openPR Logo
Press release

Enhanced Oil Recovery (EOR) Market 2020 Business Scenario- Baker Hughes Co., BP PLC, Chevron Corporation, Exxon Mobil Corporation, Halliburton Co

01-11-2021 09:55 AM CET | IT, New Media & Software

Press release from: Market Insights Reports

The global enhanced oil recovery market is expected to grow at a CAGR of more than 3.5% over the period of 2021-2027.

Factors such as increasing demand for oil and gas which is expected to increase by 1.4% per year, till 2040, as predicted by the International Energy Agency (IEA), the global average field recovery is expected to increase significantly during the forecast period to meet the demand and in turn driving the EOR market. Moreover, around 60% of the global oil and gas produce came from wells that were more than 20 years old, and around 81% of the global hydrocarbon liquid production sites witnessed a decline, which is expected to have a positive effect on the EOR market. However, the environmental concerns such as altering the reservoir paradigm along with high up-front capital requirements are restraining the growth of the market studied.

- Gas injection technique is expected to be the largest segment for EOR market during the forecast period, with CO2-injection increasing globally representing about 20% of total oil production from EOR in 2018 and also due to its positive impact on environmental issues.

- With new discoveries for reserves and increased investments in upstream activities globally, massive opportunity lies ahead for the market players.

- Asia-Pacific is expected to be fastest growing market, owing to the increased investments in upstream sector by several governments and aging oil and gas fields which demand enhanced oil recovery techniques.

Inquire here to avail discount on this report:

https://www.marketinsightsreports.com/reports/04061950144/enhanced-oil-recovery-eor-market-growth-trends-and-forecast-2020-2025/inquiry?Mode=21

The prominent players in the Global Enhanced Oil Recovery (EOR) market are:

Baker Hughes Co., BP PLC, Chevron Corporation, Exxon Mobil Corporation, Halliburton Co., Praxair Technology Inc., Royal Dutch Shell PLC, Schlumberger Ltd., Total SA, Weatherford International PLC

Market Segmentation by Region:

North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Europe, Germany, France, UK, Italy, Russia, Rest of Europe, Central & South America

Global Enhanced Oil Recovery (EOR) Market Overview

Gas Injection Technique to Dominate the Market

- Gas Injection offers advantages, such as reduction of oil viscosity and added pressure in the reservoir for oil production. With increasing focus on unconventional gas production across the globe, the demand for gas injection based EOR techniques is expected to increase during the forecast period.
- In September 2017, the government of the United States proposed a legislation to promote the carbon capture act. According to this act, the government is to promote a collaboration between the oil and gas industry and the power plants and industrial plant operators, for the carbon sequestration process; the oil and gas operators are expected to help the other industries in carbon sequestration, which can be used by the former for CO2 injection.
- In 2017, owing to Shale boom, the United States became a net exporter of natural gas and is expected to become a net oil exporter by 2027. Gas injection is expected to account for approximately 60% of EOR production in the United States, with growing emphasis on CO2 based EOR.
- The United States and Canada are expected to further ramp up production from their unconventional reserves during the forecast period, which would, in turn, supplement the demand for gas injection based EOR in North America. Hence, the CO2 injection segment is expected to maintain a significant share in the EOR market during the forecast period.

Browse Related Reports!!

https://www.marketinsightsreports.com/reports/10062331763/global-and-united-states-chemical-enhanced-oil-recovery-eor-market-size-status-and-forecast-2020-2026?Mode=21

https://www.marketinsightsreports.com/reports/09172301934/global-and-chemical-injection-enhanced-oil-recovery-market-size-status-and-forecast-2020-2026?Mode=21

Asia-Pacific to Dominate the Market

- Asia-Pacific, with its increasing demand for oil and gas from major countries such as China and India are propelling the need for EOR in their mature fields to sustain the oil and gas production targets, is anticipated to drive the demand for EOR services.
- In the Asia-Pacific region, there were approximately 30 EOR projects, of which approximately 58% were categorized under the chemical and CO2 miscible injection types, with China leading the chemical injection segment of the market studied.
- The producing oilfields of India are continually aging with average recovery factor remaining continuously below the global average. As a part of the broader 'Energy Security' program, the government has set a goal to reduce 10% of crude oil import by 2022, with EOR emerging as an answer for the same.
- State-run company - ONGC plans to invest INR 57,825 crore on 28 EOR projects, while Cairn India plans to spend INR 37,000 crore to ramp up production using EOR. Such similar investment by the oil and gas operators and the government is expected to significantly attract international EOR players to India, during the forecast period.

Browse the Full report description and TOC at:

https://www.marketinsightsreports.com/reports/04061950144/enhanced-oil-recovery-eor-market-growth-trends-and-forecast-2020-2025?Mode=21

Competitive Landscape

The enhanced oil recovery market is moderately fragmented. Some of the key players in the market are Halliburton Company, Baker Hughes Company, Total SA, Chevron Corporation and Schlumberger Limited.

