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Microbial Enhanced Oil Recovery Market Revenue Opportunies By Key Vendors - National Energy Services Reunited Corp., Micro-Bac International Inc., RAM Biochemical, Inc., Titan Oil Recovery, Inc., Chemiphase Ltd., ConocoPhillips Company, and Microbial Ener
Microbial Enhanced Oil Recovery
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The microbial enhanced oil recovery market is expected to gain significant traction, owing to rising R&D activities and deployment of projects on microbial enhanced oil recovery, globally. For instance, in 2018, ConocoPhillips along with its partners BP, Chevron, and Shell, deployed offshore Clair Ridge enhanced oil recovery project based on the principle of low salinity water injection.
Asia Pacific is anticipated to witness lucrative growth during the forecast period, owing to the rising imports of crude oil by the emerging economies such as India and China in order to meet the rising demand for crude oil. Moreover, these two economies are highly energy deficient and are reliant on imports. The imports of crude oil are majorly from Middle Eastern and African regions. Currently, Middle East caters to around 50% of China’s imports in 2016. The scenario is expected to sustain, as China struggles to diversify its imports.
Key players operating in the global microbial enhanced oil recovery market include National Energy Services Reunited Corp., Micro-Bac International Inc., RAM Biochemical, Inc., Titan Oil Recovery, Inc., Chemiphase Ltd., ConocoPhillips Company, and Microbial Energy Inc.
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