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Abstract This paper discusses a comprehensive economic analysis of the full lifecycle of Carbon Capture and Storage (CCS) systems. It evaluates the direct costs and broader economic factors, including infrastructure and technological advancements that influence CCS scalability and feasibility. Our study seeks to illuminate the complexities and financial and environmental implications of implementing CCS technologies across different stages and locations. We employ a multifaceted approach that includes data collection from industry sources and developing an integrated comprehensive cost analysis model. This method incorporates various CCS components—capture, transport, injection, storage, and monitoring. The model is validated against historical data to ensure reliability and adaptability to different CCS scenarios. Through rigorous data analysis and model testing, we provide accurate and actionable insights. Our findings include a detailed cost model tool and associated analyses. In line with previous studies and industry insights, capturing costs emerges as the dominant expenditure, potentially accounting for up to 70% of the total CCS project costs. Our findings also highlight the significant financial impact of monitoring expenses, underscoring the necessity of incorporating economic analysis for each monitoring type. The sensitivity analysis identifies critical cost drivers and evaluates the impact of changes in key parameters. This novel cost model stands as a comprehensive assessment of CCS projects to date, surpassing existing models in the literature. This fusion of financial and environmental analyses introduces new dimensions to understanding economic sustainability in CCS, facilitating optimized resource allocation and strategic planning. It provides substantial benefits to stakeholders in the petroleum industry by enhancing environmental and economic efficiencies in CCS implementation.
Elsayed et al. (Mon,) studied this question.