Optimum design of CO2 storage and oil recovery under geological uncertainty

The simulation results were compared to a scenario baseline case that predicted CO2 storage of 74%. The results showed an improved approach for optimizing oil recovery and CO2 storage in the FWU. The optimization model predicted that about 94% of CO2 would be stored and most importantly, that this increased storage could result in about 25% of incremental oil recovery. The sensitivity analysis reduced the number of control variables to decrease computational time. A risk aversion factor was used to represent results at various confidence levels to assist management in the decision-making process. The defined objective functions were shown to be a robust approach to co-optimize oil recovery and CO2 storage.