SC 03: The Techniques and Business Aspects of Carbon Capture, Utilization and Storage and the CO₂ Storage Resources Management System (SRMS)
Hilton University of Houston, Shamrock Ballroom A
Friday, 28 April 2023, 8:00 a.m.–5:00 p.m. | Houston, Texas
Who Should Attend
Professionals of any discipline who are or will be responsible for estimating and reporting storable quantities of carbon dioxide. Also, those who use such estimates for business decisions, including management, legal and accounting staff.
The SRMS is a powerful management tool that provides a means to classify and characterize storable quantities of carbon dioxide in a manner similar to that provided by the PRMS for oil and gas reserves and resources. This course will provide you with a thorough understanding of the principles and guidelines of what is likely to become the global standard for CO₂ storage.
Furthermore, course attendees will receive valuable insights into the economics and investment case for CCS and related investments.
As part of the international effort to combat global warming, significant attention is being given to ways to sequester (store for the long-term) carbon dioxide, which is a major contributor to the greenhouse effect. It is therefore critical that there is a universal means to record the storage volumes by recognizing the maturity of the projects to be implemented and the confidence that can be placed in the estimated sequestered volumes.
GaffneyCline is proud to have assisted Santos by auditing the storage quantities for the Moomba CCS facility in the Cooper Basin, Australia. Santos is believed to be the first company in the world to report Capacity using the SRMS.
This one-day course will look at some of the ways in which carbon dioxide can be stored and provide a detailed review of the SRMS framework prepared by the Society of Petroleum Engineers to classify and categorize the storage volumes. The course will include example calculations to show how the storage quantities can be estimated. The advantage of an in-house course for participants is that any confidential situation can be freely discussed.
An additional feature of the course syllabus will feature the economics of CCS in the context of the various carbon pricing and policy incentives that are being developed, with an assessment of the risks involved in capture, transport, and storage. The economic framework in which CCS operates around the world will be described, with examples given to illustrate how the investment case is evolving.
Although there are a number of business models emerging, the most popular of these will be set out, with a description of how risks are being assessed and allocated between project participants, host governments and lenders.
The first part of the course will provide:
- An overview of carbon capture, utilization and storage, including the role of greenhouse gasses
- Discussion of typical modes of storage of carbon dioxide in saline aquifers and depleted oil and gas fields
- Detailed review of the SRMS, including principles and key definitions
- Discussion of economics and evaluation methods
- The methodologies are illustrated with examples
The economic and commercial features of the course will cover:
- The cost base involved in capture, transmission, and storage
- Carbon pricing methodologies and their relevance to CCS
- The emerging investment case for CCS around the world, including policy support and incentives
- The CCS business model and risk allocation
- 30 Attendees
- Educational Units:
- 8 PDH
- 0.8 CEU
- Continental Breakfast
- Digital course notes
Hilton University of Houston
4450 University Dr
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