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The global Enhanced Oil Recovery Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.

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enhanced oil recovery market price packaging

Enhanced Oil Recovery Market Price, Packaging Trends, Industry Outlook & Forecast 2017-2024

global market scenario of furfural industry

Global Market Scenario of Furfural Industry

  • Increasing number of matured fields along with growing need for crude to meet the petroleum product demand will foster the enhanced oil recovery market size. As per the Energy Information Administration, the consumption of petroleum and other liquids from the non-OECD region is projected to increase from 44.8 million b/d in 2012 to 74.8 million b/d by 2040. The mature fields accounted for over 70% of the overall production, with many of the fields in the secondary or tertiary production stage. Ability to raise oil recovery factor of well from 5%-15% to 35%-75% will favor the technology adoption.
  • Government initiatives toward adoption of oil recovery technology coupled with associated environmental benefits will embellish the enhanced oil recovery market share. The U.S. introduced National Enhanced Oil Recovery Initiative to boost the crude production of the country and reduce CO2 emissions through the extended use of the technology. In July 2017, NEORI introduced a FUTURE Act to accelerate the installation of technologies to capture CO2 emitted from power plants and other industrial applications.
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  • Technological advancements toward development of hybrid systems combining water flooding with surfactant or polymer to reduce the overall unit cost will stimulate the enhanced oil recovery market. Growing measures to adopt eco-friendly methods including microbial EOR will further influence the business landscape.
  • Reasons to Buy This Report:
  • 1. Enhanced Oil Recovery size & share forecast by product & application, 2017-2024
  • 2. Growth drivers, pitfalls & industry challenges
  • 3. Enhanced Oil Recovery Market growth opportunities & emerging business models
  • 4. Competitive benchmarking with market share analysis and company profiles
  • Low chemicals cost along with potential to enhance recovery rates cornering by 70% will stimulate chemical enhanced oil recovery market growth. Companies are adopting innovative technologies to improve their overall production which may stimulate the product demand. For instance, Wintershall in collaboration with BASF has developed a Schizophyllan biopolymer EOR method to enhance productivity up to 10%.
  • CO2 enhanced oil recovery market size, in 2016 was valued over USD 10 billion. Ability to offer high miscibility with oil, low mutual solubility with water, and environmental benefits are some of the key features which will encourage the product penetration. In July 2015, Saudi Aramco launched a carbon capture and EOR pilot project with an aim to enhance oil production using 40 million MMSCFD of CO2 at the Uthmaniyah field in Saudi Arabia.
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