{"refrec":{"BRefID":284212,"RR":"<b>Compernolle, T.; Welkenhuysen, K.; Huisman, K.; Piessens, K.; Kort, P.</b> (2017). Off-shore enhanced oil recovery in the North Sea: The impact of price uncertainty on the investment decisions. <i>Energy policy 101</i>: 123-137. <a href=\"https://dx.doi.org/10.1016/j.enpol.2016.11.034\" target=\"_blank\">https://dx.doi.org/10.1016/j.enpol.2016.11.034</a>","BEntID":276236,"PublicFlag":1,"CheckedFlag":1,"wosflag":1,"vabbflag":1,"RefStringPartII":". <i>Energy policy 101</i>: 123-137. <a href=\"https://dx.doi.org/10.1016/j.enpol.2016.11.034\" target=\"_blank\">https://dx.doi.org/10.1016/j.enpol.2016.11.034</a>","DocTypID":8,"DocType":"Journal article","MarineFlag":1,"FreshFlag":0,"BrackishFlag":0,"TerrestrialFlag":0,"Authorstring":"Compernolle, T.; Welkenhuysen, K.; Huisman, K.; Piessens, K.; Kort, P.","OrigTitleTranslFlag":0,"Authorstringtrunc":"Compernolle, T. <i>et al.</i>","Englishabstract":"Although CO<sub>2</sub> Capture and Storage (CCS) is considered a key solution for CO<sub>2</sub> emission mitigation, it is currently not economically feasible. CO<sub>2</sub> enhanced oil recovery can play a significant role in stimulating CCS deployment because CO<sub>2</sub> is used to extract additional quantities of oil. This study analyzes the investment decision of both a carbon emitting source and an oil company separately by adopting a real options approach. It is shown that when uncertainty is integrated in the economic analysis, CO<sub>2</sub> and oil price threshold levels at which investments in CO<sub>2</sub> capture and enhanced oil recovery will take place, are higher than when a net present value approach is adopted. We also demonstrate that a tax on CO<sub>2</sub> instead of an emission trading system results in a lower investment threshold level for the investment in the CO<sub>2</sub> capture unit. Furthermore, we determine a minimum CO<sub>2</sub> selling price between the two firms and show that CO<sub>2</sub>-EOR has the potential to pull CCS into the market by providing an additional revenue on the capture plant. However, when CO<sub>2</sub> permit prices are above an identifiable level, the EU ETS does not necessarily result in the adoption of CCS and stimulates oil production.","AbstractOtherLang":null,"BibLvlCode":"AS","StandardTitle":"Off-shore enhanced oil recovery in the North Sea: The impact of price uncertainty on the investment decisions","OrigTitleLangCode":"en","OrigTitleLangCodeExtended":"eng","OrigTitleLangID":15,"DateLastModified":{"date":"2024-12-10 01:33:17.368041","timezone_type":1,"timezone":"+01:00"},"UserAccessRight":null,"UserAccID":null,"AuthorKeywords":"CO2 enhanced oil recovery; Uncertainty; Real options analysis; Investment decision","OtherDescriptors":null,"Notes":null,"AnaPub":2017,"MonPub":null,"DateUpdate":"2021-10-12","DateCreate":"2017-03-28","SecASFANote":null,"ConfID":null,"PeerRev":1,"VlizCoreFlag":1,"WoScode":"WOS:000392768800012","VABBcode":"vabb:440086","OpenAcc":0,"DOI":"10.1016/j.enpol.2016.11.034"},"refs":null,"anarec":{"AnaID":284212,"PubliDate":2017,"Pagination":"123-137","XtraPublOfAnaID":null,"ISBN":null,"Volume":"101","Issue":null,"BRefMon":null,"BRefMonRR":null,"BRefXtra":null,"BRefXtraRR":null,"SerBRefID":220583,"SerRR":"Energy Policy. 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