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Enhanced Oil Recovery, 2nd Edition

Enhanced oil recovery (EOR), also referred to as improved oil recovery or tertiary oil recovery, is most often achieved by injecting a liquid or gas into an oil reservoir, thereby lowering oil viscosity and increasing the amount of oil available for production. Some of the more common EOR methods include gas EOR (mostly CO-2 EOR), thermal EOR and chemical EOR. Microbial EOR and seismic EOR also hold small, but strong niches in the EOR market. While only about 10% - 30% of oil is typically extracted from a well by conventional oil production processes, EOR methods can enhance these recovery rates by an additional 5% to 20% (on a conservative average).

The global market for EOR, estimated at more than $126.02 billion in 2011, has shown exciting growth since 2007, when the market totaled $54.96 billion. Technological challenges, hazy regulations, and high implementation costs have often been inhibitory to EOR projects, although this is quickly changing. Government interest and generous investments are helping to spur new developments in technology and also to increase the availability of necessary materials (such as CO-2). SBI Energy expects the EOR industry will continue to flourish in light of these types of developments and that many individuals involved in the EOR business will enjoy exponential growth in the near future.

A large number of oil fields around the globe are maturing and are producing less oil - those affected are looking to EOR to increase, or at least maintain, their oil production levels. Many countries rely heavily on oil production for their financial health, and are becoming increasingly willing to invest in EOR, especially as the group of successful EOR projects grows and as the high price of oil continues to support research and development schemes.

Around the world, the EOR market is growing and metamorphosing to fit the various regions in which it resides. EOR market growth depends largely on regional factors, such as the health of the local economy; the level of foreign investment; existing politics and policies that may hinder or spur market growth; available technological knowledge and expertise; the type of oil being produced, the geographical location of oil fields and the geology of oil reservoirs; as well as regional oil supply and oil demand. A plethora of technologies and processes are emerging and becoming available that are fulfilling these regional niches and easing EOR production for many oil operators.

Many regions are jumping, or at least easing, into the world of EOR. The Middle East previously did not have much of a need for EOR; oil was plentiful and lower oil prices did not encourage seemingly un-needed experimentation. This is quickly changing; however. Many oil fields in the Middle East are maturing and are producing less oil; other fields in the region are nearing their peak oil production limits and their operators are proactively looking to EOR to maintain steady production in the future. SBI Energy considers the Middle East will whole heartedly be immersing itself in the EOR scene by 2021, with the United Arab Emirates, Kuwait, Saudi Arabia, Iran and Oman leading the way.

The Global Market for Enhanced Oil Recovery, 2nd Edition contains comprehensive historical data (2007-2011) and forecast data (2012-2021) for the enhanced oil recovery (EOR) market. Data, in terms of value (dollars) and volume (barrels) are provided for various methods of EOR, including thermal EOR, gas EOR and chemical EOR. Historical and forecast data are also provided for the oil industry as a whole. Market share between the top dozen countries is discussed and is also broken down by value and volume for each individual country.

This report identifies key trends and factors (such as the regulatory scene, new technologies, economic drivers, challenges and environmental concerns) affecting the size and direction of market growth; discusses employment opportunities in the industry; provides a broad overview of regional involvement in the EOR market; reports on some of the more current or innovative technological advancements and schemes; and contains 15 profiles of major - or simply interesting - companies involved in the EOR market.

How You Will Benefit from This Report

The Global Market for Enhanced Oil Recovery, 2nd Edition details significant trends, numbers, and technologies for a clear overview of the complex EOR market.

This report will help:

  • Managers identify market opportunities and develop implementation plans for EOR projects.
  • Research and development professionals stay on top of competitor initiatives and explore the ups and downs associated with EOR projects.
  • Advertising agencies working with clients in the oil and energy industries to help design appropriate messages and images for the EOR market.
  • Business development executives understand the dynamics of the market and identify possible partnerships.
  • Information and research center librarians access vital information.
  • Policy makers and government officials understand the dynamics and scope of the market they are working to affect.
  • Investors and stakeholders gain a well-rounded view of the EOR market, including its strengths, weaknesses and likely future direction.

