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The merits of CO2 capture and storage to the environmental stability of our world should not be underestimated as emissions of greenhouse gases cause serious problems. It represents the only technology that might rid our atmosphere of the main anthropogenic gas while allowing for the continuous use of the fossil fuels which still power today’s world. Underground storage of CO2 involves the injection of CO2 into suitable geological formations and the monitoring of the injected plume over time, to ensure containment. Over the last two or three decades, attention has been paid to technology developments of carbon capture and sequestration. Therefore, it is high time to look at the research done so far. In this regard, a high-level review article is required to provide an overview of the status of carbon capture and sequestration research. This article presents a review of CO2 storage technologies which includes a background of essential concepts in storage, the physical processes involved, modeling procedures and simulators used, capacity estimation, measuring monitoring and verification techniques, risks and challenges involved and field-/pilot-scale projects. It is expected that the present review paper will help the researchers to gain a quick knowledge of CO2 sequestration for future research in this field.