Furthermore, Global Enhanced Oil Recovery (EOR) Market following points are involved along with a detailed study of each point: –

– Global Enhanced Oil Recovery (EOR) Market Overview, Drivers, Restraints and Opportunities, Segmentation overview

– Global Enhanced Oil Recovery (EOR) Market competition by Manufacturers (2020-2026)

– Production and Consumption by Regions

– Complete profiling and analysis of Manufacturers (2020-2026)

– Manufacturing cost analysis, Materials analysis, Region-wise manufacturing expenses

– Industrial Chain, Sourcing Strategy and Downstream Buyers

– Marketing Strategy Analysis, Distributors/Traders

– Global Enhanced Oil Recovery (EOR) Market Effect Factors Analysis (2020-2026)

– Global Enhanced Oil Recovery (EOR) Market Forecast (2020-2026)

– Global Enhanced Oil Recovery (EOR) Market Research Findings and Conclusion

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyses key emerging trends and their impact on present and future development.

All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

Contact US:

Irfan Tamboli (Head of Sales) – Market Insights Reports

Phone: + 1704 266 3234

Mob: +91-750-707-8687

sales@marketinsightsreports.com

irfan@marketinsightsreports.com

About US

MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Enhanced Oil Recovery (EOR) Market 2020 Business Scenario- Baker Hughes Co., BP PLC, Chevron Corporation, Exxon Mobil Corporation, Halliburton Co here

News-ID: 2222940 • Views:

More Releases from Market Insights Reports

Cold Chain Monitoring Market May See a Big Move | BlueAir, Denso, Eureka Forbes, Honeywell
Cold Chain Monitoring Market May See a Big Move | BlueAir, Denso, Eureka Forbes, …
Market Insights Reports published a new research publication on "Cold Chain Monitoring Market Insights, to 2032" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Cold Chain Monitoring market was mainly driven by the increasing R&D spending across the world. Some of the key players
Outbound Logistics Market Next Big Thing | Major Giants- Draexlmaier, Faurecia, Grupo Antolin
Outbound Logistics Market Next Big Thing | Major Giants- Draexlmaier, Faurecia, …
Market Insights Reports published a new research publication on "Outbound Logistics Market Insights, to 2032" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Outbound Logistics market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled in
Veterinary Telemedicine Market May See a Big Move | Nestle, Deuerer, The J.M. Smucker
Veterinary Telemedicine Market May See a Big Move | Nestle, Deuerer, The J.M. Sm …
Market Insights Reports published a new research publication on "Veterinary Telemedicine Market Insights, to 2032" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Veterinary Telemedicine market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled in
Precision Planting Market is Set to Fly High in Years to Come
Precision Planting Market is Set to Fly High in Years to Come
Market Insights Reports published a new research publication on "Precision Planting Market Insights, to 2032" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Precision Planting market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled in

All 5 Releases


More Releases for EOR

Hiring in Bangladesh: Laws, Culture & EOR Explained
Why Growing Businesses Are Hiring in Bangladesh to Build Compliant Global Teams As the world shifts towards borderless work and remote-first hiring, Bangladesh has emerged as a strategic hiring destination for growing businesses. From cost-effective talent to favorable time zones, companies are no longer just expanding - they're expanding smart. For startups and scaling businesses especially, Bangladesh offers a fresh opportunity to build remote teams without the cost and complexity of
Employer of Record (EOR) in Poland
Introduction to EOR in Poland Expanding your business internationally can be both a profitable and exciting venture, but it also presents its challenges. Navigating labor laws, managing payroll, and ensuring compliance in a new country like Poland requires significant expertise and resources. This is where Employer of Record (EOR) services can make a big difference. In this guide, we'll cover all the key aspects you need to know about using an Employer
Surfactant Eor Market Size to Hit $90.13 Million by 2028 | Surfactant Eor Indust …
According to our experience research team, Surfactant Eor Market was valued at USD 70.6 Million in 2021, and the global Surfactant Eor industry is projected to reach a value of USD 90.13 Million by 2028, at a CAGR of 3.1% during the forecast period 2022-2028 The report is focused on gaining various Surfactant Eor market trends, dynamics, growth drivers, opportunities, weaknesses, strengths, and threats restraining the market growth. Further, the global
CO2 EOR Market 2022 | Detailed Report
The CO2 EOR research report provides a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The data thus presented is reliable, comprehensive and the result of extensive research both primary and secondary. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. Moreover, the data underlines the primary and secondary drivers,
Surfactants for EOR Market
https://www.qandqmarketresearch.com/reports/7112443/surfactants-for-eor-market-38 Global Surfactants for EOR market size will increase to Million US$ by 2025, from Million US$ in 2017, at a CAGR of during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Surfactants for EOR. This report researches the worldwide Surfactants for EOR market size value, capacity, production and consumption in key
Surfactant EOR Market 2018 Global Size, Share Analysis by Top Key Players(Surfac …
The Research begins with the Overview of Global Surfactant EOR Market Analysing Industrial Chain, Sourcing Strategy and Downstream Buyers. The Research also provide Information about Manufacturers, Market Competition, Cost, and Market Effect Factors with Market Forecast (2018-2025). This enables the buyer of the report to gain a telescopic view of the competitive landscape and plan the strategies accordingly. This study categorizes the global Surfactant EOR breakdown data by manufacturers, region, type