Carbon Dioxide (CO2) Storage Management System

On Friday the 23rd of June 2023, I moderated a webinar with the theme “Carbon Dioxide (CO2) Storage Management System: A Strategic Tool for Energy Investment”

I was glad to listen in as the speaker, Doris Ife Ipinniwa, a seasoned energy professional broke down the implications of a CO2 SRMS modelled after the successful Petroleum Resource Management System (PRMS).

You see, Carbon Capture, Utilization and Storage (CCUS) technologies offer great value in sustainability and transition to net-zero. Therefore, the CO2 storage process must be made economically attractive with incentives to encourage more investment.

Little wonder then, that the SPE in 2017 launched the Storage Resource Management System (SRMS) modelled after the Petroleum Resource Management System (PRMS), to provide a universal framework for assessing Carbon storage process in order to provide insight on the amount of CO2 storage available in a location, the maturity of the project and the return on investment of the project.

The SRMS currently applies to CO2 storage in depleted reservoirs and Saline aquifers.

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