Enhanced Oil Recovery: Technologies and Global Markets

Published - Jun 2017| Analyst - Robert Eckard| Code - EGY071C
Enhanced Oil Recovery: Technologies and Global Markets
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Report Highlights

The global enhanced oil recovery (EOR) market totaled nearly $22.9 billion in 2016 and should total $30.4 billion by 2021, with a five-year compound annual growth rate (CAGR) of 5.9% through 2021.

Report Includes

  • An overview of the global market for enhanced oil recovery (EOR) technologies that are implemented to recover crude oil from reservoirs after primary and secondary recovery methods have ceased to be productive enough to continue normal field operations economically.
  • Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021.
  • Identification of the various EOR products and components, such as injection pumps, wellheads, specialized well tubing, chemical feeder systems, air separation units, gas compressors, blowers, steam generators, specialized storage vessels, and various other equipment and facilities; other important products include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen, and CO2.
  • Discussion of the most recent government, industry, and academic data regarding the amount of oil in place that potentially can be extracted via EOR.
  • Examination of governments' roles in support of EOR technologies worldwide, including regulatory support, government requirements, and promotional incentives for various EOR technologies as relevant and available.

Report Scope

The scope of this investigation includes all of the major viable EOR technologies that are currently being implemented in the global oil industry. Separate from hydrofracture and tight sands or tight oil extraction are categorized as Improved Oil Recovery (IOR) of which EOR is a subset), EOR was originally developed as a means to extract additional oil from reservoirs after primary and secondary recovery methods ceased to be productive enough to maintain economic field operation. In some cases, the EOR technologies considered in this report may also be applied immediately following initial well drilling. These applications are common for fields where primary and secondary recovery technologies are incapable of producing adequate oil in any phase of an oil field operation.

Installation and operation of EOR technologies can include various products and components such as injection pumps, wellheads, specialized well tubing, chemical feeder systems, air separation units, gas compressors, blowers, steam generators, specialized storage vessels, gas recapture and separation systems, and various other equipment and facilities. Other important products of an EOR technology include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen and CO2. Although steam and onsite-compressed atmospheric nitrogen are also important oil recovery media, they are not considered EOR technology products within this report as they are supplied at minimal or no direct cost, unlike CO2 or specialized injection chemicals that are supplied to an EOR operation.

The market analysis provided in this report presents region-specific and country-specific market valuation data for each of the EOR technologies considered in this study. These include breakdowns for the following categories:

  • Steam Flooding.
  • In-Situ Combustion.
  • Chemical Flooding.
  • Hydrocarbon Gas Flooding.
  • Nitrogen Gas Flooding.
  • Carbon Dioxide Flooding.

Estimated values in each of these categories are based on manufacturers’ total revenues. Projected and forecasted revenue values are in constant US dollars (2017), unadjusted for inflation.

Emerging EOR technologies that may become commercially viable within the next five years are summarized but are not included in the market assessment of this report. BCC analyzes each major viable EOR technology, determines its current market status, examines its impact on future markets and presents forecasts of growth over the next five years. BCC analyzes the industry on a worldwide basis in terms of its manufacturing and the deployment of its technologies or products. BCC also examines government roles in support of EOR technologies worldwide, including regulatory support, government requirements and promotional incentives for various EOR technologies as relevant and available. BCC provides a review of the most relevant EOR technologies, discusses recent trends in capacity installation and unit sales and provides industry overviews and market assessments for each EOR technology.

Analyst Credentials

Robert Eckard has more than a decade of experience working in the energy and environmental industries. With a Ph.D. in water and energy resources from the University of California at Davis, Robert also runs a small industry research and technical consulting company, with an emphasis on the energy, water and environmental sectors. Robert has provided economic analysis market assessments, environmental analysis, and technical water and energy reports to state and local governments, other consultants and private companies and individuals throughout the U.S., as well as the Middle East, Southeast Asia and Australia. He has also worked as a subcontractor under the U.S. Department of Energy, providing analysis in support of fossil fuel extraction and refining of petroleum fuels, coal and natural gas. Previously, he has produced reports for BCC Research on the global markets for a variety of energy and water related industries including alternative natural gas extraction techniques, distributed power generation, energy efficient building technologies, recycled wastewater treatment, solar power generation and heating technologies.

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Published - Aug-2013| Analyst - Robert Eckard| Code - EGY071B

Report Highlights

The global enhanced oil recovery market totaled $21 billion in 2012 and is projected to increase to nearly $22.6 billion in 2013; the market should total $34.4 billion by 2018, with a five-year compound annual growth rate (CAGR) of 8.8% from 2013 to 2018.

Report Includes

  • An overview of the global market for enhanced oil recovery (EOR) technologies that are implemented to recover crude oil from reservoirs after primary and secondary recovery methods have ceased to be productive enough to continue normal field operation economically.
  • Analyses of global market trends, with data from 2010, 2011 and 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018.
  • Identification of the various EOR products and components, such as injection pumps, wellheads, specialized well tubing, chemical feeder systems, air separation units, gas compressors, blowers, steam generators, specialized storage vessels, and various other equipment and facilities; other important products include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen, and CO2.
  • Discussion of the most recent government, industry, and academic data regarding the amount of oil in place that potentially can be extracted via EOR.
  • Examination of government roles in support of EOR technologies worldwide, including regulatory support, government requirements, and promotional incentives for various EOR technologies as relevant and available.
Published - Jun-2010| Analyst - Robert Eckard| Code - EGY071A

Report Highlights

  • Tempered by the ongoing global economic recovery, between 2009 and 2014 the world market for enhanced oil recovery (EOR) technologies is expected to increase by a factor of 3.5, from $4.7 billion to $16.3 billion, a compound annual growth rate (CAGR) of 28.4%.
  • The most extensive growth, in terms of total dollars, will occur in the North American market. This region was valued at $3.3 billion in 2009 and is expected to increase at a compound annual growth rate (CAGR) of 26% to reach $10.3 billion in 2014.  
  • South America will experience the highest compound annual growth rate (CAGR) of 374%, increasing in value from $1 million in 2009 to $2.4 billion in 2014.
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