Microbial Enhanced Oil Recovery Market is Expected to Expand at ~20% CAGR | Industry Top key Players: RAM Biochemicals, Weatherford International , Occidental petroleum, Synthetic Genomics , Titan Oil Recovery

Microbial Enhanced Oil Recovery Market Overview:-

Microbial Enhanced Oil Recovery (MEOR) is the process of employing microorganisms and their metabolites to recover the residual oil from of the oil reservoir. The process is typically carried out either by injecting micro-organisms into the reservoir, or an existing population of microorganism in the reservoir can be enriched by the injection of nutrients preferred by that microorganism. Globally, there are many ageing oil and gas infrastructure wells in which residual oil remains to be extracted. Conventional methods used to recover oil from reservoirs leave the majority of oil in place. MEOR operations are employed for their low economic cost, enhanced recovery and less impact on the environment when compared with the conventional methods. They are also used on both onshore and offshore oil recovery along with applications such as corrosion control and prevention of well sourcing.

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Microbial Enhanced Oil Recovery Industry Top Key Players:-

• RAM Biochemicals
• Weatherford International
• Occidental petroleum
• Synthetic Genomics
• Titan Oil Recovery
• National Oilwell Varco, Inc.
• Halliburton
• Wintershall
• Genome Prairie
• Glori Energy Inc.
• Chemiphase

Industry News:-

In November, 2017 – Genome Canada announced five new projects that will receive funding under the Genome Canada and Social Science and Humanities Research Council (SSHRC) Joint Initiative on Societal Implications of Genomics Research. The overall objective of the Genome Canada-SSHRC joint initiative is to support social sciences and humanities research and related activities that will enrich our understanding of the societal implications of genomic research.

In March, 2017 – E I Du Pont De Nemours and Company Issued Patent for Controlling Bioavailability of Nutrient Additions in Subsurface Formations for Microbial Enhanced Oil Recovery (MEOR).

In July, 2015 – Statoil planned to extend the life of its prolific Norne field in the Norwegian Sea to 2030. Statoil was able to maximise recovery rates from the Norne field using microbial enhanced oil recovery (MEOR) and is thought to be the only company in the world to employ MEOR on an offshore field.

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Microbial Enhanced Oil Recovery Market Analysis:-

Microbial enhanced oil recovery market is driven by the facts such as increasing number of mature wells globally, rising demand for cleaner sources for extracting oil, and recovering prices of crude oil. North America and Europe have largest number of mature wells and the largest number of oil companies. This leads to increasing deployment of microbial enhanced oil recovery technique in the oil fields. Besides there are strict regulations against the use of chemicals in the oil fields for recovery of oil as they pose threat to the land ecosystem. This leads the rising market for microbial enhanced oil recovery. Recent researches suggests that at least 50% of oil rigs in North America especially in U.S. and Canada are suitable for microbial enhanced oil recovery. However, its poor performance of technique against the peer chemical techniques is restraining the market.

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