Global Enhanced Oil Recovery Market: Overview
The enhanced oil recovery is a technique utilized to remove crude oil which cannot be extracted with the conventional methodologies from the oil reservoirs. It is also known as the tertiary recovery procedure as it is carried out after the primary oil recovery and secondary oil recovery. The primary techniques used in the enhanced oil recovery include gas injection, microbial injection, chemical injection, and thermal injection. The thermal recovery technology has widely chosen a technique for improving the extraction of oil. The thermal recovery is performed via a reserve heating and fire & steam flooding. Steam or heat is established into the well to decrease the oil viscosity. Thus, rising demand for the enhanced oil recovery around the globe is expected to augment the market growth in the coming period.
Global Enhanced Oil Recovery Market: Growth Factors
The prominent factors responsible for fueling the global enhanced oil recovery market are the amplifying gap between the requirement of oil around the world and its production. Furthermore, the rising requirement of crude oil, elevated recovery rates, increasing numeral of mature oil wells, and encouraging government regulation and programs for producing a suitable infrastructure and enhanced technology for the production of oil are few other factors that are driving the growth of the market. However, environmental issues such as brine contamination and the dropping costs of crude oil may restrain the growth of the market for enhanced oil recovery.
Request Free Sample Report @ https://www.zionmarketresearch.com/sample/enhanced-oil-recovery-market
Global Enhanced Oil Recovery Market: Segmentation
The global enhanced oil recovery market can be segmented based on application, technology, and geography. The application segment of the market is divided into offshore and onshore. The technology segment of the enhanced oil recovery market is categorized into chemical, thermal, gas injection, and others. Regionally, the market is grouped into Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa.
Global Enhanced Oil Recovery Market: Regional Analysis
North America is anticipated to lead the global market for enhanced oil recovery in the near future due to the existence of a huge digit of mature wells and an extensive generation of unconventional energy in this region. Asia Pacific region is also projected to grow at a significant rate in the market in the coming period. This growth of the market can be attributed to the fast industrialization and increasing oil & gas industry in this region.
Request Report TOC (Table of Contents) @ https://www.zionmarketresearch.com/toc/enhanced-oil-recovery-market
Global Enhanced Oil Recovery Market: Competitive Players
The prominent players in the global enhanced oil recovery market include ExxonMobil Corporation, Cenovus Energy Inc, Chevron Corporation, BP Plc, and Anadarko Petroleum Corporation. The other key players in the market are Petronas, ConocoPhillips, OAO Lukoil, Statoil ASA, and Royal Dutch Shell Plc.
Browse detail report @ https://www.zionmarketresearch.com/report/enhanced-oil-recovery-market
About Us: Zion Market Research is an obligated company. We create futuristically, cutting edge, informative reports ranging from industry reports, a company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with Vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from Cardinal Industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
4283, Express Lane,
Sarasota, Florida 34249, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Visit Our Blog: https://zionmarketresearch.wordpress.com/