Global Enhanced Oil Recovery Market (EOR) was valued US$ 360 Bn in 2017 and is estimated to reach US$ 650 Mn by 2026 at a CAGR of about 26.43% during a forecast period.
EOR market denotes advanced technology used to extract crude oil that cannot be extracted through traditional technologies from oil reservoirs. EOR is also called as tertiary recovery process as it takes place after primary and secondary oil recoveries. EOR accounts for xx% to xx% of the total reservoir while secondary recovery can extract near about xx% to xx% of complete oil present in the reservoir. By mounting enhanced oil recovery technology, xx% to xx% oil can easily be extracted from the oil reservoir. The growing number of matured fields along with the rising need for crude to encounter the petroleum product demand will enrich the Enhanced Oil Recovery Market size. As per the Energy Information Administration, the consumption of petroleum and other liquids from the non- OECD (Organisation for Economic Co-operation and Development) region is expected to increase in terms of value from US$ xx Mn in 2018 to US$ xx Mn in forecast period 2026. Established fields accounted for over xx% of the total production, with several fields in the secondary or tertiary production stage. Capacity to increase the oil recovery factor of well from xx%-xx% to xx%-xx% will help in technology acceptance.
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The EOR market is segmented into technology, application, and region. By technology segment, EOR market has divided into gas, thermal, and chemical injection. In 2017, thermal injection technology segment accounted near about xx% share in Enhanced Oil Recovery Market. According to the report, thermal technology has reached maturity level, due to which it is expected to lose some of its share to other technologies. In 2017, the chemical injection technology held over xx% share in the enhanced oil recovery market and is projected to stand around xx% by 2026. As per the study, gas injection technology segment is expected to hold nearby xx% share in the global market.
Based on application, In 2017, the onshore area dominated the industry and held around 71% of the global share. The technology is mostly employed in the onshore segment. However, many offshore oil reserves are also discovered since past few decades. Major challenges faced by offshore technology include the weight, space limitations of existing offshore facilities.
In terms of region, North America region has projected around xx% share in Enhanced Oil Recovery Market. The extraordinary contribution from Canada, Mexico, and the U.S. increased the growth of Enhanced Oil Recovery Market in the North America region. In forecasted years, other regions held near about xx% share in the global market. This segment is expected to grow at a fast speed in upcoming years, showing a continuous growth rate.
The leading key player operating in the enhanced oil recovery market are ExxonMobil Corporation, BP plc., China Petroleum & Chemical Corporation, Royal Dutch Shell plc, Chevron Phillips Chemical Company LP., Lukoil Oil Company, Praxair Technology, Inc., Chevron Corporation, Petroleo Brasileiro S.A., Cenovus Energy Inc.
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The scope of the Global Enhanced Oil Recovery Market Report:
Global Enhanced Oil Recovery Market By Technology
• Thermal
• Gas
• Chemical
• Other
Global Enhanced Oil Recovery Market By Application
• Onshore
• Offshore
Global Enhanced Oil Recovery Market By Region
• North-America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players in the Global Enhanced Oil Recovery Market
• Cenovus Energy Inc.
• ExxonMobil Corporation
• Petronas
• Statoil ASA
• BP Plc
• ConocoPhillips
• Chevron Corporation
• Anadarko Petroleum Corporation
• Royal Dutch Shell Plc.
• Nalco Company
• Praxair Technology, Inc.
• China Petroleum & Chemical Corporation
• Lukoil Oil Company
MAJOR TOC OF THE REPORT
Chapter One: Enhanced Oil Recovery Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Enhanced Oil Recovery Market Competition, by Players
Chapter Four: Global Enhanced Oil Recovery Market Size by Regions
Chapter Five: North America Enhanced Oil Recovery Revenue by Countries
Chapter Six: Europe Enhanced Oil Recovery Revenue by Countries
Chapter Seven: Asia-Pacific Enhanced Oil Recovery Revenue by Countries
Chapter Eight: South America Enhanced Oil Recovery Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Enhanced Oil Recovery by Countries
Chapter Ten: Global Enhanced Oil Recovery Market Segment by Type
Chapter Eleven: Global Enhanced Oil Recovery Market Segment by Application
Chapter Twelve: Global Enhanced Oil Recovery Market Size Forecast (2019-2026)
Browse Table of Contents with Facts and Figures of Enhanced Oil Recovery Market Report at: https://www.maximizemarketresearch.com/market-report/enhanced-oil-recovery-market/11401/
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