BP, Chevron, and ExxonMobil are three key vendors highlighted in a new Technavio report
London, 01 September 2015 – Technavio has published a new report on the global enhanced oil recovery market, which is expected to grow at a CAGR of nearly 17% from 2015-2019.
Enhanced oil recovery market segmentation including technology and geography
Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different technologies, including thermal recovery, gas injection, chemical injection, and other technologies.
Additionally, analysts have segmented market projections by key geography, focusing on the Americas, EMEA, and the APAC region.
“The oil and gas companies across the world are increasingly spending substantial amounts on R&D for EOR technology. In the coming years, governments are also expected to invest substantially in EOR technology to increase production from aging wells to meet the huge demand-supply gap of fossil fuels. This is one major trend that will lead to market growth in the forecast period,” says Faisal Ghaus, Vice President of Technavio.
Enhanced oil recovery: Market scope and calculation of market size
This report covers the present scenario and growth prospects for the global enhanced oil recovery market from 2015-2019. The market size has been calculated using revenue generated from EOR. The report also presents a detailed study of growth patterns of the market.
Industry analysis includes:
Key Vendors:
- BP
- Chevron
- ExxonMobil
- Royal Dutch Shell
- Total
Market Growth Drivers:
- Increased global consumption of oil and gas
- Growing number of mature oil fields
Market Challenges:
- High capital investment
- Environmental risks associated with EOR technologies
Market Trends:
- EOR as a method for carbon sequestration
- Increasing R&D investment
View the global enhanced oil recovery market report.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
