Press release
Microbial Enhanced Oil Recovery Global Market Manufacturers and Forecast Report to 2023 | Synthetic Genomics , Titan Oil Recovery , and BP , National Oilwell Varco, Inc. , Halliburton
Titan Oil Recovery, Inc. developed The Titan Process is a new direction in enhanced oil recovery technology. It is a breakthrough in low cost, no capital required oil recovery. It is organic oil recovery offering oil operators an advanced, state-of-the-art secondary and tertiary oil recovery technology. Combining petroleum engineering and breakthrough biotechnology, the Titan Process produces more oil, lowers lifting cost and allows the optimization of a field’s potential. The Titan Process provides field operators with an improved return-on-expenditure and an opportunity to certify additional reserves as a result of expanded field treatments. About 65% of the world’s oil is trapped in the existing oil fields. The Titan Process with their micro-droplet technology can recover a substantial amount of the world’s trapped oil.
The global microbial enhanced oil recovery market is expected to expand at ~20% CAGR during the forecast period.
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Global Market Top Key Players:-
• BP
• National Oilwell Varco, Inc.
• Halliburton
• Wintershall
• Genome Prairie
• Glori Energy Inc.
• RAM Biochemicals
• Weatherford International
• Occidental petroleum
• Synthetic Genomics
• Titan Oil Recovery
Global Microbial Enhanced Oil Recovery Market Segmentation:-
On the basis of application, market is further segmented as Interfacial tension reduction, Emulsification and De-emulsification, Selective plugging, Wettability Alteration, Gas Production, and Bio Degradation. Amongst these applications, interfacial tension reduction segment is the major market share holder. Oil and water have high inter facial tension which can be reduced with help of the microbes. This drives the market for interfacial tension reduction segment. Also the microbes can replicate in high temperature of oil well which helps in viscosity reduction of oil. Based on well types, the microbial enhanced oil recovery market is categorized as onshore and offshore wells.
Industry News:-
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 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.
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Global Microbial Enhanced Oil Recovery Market Analysis:-
Global Microbial enhanced recovery market is expected to witness exponential growth during the forecast period due to high number of mature wells, rising demand for oil, and increasing expenditure on research and tests by upstream players. North America and Europe region are expected to dominate the market share of the microbial enhanced oil recovery. The oil fields in these regions have reached their peak life and require tertiary methods to recover the untapped oil in the rocks. According to Titan, a major oil company, the microbial EOR technique has potential to increase the success rate of the oil well by 84%. U.S. has been conducting various research and trails projects in the oil fields to find the success rate of implementing the MEOR technique. Asia Pacific and the Middle East region is likely to follow the market share owing to increasing demand for fuel from the growing nations. China and India are net largest importers of crude oil in the world.
Major Points From Table Of Content:-
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Microbial Enhanced Oil Recovery Market, By Injection Type
5 Global Microbial Enhanced Oil Recovery Market, By Application
6 Global Microbial Enhanced Oil Recovery Market, By Well Type
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7 Regional Market Analysis
7.1 Introduction
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.3 Europe
7.3.1 U.K.
7.3.2 France
7.3.3 Germany
7.3.4 Rest Of Europe
7.4 Asia-Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest Of Asia-Pacific
7.5 Rest Of The World
To be Continued.......
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