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Microbial Enhanced Oil Recovery Market Size, Share, Development by 2023
Press release from: Market Research Report Store
New report published by Market Research Report Store (MRRS) which offers insights on the global Microbial Enhanced Oil Recovery market.
Microbial Enhanced Oil Recovery (MEOR) is a biological based technology consisting in manipulating function or structure, or both, of microbial environments existing in oil reservoirs. The ultimate aim of MEOR is to improve the recovery of oil entrapped in porous media while increasing economic profits. MEOR is a tertiary oil extraction technology allowing the partial recovery of the commonly residual two-thirds of oil, thus increasing the life of mature oil reservoirs.
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Global Microbial Enhanced Oil Recovery Market: Forecast by Type / Application / Region
Microbial Enhanced Oil Recovery is widely used in Onshore Oilfield, Offshore Oilfield. The most proportion of Microbial Enhanced Oil Recovery is Onshore Oilfield, and the proportion in 2017 is 83.40%. The trend of dental Onshore Oilfield is increasing.
North America is the largest production region for Microbial Enhanced Oil Recovery, with a market share nearly 29% in 2016. Following North America, Europe is the second largest production region with market share of 24%.
Market is still at very beginning, StatOil, Titan oil recovery, Royal Dutch Shell, BP, ConocoPhillips and DuPont the leaders of the industry, with high-end customers in the industry.
Over the next five years, LPI(LP Information) projects that Microbial Enhanced Oil Recovery will register a 12.0% CAGR in terms of revenue, reach US$ 910 million by 2023, from US$ 520 million in 2017.
Global Microbial Enhanced Oil Recovery Market: Key Players
Titan Oil Recovery
Royal Dutch Shell
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United States Microbial Enhanced Oil Recovery Market Research Report 2018
Europe Microbial Enhanced Oil Recovery Market Research Report 2018
North America Microbial Enhanced Oil Recovery Market Research Report 2018
Asia-Pacific Microbial Enhanced Oil Recovery Market Research Report 2018
China Microbial Enhanced Oil Recovery Market Research Report 2018
EMEA Microbial Enhanced Oil Recovery Market Research Report 2018
Global Microbial Enhanced Oil Recovery Market Research Report 2018
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