Published on : Oct 23, 2019
The total amount of oil produced across the globe is evaluated to be only one third of the total oil that is available. Enhanced Oil Recovery (EOR) techniques are used to increase this amount of oil production by recovering oil from hydrocarbon reservoirs. These techniques are applied in mature and depleted reservoirs to improve efficiency of oil fields in oil production.
Rapid urbanization results in increased energy consumption. Mature and maturing oil fields are actively used for oil production on daily basis. The amount of oil produced is insufficient to suffice the growing energy requirement. EOR technology gains from this situation and increases the oil production. Global Enhanced Oil Recovery market has witnessed growth on the pretext of solving issues related to global energy supply. Sandstone reservoirs are eyed as the potential target for EOR application as the pilot stages of EOR have been tested on similar lithology. EOR approach consists of thermal and chemical methods that are widely practiced whereas gas injection method is comparatively less preferred.
An intelligence report titled, “Global Enhanced oil Recovery (EOR) Market: World Market Review By Method (Thermal Gas Injection, Chemical), Application (Offshore, Onshore), By Region, By Country (2019 Edition): Forecast to 2024 – By Region (America, Europe, APAC, MEA), By Country (US, Canada, Mexico, brazil, Russia, China, Indonesia, Qatar, Kuwait, Algeria, Nigeria)” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository
C5+ liquid used in steam injection
Thermal method includes cyclic steam injection, steam assisted gravity drainage and steam flooding. Tests and attempts are being conducted to optimize steam injection process by using different ingredients that include solvents, foams and gases. Liquid Addition to Steam for Enhancing recovery (LASER) process uses C5+ liquid in cyclic steam injection process as steam additive. Steam Assisted Gravity drainage (SAGD) method is applied in unconsolidated reservoirs that contain high vertical permeability. SAGD benefits heavy and extra-heavy oil resources and its application is anticipated to expand depending on the oil prices.
Chemical EOR methods consists of polymer flooding which is known as a mature technology as it has the potential to increase oil production in mature basins. Colloidal Dispersion Gels is polymer based technology under evaluation. Chemical EOR comprises of technologies that differ from technical point of view but have common goal: to improve volumetric sweep efficiency in reservoirs.
Global Enhanced Oil Recovery market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Global Enhanced Oil Recovery market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Global Enhanced Oil Recovery market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on Enhanced Oil Recovery.
An insightful and deep-dive assessment of the competitive assessment of the Global Enhanced Oil Recovery market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Global Enhanced Oil Recovery market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Global Enhanced Oil Recovery market: Research Methodology
Primary sources and secondary sources propel intelligence report on Global Enhanced Oil Recovery market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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