VPS Projects

OXY-FUEL DECARBONIZES OIL FIELD OPERATIONS

VPS has screened and identified an initial 28 potential projects and is advancing two projects, one in Canada and one in the U.S.

The Canadian project utilizes pipeline-quality natural gas in an enhanced oil recovery (EOR) operation. Our U.S. project utilizes a natural gas return- stream contaminated with CO2, also in an EOR operation.  Each project generates carbon-free electrical power used in oil field operations and for sale to the grid while the CO2 is safely sequestered in the oil and gas reservoir for 100% capture of the GHG emissions.

VPS serves as project manager for the first two projects.  The projects are being jointly developed in the Hestia Consortium, comprised of VPS and three international oil field service and engineering companies.

Oxy-Fuel Benefits to Oil and Gas Operators

  • Additional CO2 provided extends economic life of reserves in the ground and can lower lease operating expense (LOE)
  • Reduced carbon foot-print
  • Can qualify for Low Carbon Fuel Standards (LCFS)
  • Eliminates or reduces electricity draw from the grid
  • Now qualifies for 45Q under the new CO2 threshold under Inflation Reduction Act of 2022
  • Reduced or eliminated emissions can help meet ESG requirements