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Global Enhanced Oil Recovery Market 2017-2021

Global Enhanced Oil Recovery Market 2017-2021

About Enhanced Oil Recovery

Enhanced oil recovery also known as tertiary recovery in oil production involves the use of various technologies to enhance oil production and restore formation pressure after the failure of primary and secondary recovery techniques. Enhanced oil recovery plays a significant role in improving oil production, especially in mature oil fields. Enhanced oil recovery (EOR) also known as tertiary recovery is a stage in oil production that involves the use of various technologies to enhance the production of oil after failure of recovery from primary and secondary recovery methods.

Technavio’s analysts forecast the global enhanced oil recovery market to grow at a CAGR of 10.85% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global enhanced oil recovery market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Enhanced Oil Recovery Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • BP
  • Chevron
  • Halliburton
  • Royal Dutch Shell
  • Schlumberger
Other prominent vendors
  • BlackPearl
  • Canadian Natural
  • Cenovus Energy
  • CNOOC
  • ConocoPhillips
  • Devon Energy
  • Exxon Mobil
  • Husky Energy
  • Kinder Morgan
  • LUKOIL
  • MEG Energy
  • NALCO
  • Murphy Oil
  • Occidental Petroleum
  • PetroChina
  • PETROBRAS
  • PETRONAS
  • Praxair Technology
  • REX ENERGY
  • Statoil
  • Wintershall
Market driver
  • Growth of unconventional sources of hydrocarbons.
  • For a full, detailed list, view our report
Market challenge
  • Uncertainties associated with low crude oil prices.
  • For a full, detailed list, view our report
Market trend
  • Development of polymer enhanced oil recovery technology.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Enhanced Oil Recovery Market 2017-2021

Technavio recognizes the following companies as the key players in the global enhanced oil recovery market: BP, Chevron, Halliburton, Royal Dutch Shell, and Schlumberger.

Other Prominent Vendors in the market are: BlackPearl, Canadian Natural, Cenovus Energy, CNOOC, ConocoPhillips, Devon Energy, Exxon Mobil, Husky Energy, Kinder Morgan, LUKOIL, MEG Energy, NALCO, Murphy Oil, Occidental Petroleum, PetroChina, PETROBRAS, PETRONAS, Praxair Technology, REX ENERGY, Statoil, and Wintershall.

Commenting on the report, an analyst from Technavio’s team said: “One trend in market is development of polymer enhanced oil recovery technology. One of the major challenges faced by EOR operations is the contamination of environment such as soil and water. One of the reasons for the contamination of environment is due to large quantities of brines and chemically complex produced water that result from EOR operations.”

According to the report, one driver in market is growth of unconventional sources of hydrocarbons. When we compare conventional hydrocarbons with unconventional hydrocarbons, one of the difference between the two is the timeframe in which the unconventional hydrocarbons lose the natural pressure of flow. This natural pressure of flow is lost quickly within one year of operations. Recovery techniques have to be applied for the extraction of these resources of unconventional hydrocarbons. As the future exploration and production of oil and gas will be increasing from unconventional hydrocarbon resources, it will lead to the growth of more EOR activities, thus leading to the growth of the global enhanced oil recovery market.

Further, the report states that one challenges in market is uncertainties associated with low crude oil prices. Crude oil is always an unstable commodity that is hard to predict. This is because of the complex value chain and supply chain involved in the oil and gas industry. The price of crude oil has seen several crests and troughs over the past decades. The rise and fall of crude prices have vaguely followed a trend over the past few years, which is now identified as the crude oil price cycle. However, the correct estimation of peaks that crude oil will rise or fall is yet to be seen. Crude oil prices reached historical highs in the follow-up to the global financial meltdown in 2009. After the meltdown, crude oil prices declined sharply, owing to the weak global economic factors. The recent decline in the crude oil prices, which saw the price fall from the highs of $100/barrel in mid-2014 to around $50/barrel in December 2016, only reinforces the volatility the crude oil market is subjected to.

Companies Mentioned

BP, Chevron, Halliburton, Royal Dutch Shell, Schlumberger, BlackPearl, Canadian Natural, Cenovus Energy, CNOOC, ConocoPhillips, Devon Energy, Exxon Mobil, Husky Energy, Kinder Morgan, LUKOIL, MEG Energy, NALCO, Murphy Oil, Occidental Petroleum, PetroChina, PETROBRAS, PETRONAS, Praxair Technology, REX ENERGY, Statoil, and Wintershall.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Commonly used EOR technologies
  • Market landscape
    • Market overview
      • Table Global enhanced oil recovery market
    • Market size and forecast
      • Table Global enhanced oil recovery market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Geographical segmentation
    • Global enhanced oil recovery market by geography
      • Table Global enhanced oil recovery market by geography 2016 and 2021 (%)
      • Table Global enhanced oil recovery market by geography 2016-2021 ($ billions)
  • Enhanced oil recovery market in the Americas
    • Table Enhanced oil recovery market in the Americas 2016-2021 ($ billions)
    • Enhanced oil recovery market in EMEA
      • Table Enhanced oil recovery market in EMEA 2016-2021 ($ billions)
    • Enhanced oil recovery market in APAC
      • Table Enhanced oil recovery market in APAC 2016-2021 ($ billions)
  • Market segmentation by technology
    • Global enhanced oil recovery market by technology
      • Table Global enhanced oil recovery market by technology 2016 and 2021 (%)
      • Table Global enhanced oil recovery market by technology 2016-2021 ($ billions)
    • Global enhanced oil recovery market by thermal injection technology
      • Table Global enhanced oil recovery market by thermal injection technology 2016-2021 ($ billions)
    • Global enhanced oil recovery market by gas injection technology
      • Table Global enhanced oil recovery market by gas injection technology 2016-2021 ($ billions)
    • Global enhanced oil recovery market by chemical injection technology
      • Table Global enhanced oil recovery market by chemical injection technology 2016-2021 ($ billions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table World energy consumption by source 2011-2040
    • Market challenges
      • Table Global crude oil price volatility over last decade 2007-2016 ($ per barrel)
      • Table Different costs involved in EOR operations
      • Table Stages of typical EOR implementation
  • Market trends
    • Development of polymer enhanced oil recovery technology
    • Use of CO2 for deepwater enhanced oil recovery operations
    • Increasing R&D investment
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
      • Table Other prominent vendors (indicative list)
  • Key vendor analysis
    • BP
      • Table BP: Key product offerings
    • Chevron
      • Table Chevron: Key product offerings
    • Halliburton
      • Table Halliburton: Key product offerings
    • Royal Dutch Shell
      • Table Royal Dutch Shell: Key product offerings
    • Schlumberger
      • Table Schlumberger: Key product offerings
  • Appendix
    • List of abbreviations
  • Explore Technavio

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