LONDON, May 21, 2018 (GLOBE NEWSWIRE) -- Visiongain’ has launched a new energy report EOR Yearbook 2018: The Ultimate Guide To Enhanced Oil Recovery (EOR). Capex ($m) & Production (bpd) Forecasts For Chemical (Polymer, Surfactant, ASP, Alkali, Miscible, SP, AP), Gas (Carbon Dioxide (CO2 Injection, Nitrogen Injection, Natural Gas Injection), Thermal (Steam Injection (Steam Flood, Cyclic Steam Simulation (CSS)), Steam Assisted Gravity Drainage (SAGD), In-Situ Combustion, Heavy Oil Recovery) Technologies
Enhanced oil recovery (EOR) technologies are used to increase the amount of oil that can be extracted from an oil field after the primary and secondary production stages.
The EOR market is still under stress due to the depressed oil prices. While this is unlikely to recover in the immediate future, the next ten years are still likely to see production and spending increases in most EOR submarkets. Growth rates and the methods employed will vary considerably from country to country.
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Many of the world’s conventional oil fields have already started the inevitable decline in production rate owing to years of extraction of a finite resource. While unconventional reserves do hold the possibility for enormous oil production levels, they are not found everywhere, and the difficulty in extraction of oil from such reserves means that it is not always feasible to develop them. This means that it is often most beneficial to apply EOR to existing fields to help achieve the maximum recovery rate from each well.
EOR technologies have been in operation for a number of decades, primarily being used to recover more oil from ageing oil fields. However, escalating oil demand in emerging economies, improved technologies, ageing oil fields and a dearth of conventional oil finds helped to drive investments in the market and increase production. As a result of this, thermal, gas and chemical EOR methods are no longer confined to a few select countries. Although the oil price fall has slowed investment in EOR production in some regions (such as North America), companies elsewhere in the world will continue to implement projects to make the most of their existing reserves and meet production targets over the next ten years.
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The visiongain report analyst commented, “With increasing global energy demand, ageing oil fields and a dearth of conventional oil finds, enhanced oil recovery techniques are set to play an increasingly important role in the global oil industry over the coming decade. The oil price uncertainty takes its toll on new EOR investments. However, their resilience is strengthened by the fact that EOR methods are no longer confined to a few select countries, with companies throughout the world beginning to implement projects to make the most of their existing reserves.”
Leading companies featured in the report who are developing EOR methods include Suncor, ConocoPhillips, Imperial Oil, Cenovus, Chevron, PDVSA, Husky, Sinopec, Occidental, Kinder Morgan, Denbury Resources, Hilcorp Energy, Whiting Petroleum, BlackPearl Resources Inc, China National Petroleum Corporation (CNPC), China National Offshore Oil Corporation (CNOOC) & Canadian Natural Resources (CNRL)
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The full list of companies mentioned in this report include:
Companies Listed
Abu Dhabi Company for Onshore Oil Operations (ADCO)
Accelerated Oil Technologies LLC
Aera Energy
Agrium
Air Liquide
Air Products & Chemicals Inc
Alstom
Anadarko
Andora Energy
Anterra Energy Inc
Apache Corporation
Athabasca Oil Corporation
Babcock & Wilcox Canada
Basin Electric Power Cooperative
Bayou State
Bayshore Petroleum
Baytex Energy
Beijing Hengju Chemical Group Corp
Berexco
BlackPearl Resources Inc.
BP
Breitburn Energy
Brion Energy
Cairn Energy
California Resources Corporation
Canadian Natural Resources Limited (CNRL)
Captain Clean Energy
Cenovus
Chaparral Energy
Chesapeake Energy
Chevron
Chevron Canada
China Datang Corporation
China National Offshore Oil Corporation (CNOOC)
China National Petroleum Corporation (CNPC)
China Petroleum and Chemical Corporation (Sinopec)
China Resources Power
Chrysalix Energy Venture Capital
Citgo Petroleum Group
CO2 Deepstore
CO2 Solutions
Coffeyville Resources Nitrogen Fertilizers
Connacher Oil and Gas Limited
ConocoPhillips
Continental Resources
Core Energy
Crescent Point
Denbury Resources
Devon Energy
Don Valley Power
Dongguan Taiyangzhou Power Corporation
Ecopetrol S.A.
Emirates Aluminium (EMAL)
Enhance Energy
Eni
EOG Resources
ExxonMobil
Fleur de Lis Energy
Fluor
Gazprom Neft
GlassPoint
Glencoe Resources
GreenGen Tianjin IGCC Co. Ltd
Harvest Operations
Hess Corporation
Hilcorp Energy
Hitachi
Huntsman
Husky Energy
Husky Oil
Hyak Energy
IESA
Imperial Oil
Japan Canada Oil Sands
Japan Oil, Gas and Metals National Corporation (JOGMEC)
Japan Vietnam Petroleum Co., Ltd (JVPC)
JX Nippon Oil & Gas Exploration Corp.
KBR
Kemira
KGOC
Kinder Morgan
Koch Nitrogen Company
Kuwait Gulf Oil Company
Kuwait Oil Company (KOC)
Kuwait Petroleum Corporation
Laricina Energy
Linn Energy
Liwa Energy
Lukoil
Maha Energy
Marathon Oil
Masdar
Medco Energi
MEG Energy
Merit Energy
Mississippi Power
Murphy Oil
Naftex
NAM
National Grid
Neill and Gunter Ltd.
Nexen
North West Sturgeon refinery
NRG Energy
Nth Power
Occidental Chemical Corporation
Occidental Petroleum
Oil and Natural Gas Corporation Limited (ONGC)
Oil India Ltd
Oman Oil Company
Osum Oil Sands
Pacific Exploration & Production
Pan American Energy
Partex
Pengrowth Energy Corporation
Penn West Exploration
Pertamina
PetraNova
Petro River Oil
Petrobank Energy & Resources
Petrochina
Petroleo Brasileiro S.A. (Petrobras)
Petróleos de Venezuela, S.A. (PDVSA)
Petróleos Mexicanos (PEMEX)
Petroleum Company of Trinidad and Tobago Limited (Petrotrin)
Petroleum Development Oman (PDO)
Petrovietnam
Pioneer Natural Resources
Prosper Petroleum
PT Erraenersi Konstruksindo
PT Multi Structure
Reliance Industries Ltd (RIL)
Rex Energy
Rock Energy
RockPort Capital
Rosneft
Royal Dutch Shell
Sandridge Energy
SaskPower
Saudi Aramco
Schlumberger
Scimitar
Seneca Resources
Shaanxi Yanchang Petroleum Group
Shandong Polymer Bio-Chemicals Co. Ltd
Shell Canada
Shell Oman Marketing Company
Siemens Energy
SKK Migas
SNC Lavalin-Cansolv
SNF Floerger
South West Partnership
Southern Company
Southern Pacific Resources
Statoil
Summit Power Group
Suncor
Sunshine Oil Sands
Talisman
Tatweer Petroleum
Taweelah Asia Power Company (TAPCO)
Total
Touchstone
Turkish Petroleum Corporation (TPAO)
Whiting Petroleum
Wintershall
XTO Energy
Zargon Oil & Gas
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Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100
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