Growing Oil Demand and Import in Asia Pacific to Fuel Growth of Global Enhanced Oil Recovery

The report on the global market for enhanced oil recovery compiled by Transparency Market Research includes diligently researched facts and figures to give readers a comprehensive overview of the market behavior.

                                  

The report presents an in-depth analysis of the various EOR technologies used for extracting oil, including chemical injection, thermal injection and gas injection. According to the report, thermal injection is most widely used across the industry, which makes it the highest grossing segment. It accounted for 51.5% of the overall market in 2012. Market experts are of the view that the industry has already reached its mature stage, which enhances its chances of losing a significant share of the global market to other technologies.

The market for gas EOR is anticipated to grow and take up 38.5% of the market by 2023. Additionally, chemical technology of EOR that accounted for 10.3% share of the global market in 2012 is anticipated to reach 29.71% by the end of 2023.

The report also evaluates the global enhanced oil recovery market in terms of geographical segments.

The report underlines the names of key players in the global EOR market such as Anadarko Petroleum Corporation, Cenovus Energy Inc., Conoco Phillips, BP Plc, Statoil ASA, Chevron Corporation, Royal Dutch Shell Plc, Exxon Mobil Corporation, and Petronas. These companies are anticipated to lead the global market for enhanced oil recovery during the forecast period.

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