Press release
Market Insight : Enhanced Oil Recovery Market Globally Grow at a CAGR of 16.93% by Revenue During the Forecast Period 2016-2019
About enhanced oil recoveryEnhanced oil recovery (EOR) is also known as tertiary recovery. It uses various technologies to enhance the production of oil after the recovery from primary and secondary recovery methods and to improve the hydrocarbon mobility within a reservoir and restore the formation pressure. EOR plays a significant role in improving oil production, especially in case of mature oilfields. The primary recovery methods can produce around 10% of the reservoir's initial oil-in-place while the secondary methods have an oil recovery factor of 20-50%. EOR can extract 30-60% of the oil-in-place.
Technavio’s analysts forecast the global EOR market to grow at a CAGR of 16.93% during 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the global EOR market for the period 2015-2019.
Technavio's report, Global EOR Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends emerging in the market. The report includes a discussion of the key vendors operating in this market.
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Key vendors
ExxonMobil
Royal Dutch Shell
Chevron
BP
Total
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