Enhanced oil recovery (EOR) is a term for the techniques used for
boosting oil recovery by injecting chemicals, gas, or steam to force
more oil from an aged field. EOR is also called tertiary recovery or
improved oil recovery. On an average, 70% to 75 % of the oil remains
trapped in reservoirs because it is too difficult to extract, so by
using EOR, about 30 to 60 % of the reservoir's original oil can be
extracted. EOR has the capability to increase oil recovery up to 75%,
although it is expensive to use in an oil field.
Currently three methods of EOR are used - gas injection, thermal
recovery, and miscible solvents. But all the reservoirs cannot use EOR
methods for production due to the higher cost of development. So these
reservoirs must be heavily evaluated to determine which type of EOR will
work best on the reservoir.
Thermal (Steam):
A steam injection heats the oil inside the reservoir which helps it
flow easily through the fractures to the production wells. Along with
maximum possible oil recovery, the thermal recovery method is
accompanied by high capital expenditures as well as high operating cost
and is therefore risky. A steam injection into the reservoir raises
recovery from 3-5% to 25-35%. The best thermal production techniques
which are used currently are: steam assisted gravity drainage, cyclic
steam stimulation, steam flood, and in-situ combustion. In 2011 some
advanced projects started in Oman and California, which used solar
energy to produce steam. It is estimated that over 50% of applied EOR in
the United States is done by thermal recovery.
Gas Injection:
Gas injection for EOR involves injecting nitrogen, carbon dioxide,
or natural gas into the reservoir among which the carbon dioxide-EOR
method is gaining the most popularity. Gas injection EOR involves
injecting the miscible gas into a reservoir which creates an easy
flowing mixture which flows to production wells from the reservoir.
Injecting gas into the fractures raises the recovery of oil from the
field from 10% to 45-50%.
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Chemical Injection:
Chemical EOR introduces a polymer into the reservoir to improve the
effectiveness of surfactants, which helps lower the surface tension
that holds back the flow of crude oil through the well. This method
includes surfactant flooding (including foam) polymer displacement,
alkaline displacement, acid displacement, chemical reagents
displacement, and microbiological treatment. It is estimated that
injection of chemical into the reservoirs increases the oil recovery
from 15 % to 25%.
The use of this method is limited because of the expensive
chemicals needed, impact on the environment, and less proven records of
success of this method. With the application of this method the recovery
of oil from the field sees an increase of 15 % to25%.
The market is showing growth since 2005 because of government
interest and investment in new technologies as the increase in oil
production will fuel the economy and use of CO2 will help reduce the
industrial CO2 emissions. It is estimated that more than 130 billion
tons of carbon dioxide could be captured by CO2-EOR on a global scale.
The current total oil production is approximately 700 million barrels
which is expected to grow almost 10 times by 2020 which will boost the
revenue by around 14 times in the next 8-10 years.
There is an increase in the use of gas-EOR by oil industries in
America, Asia-Pacific, and in other countries because the companies with
carbon capture and storage technologies can market their carbon dioxide
to oil industries, which also helps them to reduce greenhouse gases and
receive possible tax breaks or government grants.
This research report analyzes this market depending on its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
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- Market growth drivers
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- Current market trends
- Market structure
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This report is a complete study of current trends in the market,
industry growth drivers, and restraints. It provides market projections
for the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed profiles of
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macro factors essential for the existing market players and new entrants
along with detailed value chain analysis.
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