I.4. Middle East
The following Figure 125 shows that a strong potential exists for storage projects in deep saline formation. Given the global CO2 emissions in the area, the global potential for storage seems to be largely exceeding the local requirements.
Additionally, some projects could be developed over the medium term in depleted fields. Fields availability is a major issue for CO2 storage. Indeed, with increasing oil prices, fields’ lifetime is extending. Their availability for CO2 storage therefore is difficult to assess. As discussed in section 5.3 page 110, CO2-EOR potential is really important in this region. However, for political reason, we do not expect the development of many EOR projects. The main driver for EOR projects in this region if for now the knowledge build-up.
We estimate that 5 storage projects could be reasonably developed in this area to cope with present and future emission sources.
Following the same probabilistic approach of success as was developed in section 4, these 5 candidates could bring 5 additional bankable projects.
Such additional projects would have the following cumulated success, and probabilistic failure cost. This gives an average success cost less than 30 M€ (Figure 126) which is the lowest cost on a regional basis (highly suitable areas).
Note: the line/arrow indicates the mean value (modal value) of the distribution