This study considers the generation of hydrogen by the conventional method of steam methane reforming using natural gas as feed. Natural gas extraction and transportation have been incorporated within the system boundaries of LCA. A base case has been assumed to account for the emissions related to the construction of necessary facilities. Calculations have been performed to determine the CO2 retention percentage based on the HCPV% of CO2 injected into the reservoir. Reservoir field segregation for CO2 sequestration and EOR have been carried out in three levels; initially with respect to location, then based on recovery potential (reserve in place), and finally narrowed down based on petrophysical parameters required for an economic EOR using CO2. The model is designed to perform sensitivity analysis for four major scenarios occurring during the process. This includes the location of the natural gas feed source, point of carbon capture, mode of CO2 transportation, and CO2 sink for sequestration and EOR.