1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Oil and Gas
  5. > Oil
  6. > Oil Extraction Market Trends
Enhanced Oil Recovery: Technologies and Global Markets

Enhanced Oil Recovery: Technologies and Global Markets

  • September 2018
  • 221 pages
  • ID: 236239
  • Format: PDF
  • BCC Research

Summary

Table of Contents

Report Scope
The scope of this investigation includes all of the major viable EOR technologies that are currently being implemented in the global oil industry.Besides hydrofracturing, tight sands or tight oil extraction are categorized as Improved Oil Recovery (IOR), of which EOR is a subset, EOR was originally developed as a means to extract additional oil from reservoirs after primary and secondary recovery methods ceased to be productive enough to maintain economical field operation.

In some cases, the EOR technologies considered in this report may also be applied immediately after the initial well drilling. These applications are common for fields where primary and secondary recovery technologies are incapable of producing adequate oil in any phase of an oilfield operation.

The installation and operation of EOR technologies can include various products and components such as injection pumps, wellheads, specialized well tubing, chemical feeder systems, air separation units, gas compressors, blowers, steam generators, specialized storage vessels, gas recapture and separation systems, and various other equipment and facilities.Other important products of EOR technology include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen and CO2.

Although steam and onsite-compressed atmospheric nitrogen are also important oil recovery media, they are not considered EOR technology products within this report because they are available at minimal or no direct cost, unlike CO2 or specialized injection chemicals, which must be supplied to an EOR operation.

The market analysis provided in this report presents region-specific and country-specific market valuation data for each of the EOR technologies considered in this study. These include breakdowns for the following categories:
- Steam Flooding.
- In Situ Combustion.
- Chemical Flooding.
- Hydrocarbon Gas Flooding.
- Nitrogen Flooding.
- Carbon Dioxide Flooding.

Estimated values in each of these categories are based on manufacturers’ total revenues. Projected and forecasted revenue values are in constant US dollars (2017), unadjusted for inflation.

Emerging EOR technologies that may become commercially viable within the next five years are summarized, for example Solar EOR, but are not included in the market assessment of this report. We analyzes each major viable EOR technology, determines its current market status, examines its impact on future markets and presents forecasts of growth over the next five years.

We analyzes the industry on a worldwide basis in terms of its manufacturing and the deployment of its technologies or products.We also examines government roles in support of EOR technologies worldwide, including regulatory support, government requirements and promotional incentives for various EOR technologies as relevant and available.

We provides a review of the most relevant EOR technologies, discusses recent trends in capacity installation and unit sales, and provides industry overviews and market assessments for each EOR technology.

Report Includes
- 28 data tables and 81 additional tables
- An overview of the global market for enhanced oil recovery (EOR) technologies that are deployed for increasing productivity in the oil fields
- Analyses of global market trends with data from 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Segmentation of the EOR technologies’ market by categories including steam flooding, in-situ combustion, chemical flooding, hydrocarbon gas flooding, nitrogen gas flooding and carbon dioxide flooding
- Marketing assessment of EOR technologies as essential tools with an ability to reduce a country’s or a region’s dependence on oil imports, thereby help achieving greater energy independence and security
- Coverage of the all viable EOR technologies along with their installation and operation including various products and components such as injection pumps, wellheads, specialized well tubing, chemical feeder systems, air separation units, gas compressors, blowers, steam generators, specialized storage vessels, gas recapture and separation systems, and various other equipment and facilities
- Discussion of the most recent government, industry, and academic data regarding the amount of oil in place that potentially can be extracted via EOR
- Information on governments’ roles in support of EOR technologies worldwide, including regulatory support, government requirements, and promotional incentives for various EOR technologies as relevant and available
- Company profiles of the major players of the market, including AkzoNobel, BASF, Dow Chemical Co., Hayward Gordon, Praxair, Rolls-Royce, and TIW Corp.

Summary
Enhanced oil recovery (EOR) has been overshadowed by unconventional extraction techniques such as horizontal drilling and hydro fracture, but nonetheless remains a significant toolset in the portfolio of available extraction technologies. These technologies support continued growth in oil production across the world, even where hydro fracture is not applied, and where aging oil fields grow increasingly depleted.

Global EOR deployment has reduced in the wake of low oil prices in 2015 and further dropped to the lowest in 2016, resulting in a significant decrease in global oil extraction and production activities from the major Oil and Gas companies in private and public sectors.This unanticipated drop in crude oil prices had slowed EOR developments in comparison to prior development rates and projections.

Nonetheless, EOR technologies in most areas globally continue to grow since 2017, and some specific technologies are flourishing and gaining popularity, especially carbon dioxide flooding with highest adoption rates.The EOR technologies vary considerably, however, from country to country, where a specific EOR technology may be highly viable and developing rapidly in one country or region, but stagnant or even declining in another due to the availability of investments, raw materials, technologies and the geographic location.

Variability is driven by differences in formation characteristics as well as regulatory and economic variability, which have in some places coalesced to support strong markets. In other areas, while actions by the Organization of Petroleum Exporting Countries (OPEC) have helped to stabilize oil prices, lower oil prices still represent critical factors, and can substantially dampen select categories of new EOR deployment across the world.

The Oil & Gas industry growth since 2017 had highlighted several key features to the world market for EOR technologies.First, EOR is no longer being sustained by persistently high oil prices, meaning that EOR providers must increase their efficiency to stay profitable; this has caused troubled roads for more costly efforts such as steam assisted gravity drainage (SAGD) in their effort to remain viable.

Second, while the recent blossoming of unconventional oil production, especially in the United States, has caused an oil price drop, lower oil prices have in some regions led to the reinstatement of tax exemptions and other incentives, which tend to support EOR development.Third, EOR markets are beginning to gain traction even with major several major oil-producing nations that have historically relied only on primary and secondary extraction.

Finally, with respect to concerns over climate change and greenhouse gas emissions, the advancement of carbon dioxide based EOR is linking GHG emissions reduction to oil production, opening the door for increased deployment of EOR in countries with concerns over their GHG emissions.

The tables and figures below provide a summary of the global market for EOR technologies, broken down by region.North America maintains by far the largest regional market for EOR technologies.

The North American market will advance from REDACTED in 2017 to REDACTED in 2023, at a compound annual growth rate (CAGR) of REDACTED.Asia-Pacific markets are estimated to invest on chemical flood EOR in the forecast duration, rather than CO2.

Asia-Pacific region markets will increase from REDACTED to REDACTED, for a CAGR of REDACTED during that period.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2018

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on