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.
Browse Full Report: http://www.transparencymarketresearch.com/enhanced-oil-recovery.html
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.
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 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%.
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%.
More Reports On Energy Market: www.transparencymarketresearch.com/energy-market-reports-3.html
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
· Rest of the World
This report provides comprehensive analysis of
· Market growth drivers
· Factors limiting market growth
· Current market trends
· Market structure
· Market projections for upcoming years
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 top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
· This report provides pin-point analysis for changing competitive dynamics
· It provides a forward looking perspective on different factors driving or restraining market growth
· It provides a technological growth map over time to understand the industry growth rate
· It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
· It helps in understanding the key product segments and their future
· It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
· It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
· It provides distinctive graphics and exemplified SWOT analysis of major market segments
Transparency Market Research (TMR) is a market intelligence company providing global business research reports and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers.
TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources along with various tools and techniques to gather and analyze information.
Our business offerings represent the latest and the most reliable information which is indispensable for businesses to sustain their competitive edge.
Our data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Our research reports cover global markets, present analysis and forecast for a period of five years.
The market structure and forecasts are developed on the basis of secondary research and are cross-validated through primaries conducted with industry players and key opinion leaders (KOLs).
Respondents are led through a questionnaire to gather quantitative and qualitative inputs on their operations, performance, strategies and views on the overall market, including key developments and technology trends.
Data from interviews are then consolidated, checked for consistency and accuracy, and inserted into the Transparency Market Research data model to arrive at the market numbers following the bottom–up approach.
90 State Street,
Albany NY – 12207
USA - Canada
Toll Free 866-552-3453
Browse Market Researche Report:-