Table of Contents

Chapter 1: Executive Summary

  • Report Scope
  • Report Methodology
  • Introduction
  • Thermal Recovery
  • Gas/CO-2 EOR
  • Chemical Injection
  • ‘Other' Methods
  • Market Size and Growth
  • EOR Value Worldwide Exceeds $126 Billion in 2011
    • Figure 1-1. Total EOR Market Production Value Worldwide In Million Dollars
    • Figure 1-2. Total EOR Production Volume Worldwide In Million Barrels (2007 - 2011)
  • EOR Market Value Projected to catapult into 2021
    • Figure 1-3. Projected EOR Production Value Worldwide In Million Dollars (2011 - 2021)
    • Figure 1-4. Projected EOR Volume Worldwide In Barrels (2011 - 2021)
  • Gas/CO2 Injection EOR Holds its Own in EOR Market
    • Figure 1-5. Worldwide Gas/CO-2 EOR Production Value In Million Dollars (2007 - 2011)
    • Figure 1-6. Worldwide Gas/CO-2 EOR Production Volume In Million Barrels (2007 - 2011)
  • Gas/CO2 EOR Segment Nears 7.6 Billion Barrels in 2021
    • Figure 1-7. Worldwide Gas/CO-2 EOR Production Value Projections, In Million Dollars (2011 - 2021)
    • Figure 1-8. Worldwide Gas/CO-2 EOR Production Volume Projections, In Million Barrels (2011 - 2021)
  • China Dominates EOR
    • Figure 1-9. China's EOR Market In Million Dollars (2007-2021)
    • Figure 1-10. China's EOR Market In Million Barrels (2007-2021)
  • United States Holds its Own in EOR World
    • Figure 1-11. United States' EOR Market In Million Dollars (2007-2021)
  • Around the World
  • EOR around the World
  • North America
  • Factors in Market Size and Growth
  • Many Factors Affect Market Size and Growth
  • Global and Regional Economies Impact EOR Market Growth
  • EOR Market Guided by Sporadic Price of Oil
  • EOR Market Affects Global and National Economies
  • Potential for CO-2 EOR Sequestration Questionable
  • Technological Innovations and Schemes
  • EOR Industry Inundated with New Technologies
  • Solar Power Joins Forces with EOR
  • Acoustic Enhanced Oil Recovery Stimulates Production
  • Employment Opportunities
  • Wide Range of Jobs in EOR Market
  • 423,000 Employed in EOR Market in 2011
    • Figure 1-12. Number of Employees in EOR Market (2007-2011)

Chapter 2: Introduction

  • Report Scope
  • Report Methodology
  • Data for Regional EOR Involvement by Method Elusive
  • Oil 101
  • Phases of Oil Production
  • Primary Recovery
  • Secondary Recovery
  • Tertiary Recovery, Also Known As Enhanced Oil Recovery
  • Methods of Enhanced Oil Recovery
  • Thermal Recovery
  • Gas/CO-2 EOR
  • Chemical Injection
  • ‘Other' Methods
  • The History of EOR

