Industry updates - Global enhanced oil recovery market
Global EOR Industry Outlook to 2018 – EOR Applications in Mature Oil Reserves to Drive the Industry Growth’ provides a comprehensive analysis of the EOR industry in the world covering various aspects such as market size on the basis of EOR Market Value, Oil Production from EOR and Oil Volume Potential for EOR, market segmentation by oil volume potential by regions, expected trends in the future and future projections of the Global EOR industry with key growth drivers and challenges impacting the industry. The report also provides detailed explanation of the various macro variables and industry factors impacting the growth of Global EOR industry.
The market for Global EOR industry is driven majorly by crude oil consumption which in turn depends on the oil production from proved oil reserves and the recovery rate. These recoverable oil volumes depend on the applications of EOR methods such as Thermal EOR, Gas EOR and Chemical EOR. The oil production from EOR in 2012 was ~ and showcased a CAGR of 36.6% during 2008-2013. In Asia Pacific and Europe and Eurasia region, the petroleum resources had R/P ratios of ~ years and ~ years, respectively in 2013 which signifies the importance of further oil exploration into greater depths and mature reservoirs. In 2009, the global EOR oil production across the world was led by the US which had ~% share of total ~ billion barrels of oil production from EOR. In 2013, the Middle East region had ~ billion tons of potential oil volume available to be recovered from EOR methods.
The major characteristics of Global EOR industry solely depends on the portfolio of mature oil reservoirs and unconventional petroleum reserves existing in important potential regions and the respective investments into the establishments of EOR projects. As of 2013, on the basis of EOR activities, Chevron, Husky Energy, Lukoil, BP and Petronas hold a major share among major EOR activities worldwide.
The outlook for Global EOR industry is expected
The market for Global EOR industry is driven majorly by crude oil consumption which in turn depends on the oil production from proved oil reserves and the recovery rate. These recoverable oil volumes depend on the applications of EOR methods such as Thermal EOR, Gas EOR and Chemical EOR. The oil production from EOR in 2012 was ~ and showcased a CAGR of 36.6% during 2008-2013. In Asia Pacific and Europe and Eurasia region, the petroleum resources had R/P ratios of ~ years and ~ years, respectively in 2013 which signifies the importance of further oil exploration into greater depths and mature reservoirs. In 2009, the global EOR oil production across the world was led by the US which had ~% share of total ~ billion barrels of oil production from EOR. In 2013, the Middle East region had ~ billion tons of potential oil volume available to be recovered from EOR methods.
The major characteristics of Global EOR industry solely depends on the portfolio of mature oil reservoirs and unconventional petroleum reserves existing in important potential regions and the respective investments into the establishments of EOR projects. As of 2013, on the basis of EOR activities, Chevron, Husky Energy, Lukoil, BP and Petronas hold a major share among major EOR activities worldwide.
The outlook for Global EOR industry is expected