Enhanced Oil Recovery 2018 Market Size Analysis, Scope, Stake, Progress | Industry In-depth Study with Key Players, Trends and Forecast to 2023

Market Overview:-

Enhanced oil recovery methods refer to the method of recovering more oil from existing oil wells. The global oil industry is witnessing one of the major slowdowns in recent times as the oil prices dropped to historic low in 2015. One of the main reasons for the drop in prices was the reduced demand for oil in the U.S. and China due to shale oil boom. However, the ripple effect caused by the drop in oil prices severely affected the upstream industry as the majority of the operators had to scale down their production. This has led them to stop new production activities and depend on existing well for oil production for their operations. Besides, most of the oil wells around the world are already nearing their operational lifetime and oil production from these wells are constantly declining. To enhance the oil production from existing wells, oil field upstream operators are investing in enhanced oil recovery methods, which are expected to increase the oil production from existing wells.

Industry Top Key Players:-
• FMC Technologies, Inc.
• Chevron Phillips Chemical Corporation
• Schlumberger Ltd.
• Praxair Technology, Inc.
• PJSC Lukoil Oil Company
• Royal Dutch Shell Plc
• Halliburton Corporation, Basf SE
• Baker Hughes
• Statoil ASA, BP Plc.
• Exxon Mobil

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Scope of the Report:-

This report provides an in-depth analysis of the global enhanced oil Recovery market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia Pacific (APAC), Middle East, Africa and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Enhanced Oil Recovery market by its technology type, application type, and by region.

By Technology Type
• Thermal
o Steam Injection
o In-Situ Combustion
o Hot water
• Chemical
o Polymer
o Alkaline
o Surfactant
o Others
• Microbial
o Cyclic Injection
o Microbial Flooding
o Feeding Existing Bacteria
o Others

By Application Type
• Onshore
• Offshore

By Regions
• North America
• Asia Pacific
• Middle East and Africa
• Europe
• Rest of the World

Market Segmentation:-

On the basis of technology, the enhanced oil recovery market is segmented as thermal, chemical, microbial, and others. The thermal and chemical methods are more established procedures with several practical projects being already carried out. The chemical methods traditionally use polymer, alkaline, and surfactant methods to extract more oil from existing wells.

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Market Research Analysis:-

North America and Europe regions are expected to command a major market share
By US EIA s, the U.S. is dominating the market for enhanced oil recovery processes. The country has several support legislatures and policies that support the use of enhanced oil recovery methods. Several oilfields in the Gulf of Mexico are rapidly reaching their operational lifetime and, thus, enhanced oil recovery methods are being implemented widely. Similarly, the European region is witnessing an increased implementation of oil recovery process due to rapidly maturing fields in the North Sea region. In the Middle East and Asia Pacific, onshore wells are undergoing an increased implementation of oil recovery processes. Developing countries, such as India, Indonesia, and Malaysia, are expected to contribute to the growth of the market in the coming years.

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