Chapter 3: Market Size and Growth

  • Total Oil Production Value Exceeded $2.6 Trillion in 2011
    • Figure 3-1. Total Value of Oil Production Worldwide In Trillion Dollars (2007 - 2011)
    • Figure 3-2. Total Volume of Oil Production Worldwide In Billion Barrels (2007 - 2011)
  • EOR Value Worldwide Exceeds $126 Billion in 2011
    • Figure 3-3. Total EOR Market Production Value Worldwide In Million Dollars
    • Figure 3-4. Total EOR Production Volume Worldwide In Million Barrels (2007 - 2011)
  • EOR Share of Total Oil Market Approximately 4.8% in 2011
    • Figure 3-5. EOR % Share of Total Oil Market In Dollar Value (2007)
    • Figure 3-6. EOR % Share of Total Oil Market In Dollar Value (2011)
  • Total Oil Production Value Projected to Continue Small Climb
    • Figure 3-7. Projected Total Oil Production Value Worldwide In Trillion Dollars (2011 - 2021)
    • Figure 3-8. Projected Total Oil Production Volume Worldwide In Barrels (2011 - 2021)
  • EOR Market Value Projected to catapult into 2021
    • Figure 3-9. Projected EOR Production Value Worldwide In Million Dollars (2011 - 2021)
    • Figure 3-10. Projected EOR Volume Worldwide In Barrels (2011 - 2021)
  • EOR Share of Total Oil Market Experiences Large Jump in 2021
    • Figure 3-11. EOR % Share of Total Oil Market In Dollar Value (2015)
    • Figure 3-12. EOR % Share of Total Oil Market In Dollar Value (2021)
  • Projected EOR Value in Three Oil Price Scenarios
    • Figure 3-13. Projected EOR Value, Based on Oil Price per Barrel Three
  • Oil Price Scenarios (2011 - 2021)
    • Table 3-1. Projected EOR Market Production Value, Based on Oil Price
  • per Barrel Three Scenarios (2011 - 2021)
  • Thermal EOR Exceeds $30.2 Million in Production Value in 2011
    • Figure 3-14. Worldwide Thermal EOR Production Value In Million Dollars (2007 - 2011)
    • Figure 3-15. Worldwide Thermal EOR Production Volume In Million Barrels (2007 - 2011)
  • Gas/CO2 Injection EOR Holds its Own in EOR Market
    • Figure 3-16. Worldwide Gas/CO-2 EOR Production Value In Million Dollars (2007 - 2011)
    • Figure 3-17. Worldwide Gas/CO-2 EOR Production Volume In Million Barrels (2007 - 2011)
  • Chemical Injection Valued at $27.7 Billion in 2011
    • Figure 3-18. Worldwide Chemical EOR Production Value In Million Dollars (2007 - 2011)
    • Figure 3-19. Worldwide Chemical EOR Production Volume In Million Barrels (2007 - 2011)
  • ‘Other' EOR Methods Complete Market Pie
    • Figure 3-20. Worldwide ‘Other' EOR Production Value In Million Dollars (2007 - 2011)
    • Figure 3-21. Worldwide ‘Other' EOR Production Volume In Million Barrels (2007 - 2011)
  • Thermal EOR Dominates Share of EOR Methods in 2021
    • Figure 3-22. Worldwide Thermal EOR Production Value Projections, In Million Dollars (2011 - 2021)
    • Figure 3-23. Worldwide Thermal EOR Production Volume Projections, In Million Barrels (2011 - 2021)
  • Gas/CO2 EOR Segment Nears 7.6 Billion Barrels in 2021
    • Figure 3-24. Worldwide Gas/CO-2 EOR Production Value Projections, In Million Dollars (2011 - 2021)
    • Figure 3-25. Worldwide Gas/CO-2 EOR Production Volume Projections, In Million Barrels (2011 - 2021)
  • Chemical EOR Tallies in at Nearly 3.4 Billion Barrels in 2021
    • Figure 3-26. Worldwide Chemical EOR Production Value Projections, In Million Dollars (2011 - 2021)
    • Figure 3-27. Worldwide Chemical EOR Production Volume Projections, In Million Barrels (2011 - 2021)
  • ‘Other' EOR Responsible for Almost 2.2 Billion Barrels in 2021
    • Figure 3-28. Worldwide Thermal EOR Production Value Projections, In Million Dollars (2011 - 2021)
    • Figure 3-29. Worldwide ‘Other' EOR Production Volume Projections, In Million Barrels (2011 - 2021)
  • Three Main EOR Methods Hold Majority Share of Market
    • Figure 3-30. Worldwide EOR Market Value, % Share, by Method (2007)
    • Figure 3-31. Worldwide EOR Market Value, % Share, by Method (2011)
    • Figure 3-32. Worldwide EOR Market Value, % Share, by Method (2015)
    • Figure 3-33. Worldwide EOR Market Value, % Share, by Method (2021)
  • EOR Industry Distributed Unevenly Around the Globe
    • Figure 3-34. EOR Production Worldwide, % Share By Country, 2007
    • Figure 3-35. EOR Production Worldwide, % Share By Country, 2012
    • Figure 3-36. EOR Production Worldwide, % Share By Country, 2021
  • China Dominates EOR
    • Figure 3-37. China's EOR Market In Million Dollars (2007-2021)
    • Figure 3-38. China's EOR Market In Million Barrels (2007-2021)
  • United States Holds its Own in EOR World
    • Figure 3-39. United States' EOR Market In Million Dollars (2007-2021)
    • Figure 3-40. United States' EOR Market In Million Barrels (2007-2021)
  • Canada Doesn't Hold Back With EOR Ventures
    • Figure 3-41. Canada's EOR Market In Million Dollars (2007-2021)
    • Figure 3-42. Canada's EOR Market In Million Barrels (2007-2021)
  • Russia Enjoys Participation in EOR Schemes
    • Figure 3-43. Russia's EOR Market In Million Dollars (2007-2021)
    • Figure 3-44. Russia's EOR Market In Million Barrels (2007-2021)
  • Kuwait Has Handle on EOR
    • Figure 3-45. Kuwait's EOR Market In Million Dollars (2007-2021)
    • Figure 3-46. Kuwait's EOR Market In Million Barrels (2007-2021)
  • Oman is No Slacker in EOR Industry
    • Figure 3-47. Oman's EOR Market In Million Dollars (2007-2021)
    • Figure 3-48. Oman's EOR Market In Million Barrels (2007-2021)
  • Norway Sees Light in EOR
    • Figure 3-49. Norway's EOR Market In Million Dollars (2007-2021)
    • Figure 3-50. Norway's EOR Market In Million Barrels (2007-2021)
  • Mexico Has Stake in EOR
    • Figure 3-51. Mexico's EOR Market In Million Dollars (2007-2021)
    • Figure 3-52. Mexico's EOR Market In Million Barrels (2007-2021)
  • United Arab Emirates Ups Its Stake in EOR
    • Figure 3-53. United Arab Emirates' EOR Market In Million Dollars (2007-2021)
    • Figure 3-54. United Arab Emirates' EOR Market In Million Barrels (2007-2021)
  • Iran Plays EOR Field
    • Figure 3-55. Iran's EOR Market In Million Dollars (2007-2021)
    • Figure 3-56. Iran's EOR Market In Million Barrels (2007-2021)
  • Nigeria Banks on EOR
    • Figure 3-57. Nigeria's EOR Market In Million Dollars (2007-2021)
    • Figure 3-58. Nigeria's EOR Market In Million Barrels (2007-2021)
  • India Wades through EOR
    • Figure 3-59. India's EOR Market In Million Dollars (2007-2021)
    • Figure 3-60. India's EOR Market In Million Barrels (2007-2021)
  • ‘Other' EOR Market No Ghost
    • Figure 3-61. ‘Other' EOR Market In Million Dollars (2007-2021)
    • Figure 3-62. ‘Other' EOR Market In Million Dollars (2007-2021)
  • Proven Oil Reserves Estimated at Nearly 1.5 Trillion Barrels
    • Figure 3-63. Potential EOR Recovery, Based on Proven Oil Reserves 2011-2021
  • Saudi Arabia, Venezuela and Canada Boast Largest Oil Reserves
    • Table 3-2. Potential EOR Production Based on Proven Oil Reserves Top
  • 20 Oil Producing Countries

