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Enhanced Oil Recovery, 2nd Edition

June 2012 | 196 pages | ID: EA673A400C5EN
SBI

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Enhanced oil recovery (EOR), also referred to as improved oil recovery or tertiary oil recovery, is most often achieved by injecting a liquid or gas into an oil reservoir, thereby lowering oil viscosity and increasing the amount of oil available for production. Some of the more common EOR methods include gas EOR (mostly CO-2 EOR), thermal EOR and chemical EOR. Microbial EOR and seismic EOR also hold small, but strong niches in the EOR market. While only about 10% - 30% of oil is typically extracted from a well by conventional oil production processes, EOR methods can enhance these recovery rates by an additional 5% to 20% (on a conservative average).

The global market for EOR, estimated at more than $126.02 billion in 2011, has shown exciting growth since 2007, when the market totaled $54.96 billion. Technological challenges, hazy regulations, and high implementation costs have often been inhibitory to EOR projects, although this is quickly changing. Government interest and generous investments are helping to spur new developments in technology and also to increase the availability of necessary materials (such as CO-2). SBI Energy expects the EOR industry will continue to flourish in light of these types of developments and that many individuals involved in the EOR business will enjoy exponential growth in the near future.

A large number of oil fields around the globe are maturing and are producing less oil – those affected are looking to EOR to increase, or at least maintain, their oil production levels. Many countries rely heavily on oil production for their financial health, and are becoming increasingly willing to invest in EOR, especially as the group of successful EOR projects grows and as the high price of oil continues to support research and development schemes.

Around the world, the EOR market is growing and metamorphosing to fit the various regions in which it resides. EOR market growth depends largely on regional factors, such as the health of the local economy; the level of foreign investment; existing politics and policies that may hinder or spur market growth; available technological knowledge and expertise; the type of oil being produced, the geographical location of oil fields and the geology of oil reservoirs; as well as regional oil supply and oil demand. A plethora of technologies and processes are emerging and becoming available that are fulfilling these regional niches and easing EOR production for many oil operators.

Many regions are jumping, or at least easing, into the world of EOR. The Middle East previously did not have much of a need for EOR; oil was plentiful and lower oil prices did not encourage seemingly un-needed experimentation. This is quickly changing; however. Many oil fields in the Middle East are maturing and are producing less oil; other fields in the region are nearing their peak oil production limits and their operators are proactively looking to EOR to maintain steady production in the future. SBI Energy considers the Middle East will whole heartedly be immersing itself in the EOR scene by 2021, with the United Arab Emirates, Kuwait, Saudi Arabia, Iran and Oman leading the way.

The Global Market for Enhanced Oil Recovery, 2nd Edition contains comprehensive historical data (2007-2011) and forecast data (2012-2021) for the enhanced oil recovery (EOR) market. Data, in terms of value (dollars) and volume (barrels) are provided for various methods of EOR, including thermal EOR, gas EOR and chemical EOR. Historical and forecast data are also provided for the oil industry as a whole. Market share between the top dozen countries is discussed and is also broken down by value and volume for each individual country.

This report identifies key trends and factors (such as the regulatory scene, new technologies, economic drivers, challenges and environmental concerns) affecting the size and direction of market growth; discusses employment opportunities in the industry; provides a broad overview of regional involvement in the EOR market; reports on some of the more current or innovative technological advancements and schemes; and contains 15 profiles of major – or simply interesting – companies involved in the EOR market.
CHAPTER 1: EXECUTIVE SUMMARY

