Ensemble based co-optimization of carbon dioxide sequestration and enhanced oil recovery

► A framework is developed to co-optimize the oil extraction and CO2 sequestration for carbon sequestration in oil reservoirs. ► The ensemble-based optimization (EnOpt) algorithm is utilized to optimize the project net present value. ► The project net present value is optimized through adjusting the well injection patterns and rates. ► With optimized engineering operations, the oil recovery and the carbon storage can be increased significantly.