Chapter 4: Around the World

  • EOR around the World
  • North America
  • EOR in North America
  • EOR Schemes in North America
  • Central and South America
  • EOR in Central and South America
  • EOR Schemes in Central and South America
  • Europe
  • EOR in Europe
  • EOR Schemes in Europe
  • Asia
  • EOR in Asia
  • EOR Schemes in Asia
  • The Middle East
  • EOR in the Middle East
  • EOR Schemes in the Middle East
  • Africa
  • EOR in Africa
  • EOR Schemes in Africa
  • Australia and the Oceania
  • EOR in Australia and the Oceania
  • EOR Schemes in Australia and the Oceania

Chapter 5: Factors in Market Size and Growth

  • Many Factors Affect Market Size and Growth
  • Market Variables
  • Global and Regional Economies Impact EOR Market Growth
  • EOR Market Guided by Sporadic Price of Oil
  • Peak Oil - Reality or Myth?
  • The Politics of Global Warming and EOR
  • Market Drivers
  • EOR Market Affects Global and National Economies
  • EOR Industry Sits Happily in Shadow of Giant Oil Market
  • Easy Oil Becoming Harder to Find
  • There is Still A Heck of A Lot of Oil Out There!
  • Increase in CO2 Pipelines Create Market Stability
  • Electric and Hybrid Cars May Not Be as Popular as Expected
  • Rise of BRICS Countries
  • Funding for EOR R&D Fueling Market Growth
  • Petroleum Products in High Demand
  • The Kyoto Protocol
  • United Nations Climate Change Conferences
  • OPEC Aims to Coordinate and Unify Policies among Countries
  • GHG Emissions Tackled through CO-2 EOR Schemes
  • Market Deterrents
  • Potential for CO-2 EOR Sequestration Questionable
  • Alternative Fuel Sources May Decrease Oil Demand.....Some Day
  • Not All EOR Methods Suitable for All Oil Fields
    • Figure 5-1. Share of Global Oil Reserves By Density
  • EOR Not as Viable for Small Producers
  • EOR Still a Young Market with Much to Learn
  • Spills Do Happen
  • Tighter Regulations Not Helpful to EOR Market
  • EOR Regulations Still in Early Stages of Development
  • CO2 Leakage May Compromise Integrity of EOR Projects
  • Environmentalists Hard Set against Oil Production
  • The Future of EOR Bright, with a Few Dark Spots

