Enhanced oil recovery (EOR) method is a technology that involves extraction of crude oil from oil reservoirs that cannot be extracted through conventional technologies. It is also known as tertiary recovery method as it takes place after primary and secondary recoveries. Oil extracted through primary recovery accounts for 5% to 15%, while secondary recovery accounts for 20% to 60% of the total oil present in the reservoir. By using enhanced oil recovery technology, 35% to 75% oil can be extracted from the reservoir.
EOR technology uses methods such as thermal injection, gas injection and chemical injection to extract oil from the reserves. Thermal injection technology uses hot water and steam to extract crude oil from the reservoir. It is widely used to extract heavy viscous oil, that cannot flow on its own. Thermal injection technology reduces the viscosity by increasing temperature of the crude oil. Most commonly used thermal injection method are steam injection and In-situ combustion. Commonly used steam injection methods are steam assisted gravity drainage (SAGD), cyclic steam stimulation (CSS) and steam flooding. Steam injection method is mostly used on oil sands. Countries such as Canada, Indonesia and California are using steam injection on their oil fields. SAGD has application in heavy oil sands of Alberta region. Steam flooding method is used on light oil reservoirs. In-situ method is used for heavy oil sandstone reservoirs. Countries such as Romania and Canada, have some projects using In-situ combustion process. Thermal injection technology dominated the EOR market in the year 2012 but by 2023 its market share is expected to decrease. Major challenges faced by thermal injection technology is the lack of availability of low price natural gas. Gas required for steam generation can be used for other purposes such as power generation and transportation.
Gas injection technology is mostly used on light oil reservoirs. It is mainly used on sandstone field. Gas injection technology especially uses CO2. It is expected to increase for two reasons including disposal of green house gas and increase in crude oil recovery. CO2 released in the atmosphere through power generation and industrial sector, is used in gas injection technology to extract crude oil. Thus huge amount of CO2 is captured for EOR technologies which may pollute the environment. With more than 100 CO2 commercial EOR projects worldwide, most of them are concentrated in West Texas in U.S. Due to the availability of low cost CO2 from nearby fields and reservoirs CO2 EOR projects have gained popularity worldwide.
Chemical injection method uses polymer, surfactant solution and alkali to extract crude oil from the reservoirs. It can be applied on both carbonate and sandstone formations. Chemical injection technology can be combined with other EOR technologies to derive advantages of each other. Primary objective of chemical EOR process is to reduce ther interfacial tension between water and oil through the use of surfactants. Mobility of crude oil is controlled by adding polymers. Hydrolyzed polyacrylamide is the commonly used polymer in chemical EOR method. Major challenges faced by Chemical EOR process is the lack of availability of compatible chemicals in high saline and high temperature environment.
North America dominated the global EOR market in terms of volume as huge demand arises from U.S, Canada and Mexico. Europe is expected to be a booming market for EOR technology as number of upcoming projects are there in Russia. Rest of the World (RoW) is expected to show the highest growth rate as number of oil reserves exists in Middle East. Thus, in future Middle East is expected to be the most attractive market for EOR technology.
Anadarko Petroleum Corporation, BP Plc, Cenovus Energy Inc, Chevron Corporation, ConocoPhillips, ExxonMobil Corporation, OAO Lukoil, Petronas, Royal Dutch Shell Plc and Statoil ASA are expected to dominate the market for enhanced oil recovery technology.
The enhanced oil recovery market report by Transparency Market Research provides an in-depth analysis of the global enhanced oil recovery industry. The report segments the market on the basis of technology and region and also provides the forecasts and estimates for each technology. The report also analyses the demand and supply characteristics of the market by providing a detailed forecast and analysis of volume and revenue for the period 2013 to 2023.
Enhanced Oil Recovery method mainly uses three technologies including Thermal injection, Gas injection and Chemical injection.Thermal injection technology is mostly used for the extraction of heavy viscous crude oil. Thermal energy is injected into the reservoir for increasing the temperature and reducing the viscosity of crude oil. Steam injection and in-situ combustion are common using methods for thermal injection. Widely used steam injection methods are steam assisted gravity drainage (SAGD), cyclic steam stimulation (CSS) and steam flooding. Steam injection method is mostly used in oil sands with some ongoing projects in Canada, California and Indonesia. SAGD method is mostly used in heavy oil sands of Alberta region. Steam flooding method is used for light oil reservoirs that has a depth of less than 3,000 feet. In-situ method is mostly used on heavy oil sandstone reservoirs.
Countries such as Canada and Romania, have some ongoing projects using In-situ combustion process. The gas injection method is applicable for light oil reservoirs. It specially uses CO2 on carbonate and sandstone fields. Gas injection technology is expected to increase for two reasons including disposal of greenhouse gas and increase in oil recovery. Other gases such as hydrogen and nitrogen are also used for oil recovery but to a limited extent. The CO2. Chemical EOR method uses alkali, polymer and surfactant solutions to increase oil recoveries. Objective of chemical EOR method is to reduce the interfacial tension between water and oil through the use of surfactant solutions and to control the mobility by adding polymers. Commonly used polymer in chemical EOR method is Hydrolyzed polyacrylamide. Major chemical EOR projects are operational in countries such as India, Canada and Brazil. Thermal EOR is suitable for heavy oil extraction. Maximum oil reserves have heavy oil hence; thermal injection EOR technology dominates the global EOR market. However, with advancements in technology gas injection and chemical injection EOR technologies are rising at a remarkable rate. Gas injection technology serves a dual purpose: disposal of greenhouse gas and extraction of crude oil from the reservoirs. CO2 released into the atmosphere through power generation and industrial sector, is utilized in gas injection technology to extract crude oil. Thus the huge amount of CO2 is captured for EOR technologies which may pollute the environment. With the upcoming chemical EOR projects in countries, share of chemical EOR technology is going to increase in the coming years.
Asia Pacific, North America, Europe, and Rest of the World (RoW) are the major geographic areas covered in this report. Each geographical region has been segmented further on the basis of the technology, and volume forecasts and estimates for each segment have been provided for the period 2013 to 2023.
The report also provides a thorough analysis and revenue of companies such as Anadarko Petroleum Corporation, BP Plc, Cenovus Energy Inc, Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and Statoil ASA among others. The report also provides key players involved in SSG systems such as Hammon Deltak Inc, Nooter/Eriksen, Premier Energy Inc, Vogt Power and EN-FAB among others. The report provides a detailed analysis of the various factors influencing the enhanced oil recovery industry with the help of Porter’s five force analysis. The analysis also helps to understand the degree of competition in the market. The report also analyses the value chain and the various drivers and restraints of the enhanced oil recovery market.
Enhanced Oil Recovery Market: Technological Analysis
Enhanced Oil Recovery Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)