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Microbial EOR (Microbial Enhanced Oil Recovery) Market: Set to Encounter Paramount Growth Till 2025

03-05-2019 06:33 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Researchmoz Pvt. Ltd.

Microbial EOR (Microbial Enhanced Oil Recovery) Market: Set

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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Aging Oil and Gas Infrastructure, Rise in offshore drilling activities, demand for alternative technologies, Economic & Environmental Factors, CO2 Reducing Emission Policies & Rise in Demand for Fuel, are key factors to drive Microbial Enhanced Oil Recovery Market. Additionally, 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. Asia Pacific is projected to lead to its tremendous growth in the next few years. Several oil companies across Malaysia, China, and India are implementing the technology to enhance their output using low-cost solutions.

The Microbial EOR (Microbial Enhanced Oil Recovery) market was valued at xx Million US$ in 2018 and is projected to reach xx Million US$ by 2025, at a CAGR of xx% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Microbial EOR (Microbial Enhanced Oil Recovery).

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This report presents the worldwide Microbial EOR (Microbial Enhanced Oil Recovery) market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

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