Title: PPT for Enhanced Oil Recovery Market
1Enhanced Oil Recovery Market Share and Forecast
2017-2024
Enhanced Oil Recovery Market Size, Industry
Analysis Report, Regional Outlook (U.S., Canada,
Mexico, UK, Norway, Russia, China, Indonesia,
India, Australia, Saudi Arabia, UAE, Kuwait,
Algeria, Egypt, Brazil, Venezuela), Application
Development, Competitive Market Share Forecast,
2017 - 2024
2Global Market Scenario of Enhanced Oil Recovery
- Global enhanced oil recovery market size is
projected to witness significant growth over the
forecast period due to increasing demand of crude
oil across developing countries. - It has been anticipated that during the forecast
period the import of crude oil will experience
exponential growth across non-producing regions
which will further enhance the business size. - Primary or natural recovery only enables 20-25
of original oil in place to travel to the surface
on its own while rest trapped oil is produced
through EOR methods. - Favorable government strategies and regulations
will complement the global enhanced oil recovery
market to expand substantially over the forecast
period. - Countries including the U.S., China, Russia and
Norway are inclined to improve their annual
production which include production by EOR
methods.
3- Product Analysis-
- Based on injection fluid, global enhanced oil
recovery market is segmented into thermal
recovery, gas injection and chemical injection.
Gas injection is projected to witness significant
growth over the forecasted timeframe owing to the
CO2 or nitrogen injection in the reservoir thus
limiting the harmful emissions. Chemical
injection and thermal recovery are projected to
observe moderate growth over the forecast period
subject to their reservoir penetration and
ability to lift high viscosity product to the
surface. - Regional Trends-
- U.S. enhanced oil recovery market is anticipated
to observe significant growth due to growing
number of stripper wells across the country. Low
crude oil prices forcing investors to increase
life of the residual oil from these stripper
wells influencing EOR processes. In 2015, over
11 and 8 of the OG production had come from
the stripper wells. - UK enhanced oil recovery market shall see a high
potential growth over the forecast period. The
projects operating in UK continental shelf has
large potential for carbon capture storage (CCS)
followed by EOR operations. In 2016, the Oil and
Gas Authority (OGA) of UK launched an EOR
Delivery Program to provide strategic
commissioning of existing and future EOR projects
by 2021 and simultaneously produce over 250
million barrels of oil equivalent over next
decade.
4- Competitive Trends
- Enhanced oil recovery market includes key players
such as ExxonMobil, Whiting Petroleum, Royal
Dutch Shell, China Petroleum Chemical, Chevron
Phillips Chemical Company, BP, Petroleo
Brasileiro, Lukoil and Cenovus Energy. The market
is partially consolidated in nature and has less
number of small scale players. The leading
companies rely on regional providers to increase
their share and geographical existence in the
market. Agreements, joint ventures and contracts
are the major advances observed across the
industry.
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