Enhanced oil recovery (EOR), also known as the tertiary oil recovery refers to the extraction of crude oil from an oil field which cannot be extracted otherwise. This process also aims towards increasing the amount of oil along with condensate and natural gas recovered from the reservoirs. EOR is highly effective in improving the returns from an oil well as it can extract more amount of oil from reservoirs compared to primary and secondary recovery.
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Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Enhanced Oil Recovery (EOR) Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.
The enhanced oil recovery market is anticipated to grow in the forecast period owing to driving factors such as growing oil demands and imports in the emerging economies coupled with increasing number of matured wells. Investments in R&D for development of new resources further drive the enhanced oil recovery market growth. However, associated environmental issues such as brine contamination hinder the growth of the enhanced oil recovery market.
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Major vendors covered in this report:
- BP p.l.c.
- Chevron Phillips Chemical Company LLC
- China Petroleum & Chemical Corporation
- ConocoPhillips Company
- Equinor ASA
- Exxon Mobil Corporation
- Nalco Champion (Ecolab Inc.)
- Petrobras
- PJSC Lukoil
- Royal Dutch Shell plc
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Enhanced Oil Recovery (EOR) market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Enhanced Oil Recovery (EOR) market segments and regions.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global enhanced oil recovery market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The enhanced oil recovery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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The report analyzes factors affecting enhanced oil recovery market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors affecting the enhanced oil recovery market in these regions.
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