The 91视频鈥檚 Center for Carbon Management in Energy (CCME) hosted the symposium 鈥淩evitalization of Old Oil Fields with CO2-EOR: The Next Frontier for CCUS鈥� on October 28, 2026, bringing together industry experts, researchers, and policymakers to discuss the future of carbon dioxide enhanced oil recovery (CO2-EOR). Led by Charles McConnell, Executive Director, CCME, the event explored opportunities to increase domestic oil production while supporting long-term carbon storage, focusing on technical feasibility, project economics, and the policies needed to expand CO2-EOR deployment in the US. The symposium also featured a discussion on CCME鈥檚 recently published white paper, 鈥淩evitalization of Mature Oil Fields: Opportunities and Challenges of CO2-EOR鈥� authored by Charles McConnell and Zhiyuan Li, which provides a more detailed analysis of the topic area.
The morning sessions began with Steve Melzer, who provided an overview of CO2-EOR technology and the long history of CO2-EOR deployment in the Permian Basin. Melzer was followed by Matt Wallace, who highlighted the significant untapped oil resources in conventional reservoirs, residual oil zones (ROZs), and unconventional formations in the US. A panel featuring Steve Guillot, Matt Wallace, and Scott Wehner examined the economics of CO2-EOR, including CO2 supply, infrastructure requirements, field redevelopment costs, and federal incentives such as Sections 45Q and Section 43. Steve Everly then discussed policy considerations influencing the expansion of CO2-EOR and CCUS, emphasizing the growing demand for reliable energy, regulatory developments, and opportunities to integrate carbon management with industrial growth.
Charles Gorecki speaks during the afternoon sessions during the symposium.
The afternoon sessions continued with discussions on regional development, commercial opportunities, and investment considerations related to CO2-EOR. Charlie Gorecki and Mike Nasi shared perspectives on CO2-EOR opportunities in unconventional reservoirs, emerging technologies, and regulatory challenges. Vishal Gupta presented Occidental Petroleum (Oxy)鈥檚 approach to expanding CO2-EOR and carbon management operations, while Dr. Victor Sharma demonstrated the University of Houston鈥檚 economic modeling framework that takes into account how project costs, oil prices, tax incentives, and long-term cash flow affect investment decisions.
The speakers reinforced that CO2-EOR represents a significant opportunity to extend the productive life of existing oil fields while enabling permanent geological carbon storage. They also stressed that realizing this potential is contingent upon several factors such as reliable CO2 supplies, sound reservoir engineering, favorable economics, supportive policies, and effective risk management. The symposium highlighted the importance of collaboration among industry, academia, and policymakers in turning current CO2-EOR opportunities into commercially viable projects, thus advancing practical carbon management solutions that support the three pillars of energy sustainability: energy accessibility and reliability, affordability, and environmental responsibility.
"We are grateful for the active participation from those in the marketplace with real-life experience and perspectives to share. This is the foundational strength of our CCME and UH Energy," said Charles McConnell.