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North American Thermal Enhanced Oil Recovery Market 

  • February 2016
  • 43 pages
  • Frost & Sullivan
Report ID: 3621337


Table of Contents

North American Thermal Enhanced Oil Recovery Market : Substantial Investment in Oil Sands and Development in New Technology will Drive the Market

This research provides a detailed analysis of the North American thermal enhanced oil recovery market. The study covers an historical and a forecast of crude oil production using various thermal enhanced oil recovery methods in both the United States and Canada. The study only covers the steam injection method, steam-assisted gravity drainage method, and a few other methods such as solar enhanced oil recovery. A brief overview of the solar enhanced oil recovery method is included, which is one step towards a sustainable use of energy in this market. A detailed economic feasibility analysis for steam injection and in-situ combustion technique is an integral part of this report.

Key Findings

The North American thermal enhanced oil recovery (EOR) market is mainly driven by heavy oil production in California and oil sands extraction in Alberta, Canada.
- The North American thermal EOR market is expected to grow from Million barrels per day (mbpd) in 2012 to mbpd by 2022, at a CAGR of %.
- In terms of percentage, steam-assisted gravity drainage (SAGD) will be the highest contributor, followed by steam injection. Other thermal EOR methods will contribute the least because of their nascent developmental stage.
- Production from other thermal EOR methods is expected to increase marginally from barrels per day (bpd) in 2015 to bpd by 2022.
- While major projects in other EOR methods use older technologies or technologies related to those used in mainstream thermal EOR, projects such as solar EOR tend to be much smaller in scale.
- In the United States, California is the only state that contributes % of the thermal EOR, and is even greater in terms of production, accounting for % of the US market.
- Most thermal projects in California use the popular steam injection technique; however, despite using this technique, production has declined consistently since 1986.
The steam injection market is expected to show a low growth rate of %, and production is expected to increase by mbpd by 2022.
- Canada has invested more than $ Billion in oil sands in the past years. An estimated % of the remaining deep oil will be extracted using in-situ techniques such as SAGD and cyclic steam stimulation (CSS).
- The SAGD market is expected to show a high growth in production, at a CAGR of % from 2015 to 2022, with production increasing from mbpd in 2015 to mbpd by 2022.
- The economics of steam injection EOR mainly depend on the capital expenditure (CAPEX) and operational expenditure (OPEX) used to develop a project; however, other mandatory factors such as recycle costs, taxes, and royalties play a significant role in deciding the net margin.
- In steam injection EOR, injection fluid OPEX has the highest contribution of % in the total cost, whereas the CAPEX is only %.
- In the in-situ combustion technique, injection fluid OPEX and other OPEX together account to %, with only % CAPEX investments.
- Oil price is the most crucial deciding factor in determining the breakeven of a project and net margin. With a low oil price, the margin would shrink, and breakeven would be large.

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