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<p>Carbon Dioxide (CO<sub>2</sub>)&#xa0;emissions have contributed to the rise in global warming. Therefore, there is a need to implement techniques to facilitate carbon capture and storage (CCS). This study assessed the feasibility of utilizing carbon pricing for revenue generation of carbon dioxide (CO<sub>2</sub>) storage project of a reservoir in an onshore field of the Niger Delta Basin, Southern Nigeria. This study developed an economic (deterministic) model from technically simulated gas model data. Three economic indicators were analyzed the “NPV (Net Present Value)”, “IRR (Internal Rate of Return)” and the Payback time for a projection of 15-year project timeframe. The input parameters include the capital expenditure (CAPEX), operational expenditure (OPEX), discounted rate, volume of CO<sub>2</sub> stored and “CCT (Carbon Credit Tax)”. The reservoir stores approximately 1.72 million tonnes of CO<sub>2</sub> per annum at a carbon credit price of 40 dollars per tonne ($40/ ton) as an initial assumption. The finding reveals it will take 4.62&#xa0;years for the project to recover the initial cost of investment at a profitable IRR of 18.7% and a positive NPV of $46.6 million. Assessing the NPV sensitivity by varying the carbon credit tax reflects that at $33.4/ton the project will attain break-even point. Thus, higher carbon credit tax resulted in a potential increase of the NPV, IRR and payback time. This reflects a strong relationship between the economic indicator and the carbon credit tax. </p>

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Economic Feasibility Assessment of Ccs-Cct Development of an Onshore Field, in the Niger Delta Basin, Nigeria

  • 期刊论文

  • 发表日期：

    2025年7月10日

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  • Chioma Oluchukwu Maduewesi,
  • Adewale Dosumnu,
  • Uche Osokogwu,
  • Chidozie Izuchukwu Princeton Dim

摘要

Carbon Dioxide (CO2) emissions have contributed to the rise in global warming. Therefore, there is a need to implement techniques to facilitate carbon capture and storage (CCS). This study assessed the feasibility of utilizing carbon pricing for revenue generation of carbon dioxide (CO2) storage project of a reservoir in an onshore field of the Niger Delta Basin, Southern Nigeria. This study developed an economic (deterministic) model from technically simulated gas model data. Three economic indicators were analyzed the “NPV (Net Present Value)”, “IRR (Internal Rate of Return)” and the Payback time for a projection of 15-year project timeframe. The input parameters include the capital expenditure (CAPEX), operational expenditure (OPEX), discounted rate, volume of CO2 stored and “CCT (Carbon Credit Tax)”. The reservoir stores approximately 1.72 million tonnes of CO2 per annum at a carbon credit price of 40 dollars per tonne ($40/ ton) as an initial assumption. The finding reveals it will take 4.62 years for the project to recover the initial cost of investment at a profitable IRR of 18.7% and a positive NPV of $46.6 million. Assessing the NPV sensitivity by varying the carbon credit tax reflects that at $33.4/ton the project will attain break-even point. Thus, higher carbon credit tax resulted in a potential increase of the NPV, IRR and payback time. This reflects a strong relationship between the economic indicator and the carbon credit tax.