Enhanced Oil Recovery (EOR) Global Market Trends, Emerging Growth and Forecast By 2023
The Global Enhanced Oil Recovery industry. The report segments the market on the basis of technology and region and also provides the forecasts and estimates for each technology. The report also analyses the demand and supply characteristics of the market by providing a detailed forecast and analysis of volume and revenue for the period 2013 to 2023.
Enhanced Oil Recovery method mainly uses three technologies including Thermal injection, Gas injection and Chemical injection.Thermal injection technology is mostly used for the extraction of heavy viscous crude oil. Thermal energy is injected into the reservoir for increasing the temperature and reducing the viscosity of crude oil. Steam injection and in-situ combustion are common using methods for thermal injection. Widely used steam injection methods are steam assisted gravity drainage (SAGD), cyclic steam stimulation (CSS) and steam flooding. Steam injection method is mostly used in oil sands with some ongoing projects in Canada, California and Indonesia. SAGD method is mostly used in heavy oil sands of Alberta region. Steam flooding method is used for light oil reservoirs that has a depth of less than 3,000 feet. In-situ method is mostly used on heavy oil sandstone reservoirs.
Countries such as Canada and Romania, have some ongoing projects using In-situ combustion process. The gas injection method is applicable for light oil reservoirs. It specially uses CO2 on carbonate and sandstone fields. Gas injection technology is expected to increase for two reasons including disposal of greenhouse gas and increase in oil recovery. Other gases such as hydrogen and nitrogen are also used for oil recovery but to a limited extent. The CO2. Chemical EOR method uses alkali, polymer and surfactant solutions to increase oil recoveries. Objective of chemical EOR method is to reduce the interfacial tension between water and oil through the use of surfactant solutions and to control the mobility by adding polymers. Commonly used polymer in chemical EOR method is Hydrolyzed polyacrylamide. Major chemical EOR projects are operational in countries such as India, Canada and Brazil. Thermal EOR is suitable for heavy oil extraction. Maximum oil reserves have heavy oil hence; thermal injection EOR technology dominates the global EOR market. However, with advancements in technology gas injection and chemical injection EOR technologies are rising at a remarkable rate. Gas injection technology serves a dual purpose: disposal of greenhouse gas and extraction of crude oil from the reservoirs. CO2 released into the atmosphere through power generation and industrial sector, is utilized in gas injection technology to extract crude oil. Thus the huge amount of CO2 is captured for EOR technologies which may pollute the environment. With the upcoming chemical EOR projects in countries, share of chemical EOR technology is going to increase in the coming years.
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Asia Pacific, North America, Europe, and Rest of the World (RoW) are the major geographic areas covered in this report. Each geographical region has been segmented further on the basis of the technology, and volume forecasts and estimates for each segment have been provided for the period 2013 to 2023.
The report also provides a thorough analysis and revenue of companies such as Anadarko Petroleum Corporation, BP Plc, Cenovus Energy Inc, Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and Statoil ASA among others. The report also provides key players involved in SSG systems such as Hammon Deltak Inc, Nooter/Eriksen, Premier Energy Inc, Vogt Power and EN-FAB among others. The report provides a detailed analysis of the various factors influencing the enhanced oil recovery industry with the help of Porter’s five force analysis. The analysis also helps to understand the degree of competition in the market. The report also analyses the value chain and the various drivers and restraints of the enhanced oil recovery market.
Enhanced Oil Recovery Market: Technological Analysis
Enhanced Oil Recovery Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)