Oil companies are increasingly investing in advanced oil recovery technologies to increase oil field productivity and recovery, with the aim of meeting Paris Agreement targets and zero carbon emissions by 2050.
Equinor, for example, has committed to becoming NetZero by 2050 and is developing a strategy to combine oil and gas production efficiently in terms of carbon reduction. Petrobras, which has adopted recovery programs to prolong the useful life of the oil fields in the Campos basin, is reaping positive results with approved projects for the Roncador field.
With the proposed strategic alliance to produce in the Roncador field in 2018, the expectation is to increase the recovery of the field by 1 billion barrels of oil equivalent, with the participation of Equinor. In addition, other opportunities should arise, such as the 4D seismic carried out in the field in 2022 and the forecast for the approval of two other campaigns in the coming years, together with a well for the acquisition of reservoir data, especially in the Albian and Pre-Albian carbonates. salt.
Incentives for oil recovery technologies have been offered in several countries. In the United States, the first incentives appeared in the 1970s, as a result of the oil crises. In China, there is a reduction of around 30% in taxes for oil production using these technologies. Canada, on the other hand, offers government incentives that vary according to the state, such as reducing royalties and taxes on production, in addition to the allocation of royalty credits to CO2 injection projects.
In Norway and the United Kingdom, there are incentives for investments in mature fields, allowing costs to be deducted before taxes on revenues. In Brazil, the best practices in the oil industry recommend the economic maximization of the recovery factor (RF), in accordance with Brazilian regulations, which establish the continuous search for this maximization.
The quest to increase the recovery of deposits before net-zero is a growing trend among oil companies, which seek to create long-term value and contribute to a more sustainable energy industry.
The recovery of deposits before net-zero refers to the efforts of oil companies to increase productivity and recovery of oil fields, using advanced technologies, to meet the goals of the Paris Agreement and zero carbon emissions by 2050. The idea is to maximize oil and gas production in the short and medium term, without having to make large investments that cannot be amortized in time. This is a growing trend among oil companies, which are looking to create long-term value and contribute to a more sustainable energy industry.
