Managing risk in CCS projects
EU Directive [EU2011a-d] and ISO standards [ISO27914] insist on the management of risk in CCS projects. Operators are required to demonstrate their risk management throughout a project and demonstrate that their operations take place within designated ranges, through the use of MMV (Monitoring Measurement and Verification).
CCS Risk categories are fourfold: capacity, injectivity, integrity, and monitoring. In each of these categories it is possible to avoid or treat risk, but occasionally risks must be taken and the potential impact mitigated as best as possible. Decision-makers look at all the data and information gathered at each point of the project to manage the level of risk. For example, during the assessment stage when initial data is gathered, analytical methods or numerical models can be created to estimate the chance of occurrence of a hazard and the magnitude of impact. Such analyses indicate whether additional data and more sophisticated models are required to further assess the risk.
The next step in risk management is the identification of corrective measures to either reduce the chance of occurrence of a hazard or reduce its magnitude (or both). Models and analytical studies are used to demonstrate how any risk can be reduced. Continuous monitoring then enables the project to remain within safe operating ranges, e.g. for injection rates, temperature, and downhole pressure.
If a particular risk cannot be circumvented, corrective measures must be introduced to reduce the impact. For example, in the case of a leakage event at the injection platform, a CO2 blanket can develop and deprive the environment of oxygen. This means that the operator requires appropriate PPE to work on a solution to the leak, safely.
MMV is therefore vital to managing risk and making the right decisions throughout every stage of a CCS project. MMV enables risks need to be defined, mitigating actions to be taken, and importantly, enables your project to stay within safe limits, before, during and after the project close.
PanTerra can support you with managing the risk at any stage of your CCS/CCUS project. For more information, see the poster from the recent @EAGE GET2024 Conference exploring Risk Management in CCS Projects, presented by PanTerra, or contact @Marcel Zwaan
GET 2024 – PanTerra CCS Conference Poster
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