This session aims to create awareness of the recently published Guidelines for Applications of the CO2 Storage Resources Management System (SRMS). SRMS was developed and sponsored by the world’s foremost industry-focused professional societies, including SPE, AAPG, SEG, SPWLA, EAGE, SPEE and WPC.

The SRMS guidelines include suggestions for the application of the SRMS and include details of the processes of quantification, categorisation, and classification of storable quantities of CO2 so that the subjective nature of subsurface assessments can be consistent between storage resource assessors. The guideline was proposed in 2017, and formally accepted by the sponsoring organisations in 2021. Modelled on the Petroleum Resource Management System (PRMS), the SRMS guidelines is aimed at making the development of storage resources clearer by drawing parallels with the well-known and well-understood process of maturing petroleum resources.

Although a voluntary system, the intent is that regulators, government departments and financiers will be able to draw upon the experience of managing petroleum resources to advise on the management of carbon dioxide storage resources. Geological storage of CO2 can be in geologic structures or in regionally extensive dipping geologic formations. Inherent in storage is that displaced fluids are managed. The storage mechanisms are geologic, residual, solubility, and mineral trapping.