Chapter 6: Technological Innovations and Schemes

  • EOR Industry Inundated with New Technologies
  • EOR Methods
  • Thermal Recovery
  • Gas/CO-2 EOR
  • Chemical Injection
  • Microbial EOR
  • Seismic EOR
  • WAG and SWAG
  • Enyzme EOR
  • Innovative Projects & Technological Schemes
  • Solar Power Joins Forces with EOR
  • Acoustic Enhanced Oil Recovery Stimulates Production
  • Emerson's Wireless System for EOR Gets Smart
  • Wintershall's Biopolymer Schizophyllan - Simply Fungus
  • Carbon Disulphide Dips into EOR
  • Oman's MEOR Formula Increases Oil Production by 23%
  • Ridgeline's Modular ‘STCI' for Use in Polymer Flooding
  • Maersk's TriGen Power Generation Useful in EOR
  • Chevron Develops Computer Monitoring System for EOR
  • Enhanced Bitumen Recovery Using High Permeability Pathways
  • Optimal's E2EORR Ideal for High Salinity, Heavy Oil Production
  • Paradigm Oil & Gas' Transportable EOR Platform
  • Dow Earns Patent for Surfactant Injection System
  • Fluid Dynamics"! Creates Polymer Blending System
  • Electric EOR Saves Electricity!
  • Nikron's Super Hot Steam Injection Heats up Market
  • VeruTEKR's EOR Product Line Biodegradable
  • NiMin's CMD Technology Recovers Up to 60%
  • Saudi Aramco Creates Microscopic Robots for EOR Monitoring

Chapter 7: Employment Opportunities

  • Wide Range of Jobs in EOR Market
  • Increase in EOR Schemes Incites Job Growth
  • Many Experience Requirements and Salary Levels in EOR
  • 423,000 Employed in EOR Market in 2011
    • Figure 7-1. Number of Employees in EOR Market (2007-2011)
  • About 1,786,827 Employed in EOR Market in 2021
    • Figure 7-2. Projected Number of Employees in EOR Market (2011-2021)
  • Job Openings Found on Employment Websites
  • Job Openings Found on Company Websites
  • Scholarships and Training

Chapter 8: Company Profiles

  • EOR Mostly Majors; Smaller Companies Easing In
  • Company Profiles
  • Cairn Energy Plc.
    • Table 8-1. Cairn Energy Plc. Profile
  • Corporate Overview
  • Financial Performance
  • Cairn Uses EOR in Rajasthan Bloc
  • Chevron Corp.
    • Table 8-2. Chevron Corp. Profile
  • Corporate Overview
  • Financial Performance
  • EOR Ventures
  • China Oilfield Technology Services Group, Ltd.
    • Table 8-3. China Oilfield Technology Services Group, Ltd. Profile
  • Corporate Overview & EOR Involvement
  • Financial Performance
  • Denbury Resources, Inc.
    • Table 8-4. Denbury Resources, Inc. Profile
  • Corporate Overview
  • Financial Performance
  • EOR Ventures
  • Enhance Energy, Inc.
    • Table 8-6. Enhance Energy, Inc. Profile
  • Corporate Overview
  • Financial Performance
  • Enhance at Helm of the Alberta Carbon Trunk Line
  • Exxon Mobil Corp.
    • Table 8-7. Exxon Mobil Corp. Profile
  • Corporate Overview
  • Financial Performance
  • EOR Ventures
  • GlassPoint Solar, Inc.
    • Table 8-8. GlassPoint Solar, Inc. Profile
  • Corporate Overview
  • Financial Performance
  • GlassPoint's Solar Steam Generator
  • Kinder Morgan, Inc.
    • Table 8-9. Kinder Morgan, Inc. Profile
  • Corporate Overview
  • Financial Performance
  • EOR Ventures
  • Maersk Oil Co.
    • Table 8-10. Maersk Oil Co. Profile
  • Corporate Overview
  • Financial Performance
  • EOR Ventures
  • Penn West Exploration
    • Table 8-11. Penn West Exploration Profile
  • Corporate Overview
  • Financial Performance
  • EOR Positioning
  • PetroChina Co., Ltd.
    • Table 8-12. PetroChina Co., Ltd. Profile
  • Corporate Overview
  • Financial Performance
  • EOR Ventures
  • Petroliam Nasional Berhad (Petronas)
    • Table 8-13. Petroliam Nasional Berhad (Petronas) Profile
  • Corporate Overview
  • Financial Performance
  • EOR Ventures
  • Royal Dutch Shell Plc.
    • Table 8-14. Royal Dutch Shell Plc. Profile
  • Corporate Overview
  • Financial Performance
  • EOR Ventures
  • Saudi Arabian Oil Co.
    • Table 8-15. Saudi Arabian Oil Co. Profile
  • Corporate Overview
  • Financial Performance
  • EOR Ventures

Appendix: Addresses of Selected Marketers

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