Greenhouse gas (GHG) emissions related to the Farnsworth Unit’s (FWU) carbon dioxide enhanced oil recovery (CO2-EOR) operations were accounted for through a gate-to-gate life cycle assessment (LCA) for a period of about 10 years, since start of injection to 2020, and predictions of 18 additional years of the CO2-EOR operation were made. The CO2 source for the FWU project has been 100% anthropogenically derived from the exhaust of an ethanol plant and a fertilizer plant. A cumulative amount of 5.25 × 106 tonnes of oil has been recovered through the injection of 1.64 × 106 tonnes of purchased CO2, of which 92% was stored during the 10-year period. An LCA analysis conducted on the various unit emissions of the FWU process yielded a net negative (positive storage) of 1.31 × 106 tonnes of CO2 equivalent, representing 79% of purchased CO2. An optimized 18-year forecasted analysis estimated 86% storage of the forecasted 3.21 × 106 tonnes of purchased CO2 with an equivalent 2.90 × 106 tonnes of crude oil produced by 2038. Major contributors to emissions were flaring/venting and energy usage for equipment. Improvements on the energy efficiency of equipment would reduce emissions further but this could be challenging. Improvement of injection capacity and elimination of venting/flaring or fugitive gas are methods more likely to be utilized for reducing net emissions and are the cases used for the optimized scenario in this work. This LCA illustrated the potential for the CO2-EOR operations in the FWU to store more CO2 with minimal emissions.