SPE Live: CO2 Storage Resources Management System and Committee
The CO2 Storage Resources Committee (CSRC) is responsible for matters related to estimating, classifying, categorizing, and reporting CO2 storage resources in the context of the CO2 Storage Resources Management System (SRMS).
In July 2017, the SPE Board approved the CO2 SRMS. The document, written by the CSRC, a subcommittee of the SPE CCUS Technical Section, establishes storage resources evaluation standards based on geologic and project maturity. The SRMS Guidelines, released in July 2022, includes suggestions for the application of the SRMS with the intent of including details of the processes of quantification, categorization, and classification of storable quantities so that the subjective nature of subsurface assessments can be consistent between storage resource assessors.
The CO2 SRMS provides a classification and categorization system that reflects geologic certainty and project maturity of storable quantities. The SRMS classes indicate the level of project maturity, which is indicative of data available, management commitment to mature the project, and the degree to which all permissions (regulatory, contractual, and financial) to store CO2 are completed at the time of the assessment. The Storage Capacity classification indicates the highest level of project maturity, while the Prospective Storage Resources classification is the class for undiscovered storage resources, with the lowest level of project maturity. The categorization of storable quantities indicates geologic certainty, e.g. P90 and P10. An update to the 2017 SRMS, which expands the SRMS from geologic storage to include CO2 enhanced oil recovery, is expected at the end of 2024.
Join this SPE Live for a conversation with the experts about SRMS and CSRC.
Moderated by Jacqueline Roueche, SPE CSRC SRMS Update SC Chair. Senior Program Manager at American Petroleum Institute.
Speakers:
– George Koperna, SPE CSRC Governance and Membership SC Chair. Vice President at Advanced Resources International, Inc.
– Scott M. Frailey, SPE CSRC Chair. Reservoir Engineer at Illinois State Geological Survey.
Additional Resources:
Held on Wednesday, July 3, 2024
