Select Page

Market Overview:-

The global enhanced oil recovery market is driven by the fact that many government policies and initiatives support the extraction process. For instance, the power generation industry deals with the issue of CO2 emission from the operations of thermal power plants. One of the methods of oil recovery by gas technology type is by the use of CO2. This is the main reason that government initiatives and support policies enable the use of enhanced oil recovery methods, as CO2 can be used in oil recovery methods. Moreover, one of the other major drivers for the market is the increasing number of mature oil fields around the world. Many offshore oil production sites in the Gulf of Mexico and North Sea are rapidly reaching their end of operational lifetime and enhanced oil recovery methods are implemented to extend the oil fields operation. Besides, the global is expected to grow in recent years with increasing consumption from countries such as China, India, and other developing countries.

Market Segmentation:-

On the basis of technology, the enhanced oil recovery market is segmented as thermal, chemical, microbial, and others. The thermal and chemical methods are more established procedures with several practical projects being already carried out. The chemical methods traditionally use polymer, alkaline, and surfactant methods to extract more oil from existing wells.

Industry Top Key Players:-

  • FMC Technologies, Inc.
  • Chevron Phillips Chemical Corporation
  • Schlumberger Ltd.
  • Praxair Technology, Inc.
  • PJSC Lukoil Oil Company
  • Royal Dutch Shell Plc
  • Halliburton Corporation, Basf SE
  • Baker Hughes
  • Statoil ASA, BP Plc.
  • Exxon Mobil

Get Sample Report @ https://www.marketresearchfuture.com/sample_request/5900 

Scope of the Report:-

This report provides an in-depth analysis of the global enhanced oil Recovery market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia Pacific (APAC), Middle East, Africa and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Enhanced Oil Recovery market by its technology type, application type, and by region.

By Technology Type

  • Thermal
    • Steam Injection
    • In-Situ Combustion
    • Hot water
  • Chemical
    • Polymer
    • Alkaline
    • Surfactant
    • Others
  • Microbial
    • Cyclic Injection
    • Microbial Flooding
    • Feeding Existing Bacteria
    • Others

By Application Type

  • Onshore
  • Offshore

By Regions

  • North America 
  • Asia Pacific 
  • Middle East and Africa
  • Europe
  • Rest of the World  

Browse Complete Report @ https://www.marketresearchfuture.com/reports/enhanced-oil-recovery-market-5900 

Market Research Analysis

 

North America and Europe regions are expected to command a major market share

By US EIA s, the U.S. is dominating the market for enhanced oil recovery processes. The country has several support legislatures and policies that support the use of enhanced oil recovery methods. Several oilfields in the Gulf of Mexico are rapidly reaching their operational lifetime and, thus,  enhanced oil recovery methods are being implemented widely. Similarly, the European region is witnessing an increased implementation of oil recovery process due to rapidly maturing fields in the North Sea region. In the Middle East and Asia Pacific, onshore wells are undergoing an increased implementation of oil recovery processes. Developing countries, such as India, Indonesia, and Malaysia, are expected to contribute to the growth of the market in the coming years.