“We have calculated how many wells we need to achieve the emission targets within a two-degree scenario. This shows that we only need a fraction of the historical oil industry: about 12,000 wells around the world. That is perfectly achievable, ”says Philip Ringrose.
Capturing CO2: financially and practically feasible?
Geology professor Philip Ringrose, affiliated with the Norwegian University of Science and Technology, and his team published the results of their research into the possibilities of storing captured CO2 in strata in Nature Scientific Reports. The technology to capture that CO2 is not yet fully developed, but according to Prof. dr. Ringrose "we have to start as soon as possible". There are also still questions about the financial picture and the practical feasibility of capturing CO2.
As many drillings as in the Gulf of Mexico
Drilling will have to be done to store the CO2 under the seabed. Capacity calculations by the Norwegian team show that 12,000 wells worldwide should suffice, the equivalent of the number of wells in the oil-rich Gulf of Mexico over the past 70 years. The correct locations for those drillings (and storage) will mainly depend on the pressure the rock can handle and how easy it is to drill into a given rock.