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122
Fig. 1. NPV & IRR for scenario 1a and 1b in k $ (2007) dollar (discount rate 10%,
long forecasting oil price 40 $ per barrel (a), and oil price 60 $ per barrel (b))
Rys. 1. Rentowno inwestycji NPV i IRR dla scenariusza 1a i 1b w tys. $ (2007).
Zaoona cena ropy naftowej 40 $ za baryk (a) oraz 60 $ za baryk (b)
6.000
4.000
2.000
0
(2.000)
(4.000)
(6.000)
(8.000)
(10.000)
(12.000)
(14.000)
0% 10% 20% 30% 40% 50% 60%
IRR
N
P
V
(
k
$
)
40 $ per bbl
60 $ per bbl
TABLE 4
Comparison of NPV and IRR for each scenarios (NPV in k $, assumed discount rate 10%)
TABLICA 4
Porwnanie wartoci NPV i IRR dla kadego scenariusza (NPV w tys. $,
zaoona stopa dyskontowa 10%
NPV IRR
Scenario 1a 5840 6.2%
Scenario 1a 2120 13.9
Scenario 2a 41530 44.8%
Scenario 2b 50230 51.2%
Scenario 3a 17700 37.7%
Scenario 3b 42300 51.0%
5. Conclusions
Based on analysis from the reservoir modeling it was possible to calculate the EOR
proles for each reservoir scenario (primary restrictive scenario, primary forced scena-
rio, EOR CO
2
scenario, EOR CO
2
/N
2
scenario). In the restrictive scenario only 11% of
primary recovery is assumed in 25 years exploitation, 33% during forced production
by 25 years, and 38% and 56% has been obtained from modeling for scenario 2 & 3
123
after 25 and 36 years of exploitation (EOR CO
2
). The scenario for CO
2
/N
2
gives 53% for
36 years. Total eight economical scenario has been calculated (two base scenario at oil
price 40 and 60 $ per bbl, and additional four scenarios with CO
2
injection two scenarios
for CO
2
/N
2
injections). From economical point of view CO
2
/N
2
project may be tech-
nological effective is generally non protable. The best scenario for designing of early
Fig. 3. NPV & IRR for scenario 3a and 3b in USD (2007) dollar (discount rate 12%,
long forecasting oil price 40 $ per barrel (a), and oil price 60 $ per barrel, (b))
Rys. 3. Rentowno inwestycji NPV i IRR dla scenariusza 3a i 3b w tys. $ (2007).
Zaoona cena ropy naftowej 40 $ za baryk (a) oraz 60 $ za baryk (b)
Fig. 2. NPV & IRR for scenario 2a and 2b in USD (2007) dollar (discount rate 12%,
long forecasting oil price 40 $ per barrel (a), and oil price 60 $ per barrel (b))
Rys. 2. Rentowno inwestycji NPV i IRR dla scenariusza 2a i 2b w tys. $ (2007).
Zaoona cena ropy naftowej 40 $ za baryk (a) oraz 60 $ za baryk (b)
0% 10% 20% 30% 40% 50% 60%
N
P
V
(
k
$
)
IRR
40 $ per bbl
60 000
50 000
40 000
30 000
20 000
10 000
0
(10 000)
60 $ per bbl
0% 10% 20% 30% 40% 50% 60%
N
P
V
(
k
$
)
IRR
40 $ per bbl
50 000
40 000
30 000
20 000
10 000
0
(10 000)
60 $ per bbl
124
application of EOR is scenario 2b, which is result of high oil price (60$) and additional
income from CO
2
storage service (assumed 8 $ per tone). The scenario 3 gives also high
NPV but high CO
2
cost (at the level 12 $ per tone) diminishes NPV about 15%. The
analysis show that very restrictive primary production may be uneconomical, because
may not cover capital cost related to drilling of wells in the rst stage of project.
6. Acknowledgements
This study is funded by the Ministry of Science and Higher Education grant R09 02301
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Received: 06 August 2007