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Enhanced Oil Recovery (EOR) Market Share 2021 Global Opportunities, Trends, Regional Overview, Global Leading Company Analysis, And Key Country Forecast to 2021
Posted on May 5 2021 9:00 AM
"Enhanced Oil Recovery (EOR) Market Research Report study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market with Forecast Period 2021-2023.
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Global Enhanced Oil Recovery (EOR) Market Research Report study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds impact on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.Enhanced Oil Recovery (EOR) Market Research Report is highly research-intensive, powered by high R & D investment, and it possesses a strong product analysis to maintain growth and ensure long-term revenue generation.
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Enhanced Oil Recovery (EOR) Market report offers a comprehensive view regarding the competitive landscape of the Enhanced Oil Recovery (EOR) market and includes a deep description of performance by some of the key global players completing in the market. It offers a list of latest updates of several business strategies including mergers, acquisitions, partnerships, product launch, expansion of production units, and collaborations adopted by these major global players. The report provides a clear picture regarding R & D investment from key players and adoption of innovative technologies to widen their consumer base and expand the existing competitive position. Moreover, the report offers a detailed information about the position, scope of growth, and opportunities of new entrants or players in the market.
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The International Energy Agency (IEA) predicts that the demand for energy will increase by 1.4% per year, till 2040, with oil & natural gas contributing to approximately half the need. However, the global average field recovery from water flooding is currently around 35%, leaving between 60 to 70% of oil in place. The employment of enhanced oil recovery (EOR) techniques is expected to increase significantly across the globe, during the forecast period, to maximize ultimate economic recovery from existing oil and gas fields. Furthermore, increasing numeral of mature oil wells, and encouraging government regulation and programs in countries, such as India, is expected to supplement the growth of the market further. However, environmental issues, such as brine contamination and the prolonged ‘lower for longer oil’ condition of crude oil, may restraint the growth of the market during the forecast period.
Maturing Oilfields - Fueling the Demand
Maximizing recovery of oil from aging resources is a primary concern for oil companies and authorities. Also, the rate of replacement of the produced reserves by discoveries has been declining steadily in the past decades. Therefore, the increase of the recovery factors from mature fields under primary and secondary production is expected to be critical to meet the growing global energy demand during the forecast period. The Southeast Asian region is witnessing a constant increase of mature fields. Countries across the globe, such as India, the US, the UK, Malaysia, are expected to extensively promote EOR friendly policy. Furthermore, in the current ‘lower for longer’ market scenario and market trend of developing more offshore development projects, the companies are expected to adopt a wait and watch strategy for announcing new E & P projects. This would further supplement the demand for EOR services from the maturing field, across the globe.
Gas Injection to Register High Demand in North America
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 2017, owing to Shale boom, the US 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 regional availability of vast resources of cheap sources of CO2 from natural sources and are readily available CO2 pipeline system is expected to supplement the further growth of 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.
India â€' Expected Dark Horse in the Market
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. In January 2018, Indian government proposed the draft policy for boosting oil and gas output through projects using EOR techniques, offering significant fiscal incentives, including 50% waiver of oil cess and reduced profit petroleum sharing for companies. 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.
Key Developments in the Market
January 2018: Pulse Oil announces 100% independent assessment of Bigoray EOR Project.
January 2018: Department of Energy to invest USD 30 million to boost unconventional recovery in the United States.
January 2018: ADNOC to expand CCUS portfolio to meet a six-fold increase in the utilization of CO2 for Enhanced Oil Recovery (EOR) projects.
October 2017: Chevron Sanctioned Stage 1 Captain Enhanced Oil Recovery Project.
