Environmental issues are on top of governments and companies’ agendas. The main focus is on global warming and means to reduce greenhouse gases, being carbon dioxide the main contributor. The consumption of fossil fuels is creating an irreversible effect on the planet, and it is expected to continue for years to come. In order to offset its usage are the emerging carbon capture and storage (CCS) projects. Their main obstacle is economical, and that’s where enhanced oil recovery through CO2 can help. This dissertation assesses the development options of an offshore Brazilian discovery, by comparing water injection method with carbon dioxide enhanced oil recovery (EOR CO2) imported from an anthropogenic onshore source. The main EOR CO2 technical challenges for offshore application are examined, detailing field proven and yet to be developed solutions, from reservoir management, wells engineering to the production unit, passing through CO2 acquisition and transportation. Next, economical feasibility of both methods are compared, with a slight advantage for EOR on the base case. Nevertheless, due to high uncertainties in method success prior to development and commitment, and also to carbon dioxide import prices, the range of results can shift the decision making, and such sensitivity analysis is also presented. A carbon inventory is also made, showing the net positive balance of selecting EOR CO2, which reduces the component’s concentration in the atmosphere. Finally, the applicability of carbon credits is discussed and its economical impact quantified. There is still a long way to go for the widespread utilization of anthropogenic EOR CO2 in offshore projects. By pointing out the main challenges to be addressed, including technical, commercial and regulatory, by presenting an economical model comprising environmental aspects, and most of all, showing its attractiveness, this dissertation aims to reduce this gap.