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Enhanced Oil Recovery Technologies & Global Markets in a New Research Report Available at ReportsnReports.com
Date:8/24/2013

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Climate change and control of greenhouse gas (GHG) emissions—particularly carbon dioxide (CO2) —also represent key issues of contemporary global and national energy policy that can be addressed through the application or increased utilization of EOR technologies. Increasingly global efforts to minimize or offset GHG emissions present an opportunity for the global oil industry to boost oil production at select fields by injecting waste CO2 into underground oil reservoirs. When properly managed, CO2 captured from industrial, petrochemical or power generation sources can be sequestered deep underground, preventing its release to the atmosphere. Such efforts represent a convergence of industry efforts to increase oil production from existing assets while partially offsetting the effects of fossil fuels on global climate change.

Current market conditions and recent advances in EOR technologies, including industry understanding regarding the effective application of EOR, are principally responsible for continued growth in enhanced oil recovery. Additional costs associated with the services and infrastructure required for EOR technologies may limit their application; however, currently high oil prices globally have reduced the significance of added costs and greatly increased the economic viability of EOR technologies. Further growth in the market for EOR technologies is anticipated due to their technological maturity, strong representation from a variety of service providers and product suppliers in the global oil industry, extensive industry experience in the application of EOR technologies and the technologies’ proven efficacy in increasing oil production at oil fields worldwide.

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