LONDON, April 19, 2016 /PRNewswire/ -- Executive Summary
The global Enhanced Oil Recovery (EOR) Market in Oil and Gas Industry has been growing at a high rate in terms of volume, on account of the shale revolution in North America. Decline in exploration and production, coupled with increase in extracting oil from old reservoirs in productive manner across the globe has been the major driver for the EOR method market. However, the decline in crude oil prices has resulted in some of the major oil and gas projects to delay and thus resulting in the decline in the CAGR of EOR market in terms of value during 2011-15.
During 2016-21, Global EOR market in oilfield is anticipated to grow at a CAGR of 8.11%. Moreover, a decrease in crude oil prices will induce more pressure on the economies to exercise traditional and conventional well practises and will result in increase in EOR operations in the coming years.
According to Azoth Analytics research report, "Global EOR Market: Trends, Opportunities and Forecasts (2016-2021) – By Type- Thermal Energy and Non Thermal Method such as Gas Injection and Chemical Injection; By Location of Application- Offshore & Onshore; By Region- N. America, S. America, Middle-East & Africa, Europe and APAC", global EOR market is projected to exhibit a positive growth during 2016 – 2021 at a CAGR of 8.11 % in terms of volume wherein market in Middle East, Africa, Asia Pacific is anticipated to rise. On the basis of type of EOR method, market is segmented By Type (Thermal Energy and Non Thermal Method such as Gas Injection and Chemical Injection), By Location of Application (Offshore & Onshore) and By Geography (North America, South America, Middle East and Africa, Europe and APAC).
Few of the leading companies operating in Global EOR Market includes Schlumberger, Halliburton Co., Baker Hughes Inc., BP, Royal Dutch Shell, Lukoil.
Historic market trend has been figured out by various paid databases which was further triangulated with inputs and insights from industry experts, companies and stakeholders, through primary research (R&D Specialist, distributors, manufacturers, marketing managers, others). Future estimation of the market has been made through insights from industry experts, past trends, business strategies of the companies operating in the market and back of the envelope calculation.
Scope of the Report
The report provides Segmentation by Type
- Thermal Methods
- Non-Thermal Methods - Gas Injection and Chemical Injection
The report provides Segmentation by Location of Application
The report provides Segmentation by Region
- North America
- South America
- Middle East and Africa
The report provides Segmentation by Country
- United States
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