DUBLIN, April 24, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Enhanced Oil Recovery Market, 2012-2022" report to their offering.
The global market of enhanced oil recovery is anticipated to cross $11.50 Billion by 2022. On the basis of type, global enhanced oil recovery market has been broadly segmented into thermal, miscible gas, chemical & others.
The process of extracting the remaining oil from the field by tertiary methods is known as Enhanced Oil Recovery (EOR). Oil recovery from primary and secondary methods cumulatively amounts to 30% to 40% of total oil in reserve, remaining oil gets trapped between the rocks because of pressure reduction, which is extracted by using EOR methods. Global enhanced oil recovery market is directly being governed by macroeconomic factors such as GDP, industrial growth, slow economic growth/recession, crude oil prices, etc.
Other major factors influencing the growth of global enhanced oil recovery market are maturing oilfield, upcoming/ongoing EOR projects, year on year change in energy consumption pattern and anticipated change in oil demand until 2022. Moreover, increasing global energy demand and high productivity levels achievable by using EOR techniques are expected to positively influence global enhanced oil recovery market over the next five years.
Among these categories, thermal-based EOR methods dominated global enhanced oil recovery market in 2016, and the segment is expected to maintain its dominance over the next five years as well, as they are cost effective and have maximum success rate. North America is the largest consumer of enhanced oil recovery methods across the globe. Oil production in North America is expected to grow at a robust pace during 2017-2022 due to shale gas revolution.
- Abu Dhabi National Oil Corporation
- BP p.l.c
- Baker Hughes Inc.
- Chevron Corporation
- China National Offshore Oil Corporation
- China Petroleum & Chemical Corporation
- ConocoPhillips Company
- Eni SpA
- Exxon Mobil Corporation
- Linde AG
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Analyst View
4. Enhance Oil Recovery Economic Model
5. Global Enhanced Oil Recovery Market Outlook
6. Global Thermal EOR Market Outlook
7. Global Miscible Gas EOR Market Outlook
8. Global Chemical EOR Market Outlook
9. North America Enhanced Oil Recovery Market Outlook
10. Middle East & Africa Enhanced Oil Recovery Market Outlook
11. Europe Enhanced Oil Recovery Market Outlook
12. South America Enhanced Oil Recovery Market Outlook
13. Asia-Pacific Enhanced Oil Recovery Market Outlook
14. Market Dynamics
15. Market Trends & Developments
16. Competitive Landscape
17. Strategic Recommendations
For more information about this report visit http://www.researchandmarkets.com/research/mrcs2n/global_enhanced
Laura Wood, Senior Manager
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/enhanced-oil-recovery-market-to-cross-1150-billion-by-2022---driven-by-maturing-oilfields-upcomingongoing-eor-projects--year-on-year-changes-in-energy-consumption-patterns---research-and-markets-300444080.html
SOURCE Research and Markets