Major Players: HALLIBURTON Co., PRAXAIR TECHNOLOGY Inc., ROYAL DUTCH SHELL PLC, STATOIL ASA, BP PLC, CHINA PETROLEUM & CHEMICAL CORPORATION, OIL AND NATURAL GAS CORPORATION Ltd, CHEVRON PHILIPS CHEMICAL COMPANY, SCHLUMBERGER Ltd, EXXONMOBIL CORPORATION, CONOCOPHILLIPS, PETROLEO BRASILEIRO SA, LUKOIL OIL Co.
REASONS TO PURCHASE THIS REPORT
Identify the drivers, restraints, and opportunity possessed by the global enhanced oil recovery (EOR) market with in-depth analysis.
Analyze the various perspectives of the global market dynamics with the help of Porter’s five forces analysis.
Identify the most dominating type of technology and location with forecasted market estimate for the market.
Identify the largest, fastest growing, and significant regions during the forecast period with in-depth analysis.
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
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Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Enhanced Oil Recovery (EOR) Market for 2021-2023. To calculate the market size, the report considers new installations or sales and subscription payments of Enhanced Oil Recovery (EOR).
Regional Market Analysis:
The Enhanced Oil Recovery (EOR) Market report includes Global & Regional market status and outlook 2021-2023. Further, the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Global Enhanced Oil Recovery (EOR) Market 2021-2023, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Market Trend
- Growing research activities coupled with new product launches.
- For a full, detailed list, view our report
Market Driver
- High Opportunity in the Industry
- For a full, detailed list, view our report
Market Challenge
- Complications associated with Enhanced Oil Recovery (EOR) procedures.
- For a full, detailed list, view our report
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Key Attentions of Enhanced Oil Recovery (EOR) Market Report:
- The report offers a comprehensive and broad perspective on the global Enhanced Oil Recovery (EOR) market.
- The market statistics represented in different Enhanced Oil Recovery (EOR) segments offers complete industry picture.
- Market growth drivers, challenges affecting the development of Enhanced Oil Recovery (EOR) are analyzed in detail.
- The report will help in the analysis of major competitive market scenario, market dynamics of Enhanced Oil Recovery (EOR).
- Major stakeholders, top companies Enhanced Oil Recovery (EOR), investment feasibility and new market entrants study is offered.
- Development scope of Enhanced Oil Recovery (EOR) in each market segment is covered in this report. The macro and micro-economic factors affecting the Enhanced Oil Recovery (EOR) market
- Advancement is elaborated in this report. The upstream and downstream components of Enhanced Oil Recovery (EOR) and a comprehensive value chain are explained.
Some Major Points from Toc :-
1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness Porter's Five Forces Analysis
3.2.5 Degree of Competition
3.3 Price Analysis
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By Product Type
5.2 By Application
5.3 By End-user Industry
6. Regional Market Analysis
6.1 Production Analysis
6.1.1 Australia
6.1.2 Bolivia
6.1.3 Brazil
6.1.4 Democratic Republic of Congo
6.1.5 Indonesia
6.1.6 Malaysia
6.1.7 Myanmar
6.1.8 Peru
6.1.9 Russia
6.1.10 Thailand
6.1.11 Vietnam
6.1.12 Others
6.2 Consumption Analysis (Market Size, Growth and Forecast)
6.2.1 Asia-Pacific
6.2.1.1 India
6.2.1.2 China
6.2.1.3 Japan
6.2.1.4 South Korea
6.2.1.5 Rest of Asia-Pacific
6.2.2 North America
6.2.2.1 United States
6.2.2.2 Canada
6.2.2.3 Mexico
6.2.2.4 Rest of North America
6.2.3 Europe
6.2.3.1 Germany
6.2.3.2 United Kingdom
6.2.3.3 France
6.2.3.4 Italy
6.2.3.5 Austria
6.2.3.6 Rest of Europe
6.2.4 South America
6.2.4.1 Brazil
6.2.4.2 Argentina
6.2.4.3 Rest of South America
6.2.5 Middle East & Africa
6.2.5.1 UAE
6.2.5.2 South Africa
6.2.5.3 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
10. Disclaimer
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