Ann: Pivotal Carbon Capture and Storage Approval for Cliff Head, page-36

Just out. Very interesting read/take on CCS currently.
80 More Years of Oil: The Big Attraction of Carbon Capture
Carbon capture and storage (CCS) technology can significantly extend the productivity of near-depleted oilfields.CCS could potential extend the lifespan of oilfields by many decades.Governments, including those of Canada, the UK, and the US, are heavily subsidizing CCS projects with billions in tax credits and incentives.
Over the past few years, Big Oil has been heavily investing in carbon capture and storage (CCS) technology, ostensibly to offset CO2 emissions from the energy commodities they produce.
Environmentalists have largely dismissed these efforts as mere greenwashing, with experts warning that CCS technology is so far unproven at the scale needed for meaningful decarbonization.
Well, maybe environmentalists have been right all along, with new research revealing that carbon capture can extend the productivity of near-depleted oilfields for many decades.
Calgary-based senior geological advisor Menhwei Zhao has conducted an AAPG Bulletin study regarding the use of CCS in Enhanced Oil Recovery (EOR).
He analyzed more than 22 years of production data from the Weyburn Midale oil pool in Saskatchewan, which since 2000 has been receiving carbon dioxide injections thus making it the world’s longest-running EOR project. Zhao concluded that the pool would have stopped producing oil by 2016 without CO2 injection, but that “enhanced oil recovery could extend the pool’s lifespan to 39 or even 84 more years.”
Although Zhao acknowledges that he focused on a specific project in Canada, he says he would expect to see “similar results” for large-scale CCS projects around the world.
Zhao’s claims might not be exaggerated: The Wasson Field’s Denver Unit CO2 EOR project resulted in a nearly seven-fold increase in crude production after injecting CO2.
These findings come at a time when Canadian and Alberta governments are lining up more than $15.3 billion in tax credits to the country’s largest oil sands producers for CCS projects. Canada is not alone.
The U.K. government is promising £20 billion in CCS subsidies while U.S. oil and gas producers can obtain a tax credit of $85 for every tonne of carbon dioxide they bury in underground geological formations (the credit is lowered to $60 per tonne if the CO2 is used for EOR).