Carbon capture and oil recovery could slash Colombia's emissions by a quarter
The researchers looked into using CO2 to help extract more oil while capturing and storing the excess CO2 underground. Their goal was to see if this method could reduce greenhouse gases from Colombia's oil industry. They found that by matching up different CO2 sources with suitable oil fields, Colombia could store 142 million tons of CO2 and produce 465 million barrels of oil. The estimated cost for capturing CO2 ranged from 12 to 209 euros per ton, while the cost during oil extraction varied from 24 to 59 euros per ton. Overall, this approach could cut 25% of the predicted oil industry emissions in Colombia between 2025 and 2040, contributing 7% toward the country's emissions reduction goals by 2040.