Report Scope
Report Methodology
Introduction
  Thermal Recovery
  Gas/CO-2 EOR
  Chemical Injection
  ‘Other’ Methods
Market Size and Growth
  EOR Value Worldwide Exceeds $126 Billion in 2011
  Figure 1-1 Total EOR Market Production Value Worldwide In Million Dollars
  Figure 1-2 Total EOR Production Volume Worldwide In Million Barrels (2007 – 2011)
  EOR Market Value Projected to catapult into 2021
  Figure 1-3 Projected EOR Production Value Worldwide In Million Dollars (2011 – 2021)
  Figure 1-4 Projected EOR Volume Worldwide In Barrels (2011 – 2021)
  Gas/CO2 Injection EOR Holds its Own in EOR Market
  Figure 1-5 Worldwide Gas/CO-2 EOR Production Value In Million Dollars (2007 – 2011)
  Figure 1-6 Worldwide Gas/CO-2 EOR Production Volume In Million Barrels (2007 – 2011)
  Gas/CO2 EOR Segment Nears 7.6 Billion Barrels in 2021
  Figure 1-7 Worldwide Gas/CO-2 EOR Production Value Projections, In Million Dollars (2011 – 2021)
  Figure 1-8 Worldwide Gas/CO-2 EOR Production Volume Projections, In Million Barrels (2011 – 2021)
  China Dominates EOR
  Figure 1-9 China’s EOR Market In Million Dollars (2007-2021)
  Figure 1-10 China’s EOR Market In Million Barrels (2007-2021)
  United States Holds its Own in EOR World
  Figure 1-11 United States’ EOR Market In Million Dollars (2007-2021)
Around the World
  EOR around the World
  North America
Factors in Market Size and Growth
  Many Factors Affect Market Size and Growth
  Global and Regional Economies Impact EOR Market Growth
  EOR Market Guided by Sporadic Price of Oil
  EOR Market Affects Global and National Economies
  Potential for CO-2 EOR Sequestration Questionable
Technological Innovations and Schemes
  EOR Industry Inundated with New Technologies
  Solar Power Joins Forces with EOR
  Acoustic Enhanced Oil Recovery Stimulates Production
Employment Opportunities
  Wide Range of Jobs in EOR Market
  423,000 Employed in EOR Market in 2011
  Figure 1-12 Number of Employees in EOR Market (2007-2011)

CHAPTER 2: INTRODUCTION

Report Scope
Report Methodology
Data for Regional EOR Involvement by Method Elusive
Oil 101
Phases of Oil Production
  Primary Recovery
  Secondary Recovery
  Tertiary Recovery, Also Known As Enhanced Oil Recovery
Methods of Enhanced Oil Recovery
  Thermal Recovery
  Gas/CO-2 EOR
  Chemical Injection
  ‘Other’ Methods
The History of EOR

