India’s Hydrocarbon Outlook 2024 205 A Report on Exploration & Production Activities globally, applying carbon capture, utilization, and storage (CCUS), with over 700 projects in various stages of development across the CCUS value chain. The projected total amount of CO2 that could be captured by 2030 is around 435 million tonnes (Mt) per year. Captured CO₂ can be injected into depleted oil & gas fields, Deep Saline aquifers, fracture Basement Reservoirs (Basaltic Reservoir), enhanced CBM recovery and enhanced oil recovery while providing a permanent storage solution. This dual benefit not only mitigates CO₂ emissions but also optimizes resource extraction, aligning with both sustainability and economic objectives. Despite its vast potential, CCUS faces significant challenges, primarily related to financing and technological development. High initial costs, uncertain revenue streams, and the need for substantial infrastructure investment pose major financial barriers. Technological advancements are needed to improve capture efficiency, reduce costs, and ensure the safety and reliability of CO₂ storage. India has recognized the critical importance of CCUS in its climate strategy. Reports from Niti Aayog “CCUS Policy Framework and Deployment Mechanism in India,” and the draft report by the Ministry of Petroleum and Natural Gas (MoPNG) “CCUS Road Map 2030”, outline the nation’s plans to integrate CCUS technologies. These documents highlight the potential for CCUS to support India’s energy transition and industrial decarbonization efforts. In India, CCUS initiative has taken by ONGC who has identified Gandhar field in Gujarat as a pilot project. This project involves CO₂ captured from the Koyali refinery of IOCL for Enhanced Oil Recovery (EOR). Similarly, Oil India Limited (OIL) has identified the Barail Sand of Naharkatiya Oilfield for CO₂ EOR after capturing CO₂ from IOCL’s Digboi refinery. CCUS, being a transformative technology, has the potential to significantly reduce CO₂ emissions. Unlike intermittent renewable sources like solar and wind, geothermal energy offers a remarkably high and consistent capacity factor, meaning it can generate electricity around the clock, unaffected by weather conditions or time of day. However, its widespread adoption also faces unique challenges that must be addressed through innovative policies, strategic investments, and a shift in public perception. The emerging new technologies of Enhanced Geothermal System (EGS) and Multilateral Closed Loop Geothermal System based on the multilateral horizontal drilling along with the hydrofracturing has opened new horizons in the field of low tomediumenthalpy geothermal reservoirs. The CO2 Plume Geothermal (CPG) system can contribute to carbon sequestration by storing CO2 underground while simultaneously generating clean electricity. Geothermal Power: Unlocking Earth’s Natural Heat As the world transiting towards a sustainable future, geothermal energy emerges as a promising and reliable source of renewable power. This versatile resource, harnessing the Earth’s internal heat, offers significant advantages over traditional energy sources.
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