Global Enhanced Oil Recovery Market- Market Analysis by Geography, By Technology and By Location (Onshore and Offshore), Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 127 | Published By - Mordor Intelligence

Report Highlights

Global Enhanced Oil Recovery Market is expected to increase at a CAGR of 20.4 percent from 2014 to 2022.

Enhanced Oil Recovery (EOR), sometimes called tertiary recovery, is implemented to increase the output of an Oil field. Using EOR more than half of the oil can be extracted from reservoir, in some cases. Primary techniques employed in EOR are: thermal injection, gas injection, chemical injection and microbial injection. Thermal injection occupies more than half share in overall EOR market.

The major trends driving the Enhanced Oil Recovery market are increasing demand for crude oil, higher recovery rates and ageing oil reserves. North America is the leading market for Enhanced Oil Recovery with USA being major market in the region because of increasing demand for oil. European market is expected to see a rapid growth rate; technology-wise, chemical injection has higher growth rate.

While rapid technological developments, increasing demand for oil and gas and higher recovery rates are driving the market, On the other hand, factors like environmental concerns â€" like brine contamination â€" and falling crude oil prices are strangling it.

This report extensively analyzes the Enhanced Oil Recovery market by segmenting it based on geography (North America, Middle East and Africa, Europe, Asia and South and Central America), by technology (thermal, gas, chemical and microbial), and by location of deployment (onshore and offshore). Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on competitive landscape and key market players.  
 

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