Sequestering CO2 in depleted oil reservoirs provides one of the most appealing measures to reduce greenhouse gases (GHG) concentration in the atmosphere. The remaining liquids after enhanced oil recovery (EOR) processes, including residual oil and remaining water, lead to the main challenges to this approach. How to effectively evacuate a depleted oil reservoir by recovering not only residual oil but also remaining water is a critical consideration for this type of CO2 sequestration. This paper presents conceptual investigations concerning the methods which effectively evacuate depleted oil reservoirs from both the displacement efficiency and the sweep efficiency points of view. To improve the displacement efficiency, surfactant slug and solvent slug injection was examined using a core scale numerical model. Investigations regarding improving sweep efficiency, such as horizontal well pattern infilling and foam injection, were carried out based on a typical row well pattern. Simulation results showed that surfactant slug which modified the relative permeability and capillary pressure remarkably reduced both residual oil saturation and remaining water saturation. A CO2 slug injected before surfactant slug can help improve the oil recovery. Solvent enriched CO2 slug also remarkably reduced the residual oil saturation to as low as 2%. Horizontal well pattern infilling had great advantage for thick or inclined reservoirs, and foam slug injection greatly improved CO2 storage capacity in thin reservoirs by improving the sweep efficiency. Maximum mobility reduction (MRF) is the most important parameter to maximize the storage capacity and the benefit. The variation of CO2 storage capacity along with CO2 slug size. Larger foam slug size will play a better storage performance. The conceptual simulation investigations confirmed that depleted oil reservoirs can be effectively evacuated for CO2 storage. Depleted oil reservoirs with maximum evacuation are the best candidates for CO2 sequestrations.