The selection of depleted oil and gas fields as potential CO2 geological storage sites has both positive and negative aspects that need to be considered. The positives are that the storage capacity or pore volume can be reliably estimated from field's production history, and reservoir characterization can be performed with more readily available well, log or seismic data without additional expenses. The main drawback is the presence of wells in the field, as each well may provide a leakage pathway for injected CO2. The leakage potential of a well is a function of its proximity to injection wells, cement coverage in the potential storage zone, well abandonment conditions including cementing of the annular space, and the nature of any barriers to prevent CO2 leakage to the surface. Qualitative and quantitative risk-based approaches can be used to identify the wells that have comparatively higher leakage probabilities in comparison to other wells. The objective of this study is to use a risk-based approach to identify and categorize wells based on their leakage potential in depleted oil and gas fields. This will not only help in planning injection strategies but may also help in selection of remediation strategies. The model may be presented well by using the Fault Tree Analysis (FTA) technique. It implements screening criteria and a tier-based approach in which wells are screened and categorized into different tiers based on different well characteristics. The well characteristics include the physical distance from injection wells, the quality and portion of cement coverage of wells in the target zone, the regulations at the time of well completion, the leakage potential of sealing barriers for the targeted zone, the number of overlying shale and sand intervals and leakage of either CO2 or brine to shallower wells, the nature and quality of permanent or temporary well abandonment procedures, and the quality and length of annular space covered with cement for shallower well casings or sections. Existing models for well leakage are used to quantitatively estimate the leakage rate. The risk of leakage is presented qualitatively and quantitatively in the form of leaked CO2 volume to shallow aquifers or to the atmosphere. The approach is used for a representative depleted oil and gas field in southern Louisiana to show an example application of the process. The developed model provides a means to systemically identify the wells that are more likely to leak and have high consequences. Due to the reduced order nature of the tool, it should prove to be a useful tool in the planning and execution phase of the CO2 sequestration process.

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