Enhanced Oil Recovery (EOR) Market to Reach $185 Million by 2025 - Widening Gap Between Production & Demand of Oil Globally - Research and Markets

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Dec 23, 2016, 07:10 ET

DUBLIN, Dec. 23, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Enhanced Oil Recovery (EOR) Market 2014 - 2025" report to their offering.

The global enhanced oil recovery (EOR) market size is expected to reach USD 185.22 million by 2025. The widening gap between the production and demand of oil globally is the major factor for the growth of enhanced oil recovery market. In addition, favorable government regulation and initiatives for developing a proper infrastructure and advanced technology for oil production is also expected to fuel the market.

Rising number of matured & aged wells especially in North America is driving the EOR market. The multinational companies are developing new and improved techniques to extract oil from these wells in a cost effective ways. Globally, thermal recovery is the most preferred technology for enhancing the oil extraction. Thermal recovery is done through steam & fire flooding and reserve heating. Heat or steam is introduced into the well to reduce the viscosity of the oil.

Chemical and gas injection are witnessing a remarkable growth. These technologies are expected to capture the market share of thermal recovery owing to various advantages. The application areas of enhanced oil recovery market are segmented into onshore and offshore. The offshore area is expected to grow at a significant rate. Various companies are trying to develop technologies to overcome the major challenges faced in offshore EOR. Some of the challenges faced by offshore EOR are reservoir characterization, limited platform space, transportation, storage and availability of EOR injections, large well spacing, high operating and capital cost.

Companies Mentioned:

ExxonMobil Corporation
BP p.l.c.
China Petroleum & Chemical Corporation
Royal Dutch Shell plc
Chevron Phillips Chemical Company LP
Petroliam Nasional Berhad (Petronas)
Nalco Company
Statoil ASA
Lukoil Oil Company
Praxair Technology, Inc
Praxair Technology, Inc
Petroleo Brasileiro S.A
Cenovus Energy Inc

Key Topics Covered:

1 Methodology and Scope

2 Executive Summary

3 Enhanced Oil Recovery Market Variables, Trends & Scope

4 Enhanced Oil Recovery (EOR) Market: Technology Estimates & Trend Analysis

5 Enhanced Oil Recovery (EOR) Market: Application Estimates & Trend Analysis

6 Enhanced Oil Recovery (EOR) Market: Regional Estimates & Trend Analysis

7 Competitive Landscape

8 Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/2djv88/enhanced_oil

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SOURCE Research and Markets