Saudis Announce 2013 CO2 Injection Plan For Ghawar - But Insist KSA "Does Not Need" Large-Scale EOR

[hatrack]

The project, planned for 2013, involves injecting about 40 million cubic feet of carbon dioxide daily into an area flooded by water in the Arab-D reservoir in the Ghawar field, Prince Abdulaziz Bin Salman Al-Saud, the country’s assistant minister for petroleum affairs, said today at a carbon capture and storage conference in London.

The oil recovery project is aimed at helping spread a technology that the International Energy Agency today said is a necessary tool to cut by half global emissions of carbon dioxide from fossil fuels by 2050.

It will be the first of its kind in Saudi Arabia, a member of the Saudi delegation said.

“It’s worth mentioning that Saudi Arabia does not need to produce oil through enhanced oil recovery at production scale for decades to come,” Bin Salman Al-Saud said in a Bloomberg report. “This is a key focus area in our carbon management technology road map,” a set of Saudi policies to help reduce greenhouse-gas emissions blamed for global warming.

EDIT

http://www.upstreamonline.com/live/article195770.ece

[cliffordu]

1. Apparently those idiots don't read "The Oil Drum"

[PeaknikB]

2. OPEC...

It is going to become painfully obvious that the OPEC nations are approaching peak or have past peak shortly, with the "proven" reserve inflation in the 80s it should be right around the corner.