Application of SPE SRMS and Certification of CO2 Storage Capacity

Abstract

Assessment and certification of CO2 storage “capacity”, which is analogous to an oil or gas “reserve”, is an increasing focus area for those seeking storage and the investment community. The Society of Petroleum Engineers (SPE) 2017 CO2 Storage Resources Management System (SRMS) provides a classification framework to assess CO2 storage quantities which is likely to become widely adopted. Guidelines to support the SMRS are needed and expected during 2022. As companies in Indonesia seek recognition of carbon storage projects the complexities of the 2017 SRMS are discussed through theoretical and actual case studies. Specific technical issues with saline aquifer storage and depleted gas field storage differ but can largely be solved. However, the commercial requirements to mature “storage resources” to “capacity” are more complex. Both are discussed in this paper. A key criterion is the commerciality test required to move “contingent storage resources” to “capacity”. The commercialization pathway of CO2 storage projects will vary significantly between direct air capture (DAC), emissions reduction and third party CO2 disposal. In addition, the legislative framework in the host country or the investors country may have implications on what can be claimed as “capacity”. Developing the Indonesian Carbon Capture and Storage (CCS) sector depends on understanding current definitions of “capacity” and how future guidance, or investor requirements, may develop. The SRMS provides not only a framework for classification and certification, it can also be useful to expose successful strategies on the route to commercialisation.