Global Enhanced Oil Recovery (EOR) Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Published - May 2019 | Category - Energy and Power | No. of Pages - 142 | Published By - EMR


The Global Enhanced Oil Recovery (EOR) Market is expected to witness a CAGR of 4.59% and is projected to reach USD 84.45 Million by 2024.

EOR is a tertiary method used to further increase oil production. EOR effectively restores formation pressure and helps in movement of oil to the production well. EOR process can be carried out by three methods; thermal recovery, gas injection and chemical injection. Thermal recovery held the largest market share in 2017; however, CO2 gas injection method has captured the interest of major oil companies in the recent years. Low cost, abundance of CO2, and the environmental benefit of geologically storing this gas have assisted in the growth of this market.

Global Enhanced Oil Recovery (EOR) Market Major Key Players:
Exxon Mobil
Chevron Phillips Chemical Company
Royal Dutch Shell
BP
Cenovus Energy Inc.
Statoil ASA
LUKOIL
Petroleo Brasileiro S.A.
China Petroleum & Chemical Corporation
Others


 

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