Dear CCUS Conference Attendees,
The maturing carbon market is a major driver for carbon capture, utilization, and storage (CCUS) projects. Both the subsurface technical knowledge and related data sets of the petroleum industry are major inputs required for the world to successfully move towards a carbon-neutral and sustainable energy future. Over the past two decades, interest in CCUS has grown substantially due to the desire to decrease CO2 emissions and to help industrial sources more sustainable. Recently, policy instruments, such as the expanded 45Q federal tax credits – up to $35 per tonne for EOR and $50 for storage – and carbon credit >mechanisms under the low carbon fuel standard (LCFS) along the U.S. west coast, are providing opportunities that offset the costs of CCUS deployment which have previously been unaffordable for many companies.
AAPG leadership recognizes the important role our organization plays in the CCUS world and is making enthusiastic strides towards integrating petroleum geologists into the sphere. Current AAPG President, Gretchen Gillis, stated “A sustainable energy future depends on highly skilled, innovative geoscientists and engineers economically managing carbon. As hosts of CCUS 2022, AAPG brings together geoscientists and engineers who will leverage what they learn to achieve a lower carbon future. At a time of rapid change and enormous uncertainty, our industry must simultaneously address energy needs and environmental concerns, and events like CCUS help us understand how to do both.”
CCUS 2022 builds on the success of AAPG’s first CCUS-focused conference in 2021, with expanded sponsorship from SPE and SEG. Keynote speakers, luncheons, and technical sessions highlights current work in CCUS and tackles related challenges across three days.
- Subsurface Storage
- CO2 Enhanced Hydrocarbon Recovery
- Monitoring and Risk Assessment
- Case Studies
- International Projects
- Non-technical Challenges
- Economics and Finances
- Application of Machine Learning and Data Analytics
Our exciting line-up of speakers represent research institutions, universities, industry, and government. The presentations at CCUS 2022 demonstrate the ongoing need for petroleum geologists and engineers to lend their skills to help define the future of carbon management.
In addition, we have a fundamentals short course to introduce key concepts in CCUS the day before the technical sessions begin and the event is rounded off with two field trips, which show the science behind CCUS.
Where do energy professionals come into play? The technology and methodologies developed by the oil and gas industry are directly applicable in characterizing storage formations, caprocks, development of representative models, monitoring, well design, and ensuring the safe construction of injection sites. Energy professionals are uniquely suited to evaluate candidate storage formations and EOR fields for CCUS programs, including using vast amounts of industry data for qualifying new storage projects.
How does this benefit the petroleum industry? Given the world’s reliance on fossil-fuels for at least the next few decades, CCUS offers a path to sustainable development within the petroleum industry and to meet increasingly stiff emission regulations. The near-term use of CO2 for EOR also helps maximize production of stranded oil, thus reducing the environmental footprint relative to field development. Finally, the petroleum industry is uniquely qualified to deploy large-scale geological storage commercially while creating an additional revenue stream.
How can you get more involved? There are many opportunities within AAPG, SPE, and SEG including sustainability committees, technical interest groups, environmental-based divisions, and conference planning and participation. If you would like to get more involved, reach out to your organization’s groups!
Thank you all for attending and participating in CCUS 2022. I hope you enjoy the range of topics and talks, and more importantly, are inspired to advance CCUS work or become more involved in CCUS.
CCUS 2022 Committee Chair