CHAPTER 3: MARKET SIZE AND GROWTH

Total Oil Production Value Exceeded $2.6 Trillion in 2011
  Figure 3-1 Total Value of Oil Production Worldwide In Trillion Dollars (2007 – 2011)
  Figure 3-2 Total Volume of Oil Production Worldwide In Billion Barrels (2007 – 2011)
EOR Value Worldwide Exceeds $126 Billion in 2011
  Figure 3-3 Total EOR Market Production Value Worldwide In Million Dollars
  Figure 3-4 Total EOR Production Volume Worldwide In Million Barrels (2007 – 2011)
EOR Share of Total Oil Market Approximately 4.8% in 2011
  Figure 3-5 EOR % Share of Total Oil Market In Dollar Value (2007)
  Figure 3-6 EOR % Share of Total Oil Market In Dollar Value (2011)
Total Oil Production Value Projected to Continue Small Climb
  Figure 3-7 Projected Total Oil Production Value Worldwide In Trillion Dollars (2011 – 2021)
  Figure 3-8 Projected Total Oil Production Volume Worldwide In Barrels (2011 – 2021)
EOR Market Value Projected to catapult into 2021
  Figure 3-9 Projected EOR Production Value Worldwide In Million Dollars (2011 – 2021)
  Figure 3-10 Projected EOR Volume Worldwide In Barrels (2011 – 2021)
EOR Share of Total Oil Market Experiences Large Jump in 2021
  Figure 3-11 EOR % Share of Total Oil Market In Dollar Value (2015)
  Figure 3-12 EOR % Share of Total Oil Market In Dollar Value (2021)
Projected EOR Value in Three Oil Price Scenarios
  Figure 3-13 Projected EOR Value, Based on Oil Price per Barrel Three Oil Price Scenarios (2011 – 2021)
  Table 3-1 Projected EOR Market Production Value, Based on Oil Price per Barrel Three Scenarios (2011 – 2021)
Thermal EOR Exceeds $30.2 Million in Production Value in 2011
  Figure 3-14 Worldwide Thermal EOR Production Value In Million Dollars (2007 – 2011)
  Figure 3-15 Worldwide Thermal EOR Production Volume In Million Barrels (2007 – 2011)
Gas/CO2 Injection EOR Holds its Own in EOR Market
  Figure 3-16 Worldwide Gas/CO-2 EOR Production Value In Million Dollars (2007 – 2011)
  Figure 3-17 Worldwide Gas/CO-2 EOR Production Volume In Million Barrels (2007 – 2011)
Chemical Injection Valued at $27.7 Billion in 2011
  Figure 3-18 Worldwide Chemical EOR Production Value In Million Dollars (2007 – 2011)
  Figure 3-19 Worldwide Chemical EOR Production Volume In Million Barrels (2007 – 2011)
‘Other’ EOR Methods Complete Market Pie
  Figure 3-20 Worldwide ‘Other’ EOR Production Value In Million Dollars (2007 – 2011)
  Figure 3-21 Worldwide ‘Other’ EOR Production Volume In Million Barrels (2007 – 2011)
Thermal EOR Dominates Share of EOR Methods in 2021
  Figure 3-22 Worldwide Thermal EOR Production Value Projections, In Million Dollars (2011 – 2021)
  Figure 3-23 Worldwide Thermal EOR Production Volume Projections, In Million Barrels (2011 – 2021)
Gas/CO2 EOR Segment Nears 7.6 Billion Barrels in 2021
  Figure 3-24 Worldwide Gas/CO-2 EOR Production Value Projections, In Million Dollars (2011 – 2021)
  Figure 3-25 Worldwide Gas/CO-2 EOR Production Volume Projections, In Million Barrels (2011 – 2021)
Chemical EOR Tallies in at Nearly 3.4 Billion Barrels in 2021
  Figure 3-26 Worldwide Chemical EOR Production Value Projections, In Million Dollars (2011 – 2021)
  Figure 3-27 Worldwide Chemical EOR Production Volume Projections, In Million Barrels (2011 – 2021)
‘Other’ EOR Responsible for Almost 2.2 Billion Barrels in 2021
  Figure 3-28 Worldwide Thermal EOR Production Value Projections, In Million Dollars (2011 – 2021)
  Figure 3-29 Worldwide ‘Other’ EOR Production Volume Projections, In Million Barrels (2011 – 2021)
Three Main EOR Methods Hold Majority Share of Market
  Figure 3-30 Worldwide EOR Market Value, % Share, by Method (2007)
  Figure 3-31 Worldwide EOR Market Value, % Share, by Method (2011)
  Figure 3-32 Worldwide EOR Market Value, % Share, by Method (2015)
  Figure 3-33 Worldwide EOR Market Value, % Share, by Method (2021)
EOR Industry Distributed Unevenly Around the Globe
  Figure 3-34 EOR Production Worldwide, % Share By Country, 2007
  Figure 3-35 EOR Production Worldwide, % Share By Country, 2012
  Figure 3-36 EOR Production Worldwide, % Share By Country, 2021
China Dominates EOR
  Figure 3-37 China’s EOR Market In Million Dollars (2007-2021)
  Figure 3-38 China’s EOR Market In Million Barrels (2007-2021)
United States Holds its Own in EOR World
  Figure 3-39 United States’ EOR Market In Million Dollars (2007-2021) . 63
  Figure 3-40 United States’ EOR Market In Million Barrels (2007-2021) . 64
Canada Doesn’t Hold Back With EOR Ventures
  Figure 3-41 Canada’s EOR Market In Million Dollars (2007-2021)
  Figure 3-42 Canada’s EOR Market In Million Barrels (2007-2021)
Russia Enjoys Participation in EOR Schemes
  Figure 3-43 Russia’s EOR Market In Million Dollars (2007-2021)
  Figure 3-44 Russia’s EOR Market In Million Barrels (2007-2021)
Kuwait Has Handle on EOR
  Figure 3-45 Kuwait’s EOR Market In Million Dollars (2007-2021)
  Figure 3-46 Kuwait’s EOR Market In Million Barrels (2007-2021)
Oman is No Slacker in EOR Industry
  Figure 3-47 Oman’s EOR Market In Million Dollars (2007-2021)
  Figure 3-48 Oman’s EOR Market In Million Barrels (2007-2021)
Norway Sees Light in EOR
  Figure 3-49 Norway’s EOR Market In Million Dollars (2007-2021)
  Figure 3-50 Norway’s EOR Market In Million Barrels (2007-2021)
Mexico Has Stake in EOR
  Figure 3-51 Mexico’s EOR Market In Million Dollars (2007-2021)
  Figure 3-52 Mexico’s EOR Market In Million Barrels (2007-2021)
United Arab Emirates Ups Its Stake in EOR
  Figure 3-53 United Arab Emirates’ EOR Market In Million Dollars (2007-2021)
  Figure 3-54 United Arab Emirates’ EOR Market In Million Barrels (2007-2021)
Iran Plays EOR Field
  Figure 3-55 Iran’s EOR Market In Million Dollars (2007-2021)
  Figure 3-56 Iran’s EOR Market In Million Barrels (2007-2021)
Nigeria Banks on EOR
  Figure 3-57 Nigeria’s EOR Market In Million Dollars (2007-2021)
  Figure 3-58 Nigeria’s EOR Market In Million Barrels (2007-2021)
India Wades through EOR
  Figure 3-59 India’s EOR Market In Million Dollars (2007-2021)
  Figure 3-60 India’s EOR Market In Million Barrels (2007-2021)
‘Other’ EOR Market No Ghost
  Figure 3-61 ‘Other’ EOR Market In Million Dollars (2007-2021)
  Figure 3-62 ‘Other’ EOR Market In Million Dollars (2007-2021)
Proven Oil Reserves Estimated at Nearly 1.5 Trillion Barrels
  Figure 3-63 Potential EOR Recovery, Based on Proven Oil Reserves 2011-2021
Saudi Arabia, Venezuela and Canada Boast Largest Oil Reserves
  Table 3-2 Potential EOR Production Based on Proven Oil Reserves Top 20 Oil Producing Countries

