The report “Global Enhanced Oil Recovery Market, By Technology (Thermal, Gas Injection, Chemical, and Other EOR), By Application (Onshore and Offshore), and Region - Forecast till 2029” Global enhanced oil recovery market is projected to grow from US$ 43.7 billion in 2020 to US$ 77.8 billion by 2029. The global enhanced oil recovery market is driven by increasing number of mature oil fields worldwide and increasing depletion in oil reserves. Further, focus on heavy oil reservoirs also provides opportunities for growth of the enhanced oil recovery market.

Key Highlights:

In May 2018, Petroliam Nasional Berhad (PETRONAS), the national oil company of Malaysia and Saudi Arabian Oil Company (Saudi Aramco) collaborated and launched the corporate identity for their joint ventures in the Pengerang Integrated Complex (PIC) located in Pengerang, Johor, Malaysia, namely Pengerang Refining Company Sdn Bhd (PRefChem Refining) and Pengerang Petrochemical Company Sdn Bhd (PRefChem Petrochemical), collectively known as “PRefChem”.
In 2017, Chevron North Sea Limited (CNSL), operator of the Captain Field, announced that it has sanctioned the Final Investment Decision (FID) to proceed with the first phase of the Captain Enhanced Oil Recovery (EOR) project.
Key Market Insights from the report:

The global enhanced oil recovery market accounted for US$ 43.7 billion in 2020 and is projected to register a moderate CAGR of 6.6 % over the forecast period. The market report has been segmented on the basis of technology, application, and region.

By technology, the global enhanced oil recovery market is segmented into thermal, gas, chemical, and other EOR.

By application, the onshore segment account significant share in the enhanced oil recovery market owing to presence of larger number of mature and aged wells compared to offshore.

By region, North America region account significant share in global enhanced oil recovery market owing to the presence of a large number of mature wells and large-scale development of unconventional energy in this region.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Enhanced Oil Recovery Market”, By Technology (Thermal, Gas Injection, Chemical, and Other EOR), By Application (Onshore and Offshore), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - forecast till 2029

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Links:

https://www.prophecymarketinsights.com/market_insight/Global-Enhanced-Oil-Recovery-Market-433

The prominent player operating in the global enhanced oil recovery market includes ExxonMobil Corporation, Cenovus Energy Inc., Chevron Corporation, BP Plc., Anadarko Petroleum Corporation, Petronas, ConocoPhillips, OAO Lukoil, Equinor ASA, and Royal Dutch Shell Plc.

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