Using digital technologies together with real-world data, Ä¢¹½´«Ã½ successfully prioritized the licensing blocks offering the best return on investment in line with the goals of the potential licensee. Ä¢¹½´«Ã½ applied a meticulous, science-based assessment of the three blocks (A, B, C) using a multistep process that encompassed precise screening, benchmark comparison, critical ranking, and sensitivity analysis. This included using 67 key criteria from the Ä¢¹½´«Ã½ proprietary workflow to evaluate potential sites based on a breadth of technical and nontechnical data. These criteria helped ensure alignment with the customer's defined requirements. The findings were compared with high-standard carbon storage site characteristics from the Illinois Basin and the Utsira Formation. Among the three blocks, site C scored the highest and is comparable to Utsira, indicating that it has the attributes necessary for a storage project as successful as Sleipner, the longest ongoing project on CO2 storage in the world.

These new opportunities for carbon storage were ranked alongside two of the most well-established sites for CCUS, the Illinois Basin and offshore Norway.
These new opportunities for carbon storage were ranked alongside two of the most well-established sites for CCUS, the Illinois Basin and Utsira Formation, offshore Norway.
Effective characterization of above- and below-ground project risks and uncertainties facilitates the creation of targeted work plans to address these scenarios, fostering well-informed business decisions.
Technical Director and CCUS Project Manager
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