International Journal of Advanced Engineering Research and Science (IJAERS) ISSN: 2349-6495(P) | 2456-1908(O) Vol-8, Issue-2; Feb, 2021 Journal Home Page Available: https://ijaers.com/ Journal DOI: 10.22161/ijaers Article DOI: https://dx.doi.org/10.22161/ijaers.82.24 www.ijaers.com Page | 192 A Framework Approach for Risk Assessment and Management of CO 2 Geological Storage Talita Pontes 1* , Drielli Peyerl 2 , Evandro Moretto 3 1,2 Institute of Energy and Environment, University of São Paulo, Brazil 3 School of Arts, Sciences and Humanities and Institute of Energy and Environment, University of Sao Paulo, Brazil *Corresponding author Received: 02 Dec 2020; Received in revised form: 20 Jan 2021; Accepted: 05 Feb 2021; Available online: 19 Feb 2021 ©2021 The Author(s). Published by AI Publication. This is an open access article under the CC BY license (https://creativecommons.org/licenses/by/4.0/). Keywords— carbon capture and storage, CO2 geological storage offshore, risk assessment, risk management. Abstract—The aim of this article is to analyze the particular contributions provided by the Risk Assessment and Management framework to the CO2 geological storage process on the offshore oil and gas sector. The CO2 geological storage, inherent to Carbon Capture and Storage (CCS) activities, is characterized as an effective mitigation option to reduce the levels of this gas in the environment. The risk assessment allows the identification of the most significant risks and impacts, respecting the facilities characteristics, the geological conditions of the basin and the associated natural processes, assisting to propose measures that reduce the probability or the magnitude of their occurrence. Then, this analysis requires an understanding of the stages of the frameworks for Risk Assessment of CO2 storage streams in geological formations of the main international organizations, based on studies of the literature reviewed for these purposes. In fact, the risk management procedures are necessary to maximize the intended isolation and to minimize the effects of possible CO2 leakage. Finally, the results demonstrate a consistent relationship between the Risk Assessment and Management tool and its frameworks specificities for this activity. I. INTRODUCTION Emerging Carbon Capture and Storage (CCS) technologies are primarily aimed at achieving an environmental benefit by removing large amounts of CO2 from the atmosphere and contributing to the reduction of problems associated with climate change (Bui et al., 2018; EA, 2011). The CO2 geological storage, inherent to this technology, is used worldwide with the potential for further expansion, as it can be considered a transition technology for reducing greenhouse gas emissions (Singh et al., 2011, 2012). Because it is an innovative method and due to the operational complexities of the project, potential risks to health, safety and the environment can occur (Abu- Khader, 2005) (Koornneef et al., 2011). In this way, understanding the risks associated with this technology becomes of fundamental importance (J. Blackford et al., 2009). The international literature is largely focused on work associated with the International Energy Agency Greenhouse Gas R&D (Research & Development) Programme (IEA GHG) (IEA GHG, 2007; Yanagi et al., 2019). The IEA GHG has established a Risk Assessment Network from which much of the available literature has been produced (Beck & Aiken, 2009). A large portion of the work completed to date has been in the commercial sector, which inhibits the availability of detail and means that often what is available has not been peer reviewed. Much of the work under the heading of risk assessment focuses on understanding specific aspects of the sequestration and storage process that may produce a