CHAPTER 4: AROUND THE WORLD

EOR around the World
North America
  EOR in North America
  EOR Schemes in North America
Central and South America
  EOR in Central and South America
  EOR Schemes in Central and South America
Europe
  EOR in Europe
  EOR Schemes in Europe
Asia
  EOR in Asia
  EOR Schemes in Asia
The Middle East
  EOR in the Middle East
  EOR Schemes in the Middle East
Africa
  EOR in Africa
  EOR Schemes in Africa
Australia and the Oceania
  EOR in Australia and the Oceania
  EOR Schemes in Australia and the Oceania

CHAPTER 5: FACTORS IN MARKET SIZE AND GROWTH

Many Factors Affect Market Size and Growth
Market Variables
  Global and Regional Economies Impact EOR Market Growth
  EOR Market Guided by Sporadic Price of Oil
  Peak Oil – Reality or Myth?
  The Politics of Global Warming and EOR
Market Drivers
  EOR Market Affects Global and National Economies
  EOR Industry Sits Happily in Shadow of Giant Oil Market
  Easy Oil Becoming Harder to Find
  There is Still A Heck of A Lot of Oil Out There!
  Increase in CO2 Pipelines Create Market Stability
  Electric and Hybrid Cars May Not Be as Popular as Expected
  Rise of BRICS Countries
  Funding for EOR R&D Fueling Market Growth
  Petroleum Products in High Demand
  The Kyoto Protocol
  United Nations Climate Change Conferences
  OPEC Aims to Coordinate and Unify Policies among Countries
  GHG Emissions Tackled through CO-2 EOR Schemes
Market Deterrents
Potential for CO-2 EOR Sequestration Questionable
  Alternative Fuel Sources May Decrease Oil Demand…Some Day
  Not All EOR Methods Suitable for All Oil Fields
  Figure 5-1 Share of Global Oil Reserves By Density
  EOR Not as Viable for Small Producers
  EOR Still a Young Market with Much to Learn
  Spills Do Happen
  Tighter Regulations Not Helpful to EOR Market
  EOR Regulations Still in Early Stages of Development
  CO2 Leakage May Compromise Integrity of EOR Projects
  Environmentalists Hard Set against Oil Production
The Future of EOR Bright, with a Few Dark Spots

