Enhanced Oil Recovery: Technologies and Global Markets

Report Highlights

The global enhanced oil recovery (EOR) market totaled nearly $22.9 billion in 2016 and should total $30.4 billion by 2021, with a five-year compound annual growth rate (CAGR) of 5.9% through 2021.

Report Includes

• 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 enough to continue normal field operations economically.
• Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021.
• Identification of 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; other important products include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen, and CO_².
• Discussion of the most recent government, industry, and academic data regarding the amount of oil in place that potentially can be extracted via EOR.
• Examination of governments' roles in support of EOR technologies worldwide, including regulatory support, government requirements, and promotional incentives for various EOR technologies as relevant and available.

Report Scope

The scope of this investigation includes all of the major viable EOR technologies that are currently being implemented in the global oil industry. Separate from hydrofracture and tight sands or tight oil extraction are categorized as Improved Oil Recovery (IOR) of which EOR is a subset), EOR was originally developed as a means to extract additional oil from reservoirs after primary and secondary recovery methods ceased to be productive enough to maintain economic field operation. In some cases, the EOR technologies considered in this report may also be applied immediately following initial well drilling. These applications are common for fields where primary and secondary recovery technologies are incapable of producing adequate oil in any phase of an oil field operation.

Installation and operation of EOR technologies can include various 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, gas recapture and separation systems, and various other equipment and facilities. Other important products of an EOR technology include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen and CO₂. Although steam and onsite-compressed atmospheric nitrogen are also important oil recovery media, they are not considered EOR technology products within this report as they are supplied at minimal or no direct cost, unlike CO₂ or specialized injection chemicals that are supplied to an EOR operation.

The market analysis provided in this report presents region-specific and country-specific market valuation data for each of the EOR technologies considered in this study. These include breakdowns for the following categories:

• Steam Flooding.
• In-Situ Combustion.
• Chemical Flooding.
• Hydrocarbon Gas Flooding.
• Nitrogen Gas Flooding.
• Carbon Dioxide Flooding.

Estimated values in each of these categories are based on manufacturers’ total revenues. Projected and forecasted revenue values are in constant US dollars (2017), unadjusted for inflation.

Emerging EOR technologies that may become commercially viable within the next five years are summarized but are not included in the market assessment of this report. BCC analyzes each major viable EOR technology, determines its current market status, examines its impact on future markets and presents forecasts of growth over the next five years. BCC analyzes the industry on a worldwide basis in terms of its manufacturing and the deployment of its technologies or products. BCC also examines government roles in support of EOR technologies worldwide, including regulatory support, government requirements and promotional incentives for various EOR technologies as relevant and available. BCC provides a review of the most relevant EOR technologies, discusses recent trends in capacity installation and unit sales and provides industry overviews and market assessments for each EOR technology.

Analyst Credentials

Robert Eckard, PhD, has 15 years of experience working in the cleantech, clean transportation, clean/smart cities, advanced fuels, water and energy sectors. Having completed his dissertation at the University of California at Davis, Robert also runs a specialty industry research and technical consulting company, with an emphasis on energy, water and climate-oriented sectors, including those segments relevant to this study. Robert specializes in commercialization, data-based economic analysis, market development and penetration, environmental analysis and technical energy, environmental and market studies for Fortune 500, Global 1000 and promising startups, as well as state and local governments, other consultants and industry organizations throughout the U.S., Canada, Europe, the Middle East, Southeast Asia and Australia. He worked as a subcontractor under the U.S. Department of Energy providing evaluations of a wide array of industrial technologies, systems and related supply markets. He helped to successfully develop new markets in the U.S. and abroad, identify target niches and support highly successful business strategy development. Previously, he produced reports for BCC Research on global markets pertaining to energy, industry, energy efficiency, water and industrial, durable goods and related categories and technologies. Robert works directly in the industries that he analyzes and has successfully secured over $225 million in fund development for specific projects and technologies in the last six years.