Enhanced Oil Recovery (EOR) Market Hits $ 283 billion By 2020: Grand View Research, Inc.

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Global Enhanced Oil Recovery (EOR)Market
Expected To Reach USD 283 Billion By 2020 Grand
View Research, Inc.

• Grand View Research has announced the addition of
  "Global Enhanced Oil Recovery (EOR) Market
  Analysis And Segment Forecasts To 2020" Market
  Research report to their Database

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• Global enhanced oil recovery (EOR) market(
  http//www.grandviewresearch.com/industry-analysis
  /enhanced-oil-recovery-eor-market ) is expected
  to reach USD 283 billion by 2020, according to a
  new study by Grand View Research, Inc. Growing
  global energy demand is expected to remain a key
  driving factor for global EOR market. Rising
  number of mature oil wells, particularly in the
  Middle East and Latin America coupled with high
  productivity yields associated with EOR
  techniques is also expected to have a positive
  impact on the market growth over the next six
  years. Long lead time coupled with volatile crude
  oil prices is expected to remain a key challenge
  for market participants.    
• Thermal EOR was the most dominant technology and
  accounted for 49.9 of total market volume in
  2013. Growing demand for high hydrocarbon
  recovery in low permeability and mature reserves
  coupled with technological advancements is
  expected to drive growth in this segment. It is
  the most conventional EOR technology used today
  and has reached its maturity level. However,
  thermal EOR technologies are expected to lose
  some amount of its share to other high growth
  technologies such as chemical and gas injection
  techniques over the forecast period. Chemical EOR
  technique is estimated to gain market share over
  the next few years particularly in Asia Pacific
  and Middle East. Novel techniques coupled with
  superior characteristics over their counterparts
  are expected to drive chemical EOR market over
  the forecast period.

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• Further key findings from the study suggest
• Global EOR market was 2,681.6 million barrels in
  2013 and is expected to exceed 16,000 million
  barrels by 2020, growing at a CAGR of 29.9 from
  2014 to 2020.
• North America emerged as the leading regional
  EOR market and accounted for 36.4 of total
  market volume in 2013. Depleting productivity in
  mature reserves coupled with increasing shale
  plays has been driving EOR market growth in the
  region over the past decade.
• Europe is expected to witness significant growth
  rate of 35.7 over the forecast period owing
  increasing demand for primary energy along with
  growing requirement for self-sufficiency in crude
  oil supplies due to existing geopolitical unrest.
  Majority of future demand is expected to come
  from non-OECD countries such as Brazil,
  Indonesia, Nigeria, Venezuela, China and Russia.
• Key market participants have patented
  technologies and have been continually involved
  in RD to enhance productivity keeping in mind
  the environment impacts. Global enhanced oil
  recovery market is moderately consolidated. Major
  companies operating in the global market include
  BP, Chevron, Royal Dutch Shell and Exxon Mobil.
  Some other companies in the market include Conoco
  Phillips, Praxair Technology Inc., Nalco Company,
  China Petroleum Chemical Corporation, Petronas,
  Petrobras, Nalco Company, Lukoil and Statoil.
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• For More http//www.grandviewresearch.com/industr
  y-analysis/enhanced-oil-recovery-eor-market

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• Request free sample of this Report
  http//www.grandviewresearch.com/industry-analysis
  /enhanced-oil-recovery-eor-market/request
• For the purpose of this study, Grand View
  Research has segmented the enhanced oil recovery
  market on the basis of technology and region
• Global Enhanced Oil Recovery (EOR) Technology
  Outlook (Volume, Million Barrels, Revenue, USD
  Billion, 2012 - 2020)
• Thermal
• Gas Injection
• Chemical
• Global Enhanced Oil Recovery (EOR) Regional
  Outlook (Volume, Million Barrels, Revenue, USD
  Billion, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
•  

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• Browse all reports at http//www.grandviewresearc
  h.com/industry/conventional-energy
• About Grand View Research
• Grand View Research, Inc. is a market research
  and consulting company that provides off-the-
  shelf, customized research reports and
  consulting services. To help clients make
  informed business decisions, we offer market
  intelligence studies, ensuring relevant and
  fact-based research across a range of industries,
  from technology to chemicals, materials and
  energy. With a deep-seated understanding of
  varied business environments, Grand View
  Research provides strategic objective insights.
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• Contact
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• Corporate Sales Specialist, USA Grand View
  Research, Inc Phone [phone]
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