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
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
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
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.
The information in The Global Market for Enhanced Oil Recovery, 2nd Edition is
based on data from government agencies, such as the U.S. Census Bureau, U.S.
Department of Energy, and the Central Intelligence Agency; trade associations;
business, science and law journals; company literature and websites;
interviews with at least ten key individuals; and from research services and
institutes around the world.
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
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
Table of Contents
Chapter 1: Executive Summary
Market Size and Growth
EOR Value Worldwide Exceeds $126 Billion in 2011
Figure 1-1. Total EOR Market Production Value Worldwide In Million
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)