A techno-economic model for CO_2 injection into oil reservoirs and aquifers has been developed. The model consists of a CO_2 transportation module and an EOR module that are integrated with an economic model which calculates investment costs and running costs for injection into both oil reservoirs and aquifers. By use of the techno-economic model, a CO_2 injection scenario that includes 18 Norwegian oil fields in the North Sea and unspecified aquifers has been studied. The project lifetime in the scenario is 40 years where CO_2 is deposited at a constant rate of 67.2 million tonnes/year. The CO_2 is delivered through a main pipeline infrastructure that transports CO_2 from industrial sources in EU and Norway. In the early phases of the injection period, most of the CO_2 is delivered to oil reservoirs, but through the 40-year period more and more CO_2 is injected into aquifers. Breakthrough CO_2 from the oil reservoirs is re-circulated. A limited set of sensitivity analyses have been made for the scenario where the oil price, the cost of CO_2 for enhanced oil recovery, investment and operating costs, injection rates and total lifetime of the project have been varied. For the various cases studied in the sensitivity analysis, the potential for incremental oil production ranges from 335 to 403 million Sm~3, or from 7.9 to 9.5% of the original hydrocarbon pore volume. The amounts of CO_2 injected into aquifers range from 1115 to 1486 million tonnes for the 40-year injection period. The purchase price for CO_2 from the sources (e.g. power industry) ranges from 7.9 to 12.8 USD/tonne for the cases studied. This is significantly lower than present-day costs for CO_2 capture.
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