The majority of enhanced oil recovery (EOR) projects are being executed in the US , Canada, Venezuela, Indonesia and China. The volume produced by EOR methods increased considerably from 1.2 MMBD in 1990 to 2.5 MMBD in 2006 (Sandrea and Sandrea 2007). Current total world oil production from EOR is approaching 3 MMBD representing about 3.5 % of the daily global oil production (Sandrea and Sandrea 2007).
Thermal and CO2 methods are the major contributors to EOR production followed by hydrocarbon gas injection and chemical EOR. Other more esoteric methods e.g. microbial have only field tested without any significant quantities being produced on a commercial scale. In recent years the number of EOR project has increased with escalating oil prices.
Read more details Society of Petroleum Engineer Paper.
The Enhanced Oil Recovery (EOR) Technologies Market 2011-2021 assesses this vital and growing industry which is central to the future of global oil output. The report focuses on the developments in the industry, with analysis of all major EOR projects in 20 leading countries with analysis and forecasts underpinned by consultation with expert opinion from Oil Chem Technologies and other leading companies. Vision gain’s research evaluates the level of capital expenditure in the EOR Technologies market will be worth $20.9bn in 2011.
The report forecasts the current spending and growth rates across the leading 20 national markets. The forecasts are underpinned by interviews with industry experts, evaluation of contractual data, analysis of market potential, oil output, economic growth and historic oil reserves.
The limited supply of oil worldwide, coupled with growing demand, will make the EOR technologies market essential in future. The financial recession caused investment into EOR to slow between 2007 and 2009. However, the economic recovery will result in both higher investment and a growing demand for energy. The report analyses a wealth of data to show where the market will develop based upon diverse factors and insight into the market, anticipating how and why the market will evolve from 2011 onwards.
The report considers the most significant technological development which will shape the industry over the next decade. Furthermore the report highlights the latest significant oil deposits, energy demand booms and economic developments. The most significant drivers and restraints of the market are considered in order to provide readers with specific insights into the trends within the industry.
In which countries will capital expenditure for EOR technologies be the greatest? Which countries represent the best investment opportunities? What are the possible niche markets developing in the sector? Will oil remain the dominant supply of energy in the long-term? How important is the CO2-EOR subsector? How will changes in the price of oil affect the market? Who are the major players in the EOR technologies market? These critical questions and many more are definitively answered in this comprehensive report.