Enhanced oil recovery (abbreviated EOR) is the implementation of various techniques for increasing the amount of crude oil that can be extracted from an oil field. Enhanced oil recovery is also called tertiary recovery (as opposed to primary and secondary recovery).

According to the US Department of Energy, there are three primary techniques for EOR: thermal recovery, gas injection, and chemical injection. Sometimes the term quaternary recovery is used to refer to more advanced, speculative, EOR techniques. Using EOR, 30 to 60 percent, or more, of the reservoir's original oil can be extracted, compared with 20 to 40 percent using primary and secondary recovery.

In 2018, the global Enhanced Oil Recovery market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.

This report focuses on the global Enhanced Oil Recovery status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Enhanced Oil Recovery development in United States, Europe and China.

The key players covered in this study

• BP
• Chevron
• Exxon Mobil
• Halliburton
• Royal Dutch Shell
• Schlumberger
• China Petroleum & Chemical Corporation
• PJSC Lukoil Oil Company
• Praxair Technology
• Petroleo Brasileiro
• Cenovus Energy

Market segment by Type, the product can be split into

• Thermal Recovery Enhanced Oil Recovery
• Gas Injection Enhanced Oil Recovery
• Chemical Injection Enhanced Oil Recovery

Market segment by Application, split into

• Onshore
• Offshore

Market segment by Regions/Countries, this report covers

• United States
• Europe
• China
• Japan
• Southeast Asia
• India
• Central & South America

The study objectives of this report are:

• To analyze global Enhanced Oil Recovery status, future forecast, growth opportunity, key market and key players.
• To present the Enhanced Oil Recovery development in United States, Europe and China.
• To strategically profile the key players and comprehensively analyze their development plan and strategies.
• To define, describe and forecast the market by product type, market and key regions.

In this study, the years considered to estimate the market size of Enhanced Oil Recovery are as follows:

• History Year: 2014-2018
• Base Year: 2018
• Estimated Year: 2019
• Forecast Year 2019 to 2025

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28 January 2019, The global Enhanced Oil Recovery (EOR) Market size is estimated to reach USD 55.02 billion by 2025, fueled by the increasing demand for energy in a broad range of applications including manufacturing, infrastructure and utilities. Rising number of aged wells resulting in low oil output has paved the way for advanced technologies including EOR to achieve optimum production.

Keeping these driving factors in mind, companies are focusing on developing advanced technologies to extract more oil from existing wells rather than erecting new wells. For instance, in June 2014, Statoil ASA opened its new research & development center for improved oil recovery at Rotvoll in Trondheim, mid-Norway.

BP, a producer of energy and EOR, launched the concept of “Bright Water”, which is a thermally activated microscopic particle that increases oil recovery by directing water into potentially untapped oil-rich areas. Since its inception, the technology has undergone several modifications to make it suitable for every type of terrain and age of the well.

Swift adoption of advanced technologies to enhance output and the presence of a large number of aged wells as compared to other regions has resulted in North America dominating the overall market with a volume share of 42.4% in 2016. A substantial amount of oil production in California and exploration of oil sands in Canada have generated a vast opportunity for the growth of the EOR market in North America. Moreover, favorable government regions supporting E&O activities is expected to boost growth over the next few years.

Browse Details of Report @ https://www.hexaresearch.com/research-report/enhanced-oil-recovery-eor-market

The presence of a significant number of onshore wells has resulted in the technology being utilized extensively in this application. However, these wells have reached their maturity resulting in lowered output. Nonetheless, untapped potential of offshore wells is expected to drive the demand for the technology in this segment which is likely to lead to a revenue growth of 8.4% from 2017 to 2025.

The industry has been marked by the presence of large-scale companies that have been operating in the market for a substantial period including ExxonMobil, BP, Chevron Philips, Shell, and Statoil. These players participate across the value chain and have very few discriminating factors among them. Ageing of wells coupled with rising population resulting in an escalating demand for energy is expected to augment the growth of the EOR market.

Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/energy-and-power-industry

11 December 2018 -

The global Enhanced Oil Recovery (EOR) Market size is estimated to reach USD 55.02 billion by 2025, fueled by the increasing demand for energy in a broad range of applications including manufacturing, infrastructure and utilities. Rising number of aged wells resulting in low oil output has paved the way for advanced technologies including EOR to achieve optimum production.

Keeping these driving factors in mind, companies are focusing on developing advanced technologies to extract more oil from existing wells rather than erecting new wells. For instance, in June 2014, Statoil ASA opened its new research & development center for improved oil recovery at Rotvoll in Trondheim, mid-Norway.

BP, a producer of energy and EOR, launched the concept of “Bright Water”, which is a thermally activated microscopic particle that increases oil recovery by directing water into potentially untapped oil-rich areas. Since its inception, the technology has undergone several modifications to make it suitable for every type of terrain and age of the well.

Browse Details of Report @ https://www.hexaresearch.com/research-report/enhanced-oil-recovery-eor-market

Swift adoption of advanced technologies to enhance output and the presence of a large number of aged wells as compared to other regions has resulted in North America dominating the overall market with a volume share of 42.4% in 2016. A substantial amount of oil production in California and exploration of oil sands in Canada have generated a vast opportunity for the growth of the EOR market in North America. Moreover, favorable government regions supporting E&O activities is expected to boost growth over the next few years.

The presence of a significant number of onshore wells has resulted in the technology being utilized extensively in this application. However, these wells have reached their maturity resulting in lowered output. Nonetheless, untapped potential of offshore wells is expected to drive the demand for the technology in this segment which is likely to lead to a revenue growth of 8.4% from 2017 to 2025.

The industry has been marked by the presence of large-scale companies that have been operating in the market for a substantial period including ExxonMobil, BP, Chevron Philips, Shell, and Statoil. These players participate across the value chain and have very few discriminating factors among them. Ageing of wells coupled with rising population resulting in an escalating demand for energy is expected to augment the growth of the EOR market.

Hexa Research has segmented the global EOR market on the basis of technology, application and region:

Segmentation by Technology, 2014 - 2025 (Million Bbl) (USD Million)

• Gas injection
• Thermal
• Chemical
• Others

Segmentation by Application, 2014 - 2025 (Million Bbl) (USD Million)

• Onshore
• Offshore

Segmentation by Region, 2014 - 2025 (Million Bbl) (USD Million)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• Russia
• Asia Pacific
• China
• Japan
• Australia
• Middle East & Africa
• Saudi Arabia
• Central & South America

Key players analyzed:

• China Petroleum & Chemical Corporation
• BP plc
• ExxonMobil Corporation
• Royal Dutch Shell plc
• Chevron Phillips Chemical Company LP
• Petronas
• Nalco Company
• Statoil ASA
• Lukoil Oil Company
• Praxair, Inc.

Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/energy-and-power-industry