According to BCC Research, enhanced oil recovery technologies currently support about 5% of global oil production and are an increasingly important foundation for continued global oil industry development. Along with advanced extraction technologies such as hydrofracture, EOR technologies are becoming increasingly significant to global oil production because their application increase or revive oil recovery at reserves or oilfields depleted of more easily recoverable oil.
BCC Research provides a comprehensive analysis of the global market for EOR technologies through its report, Enhanced Oil Recovery: Technologies and Global Markets. As per the report, the global EOR technology market was valued at $21 billion in 2012 and is estimated at $22.6 billion in 2013. BCC Research projects the market to reach $34.4 billion in 2018, and register a five-year compound annual growth rate of 8.8% for the period 2013 to 2018.
Use this report to:
- Gain an overview of the global market for enhanced oil recovery (EOR) technologies that are implemented to recover crude oil from reservoirs after primary and secondary recovery methods have ceased to be productive.
- Analyze the global market trends, with data from 2010, 2011 and 2012, estimates for 2013, and projections of CAGRs through 2018.
- Identify the various EOR products and components, such as injection pumps, wellheads, specialized well tubing, chemical feeder systems, air separation units, gas compressors, blowers, steam generators, specialized storage vessels, and various other equipment and facilities.
- Discuss the most recent government, industry, and academic data regarding the amount of oil that can be potentially extracted via EOR.
- Examine the role of government in support of EOR technologies worldwide, including regulatory support, government requirements, and promotional incentives for various EOR technologies.
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