CHAPTER 6: TECHNOLOGICAL INNOVATIONS AND SCHEMES

EOR Industry Inundated with New Technologies
EOR Methods
  Thermal Recovery
  Gas/CO-2 EOR
  Chemical Injection
  Microbial EOR
  Seismic EOR
  WAG and SWAG
  Enyzme EOR
Innovative Projects & Technological Schemes
  Solar Power Joins Forces with EOR
  Acoustic Enhanced Oil Recovery Stimulates Production
  Emerson’s Wireless System for EOR Gets Smart
  Wintershall’s Biopolymer Schizophyllan – Simply Fungus
  Carbon Disulphide Dips into EOR
  Oman’s MEOR Formula Increases Oil Production by 23%
  Ridgeline’s Modular ‘STCI’ for Use in Polymer Flooding
  Maersk’s TriGen Power Generation Useful in EOR
  Chevron Develops Computer Monitoring System for EOR
  Enhanced Bitumen Recovery Using High Permeability Pathways
  Optimal’s E2EOR® Ideal for High Salinity, Heavy Oil Production
  Paradigm Oil & Gas’ Transportable EOR Platform
  Dow Earns Patent for Surfactant Injection System
  Fluid Dynamics™ Creates Polymer Blending System
  Electric EOR Saves Electricity!
  Nikron’s Super Hot Steam Injection Heats up Market
  VeruTEK®’s EOR Product Line Biodegradable
  NiMin’s CMD Technology Recovers Up to 60%
Saudi Aramco Creates Microscopic Robots for EOR Monitoring

CHAPTER 7: EMPLOYMENT OPPORTUNITIES

Wide Range of Jobs in EOR Market
Increase in EOR Schemes Incites Job Growth
Many Experience Requirements and Salary Levels in EOR
423,000 Employed in EOR Market in 2011
  Figure 7-1 Number of Employees in EOR Market (2007-2011)
About 1,786,827 Employed in EOR Market in 2021
  Figure 7-2 Projected Number of Employees in EOR Market (2011-2021)
Job Openings Found on Employment Websites
Job Openings Found on Company Websites
Scholarships and Training

CHAPTER 8: COMPANY PROFILES

EOR Mostly Majors; Smaller Companies Easing In
Company Profiles
Cairn Energy Plc.
  Table 8-1 Cairn Energy Plc. Profile
  Corporate Overview
  Financial Performance
  Cairn Uses EOR in Rajasthan Bloc
Chevron Corp.
  Table 8-2 Chevron Corp. Profile
  Corporate Overview
  Financial Performance
  EOR Ventures
China Oilfield Technology Services Group, Ltd.
  Table 8-3 China Oilfield Technology Services Group, Ltd. Profile
  Corporate Overview & EOR Involvement
  Financial Performance
Denbury Resources, Inc.
  Table 8-4 Denbury Resources, Inc. Profile
  Corporate Overview
  Financial Performance
  EOR Ventures
Enhance Energy, Inc.
  Table 8-6 Enhance Energy, Inc. Profile
  Corporate Overview
  Financial Performance
  Enhance at Helm of the Alberta Carbon Trunk Line
Exxon Mobil Corp.
  Table 8-7 Exxon Mobil Corp. Profile
  Corporate Overview
  Financial Performance
  EOR Ventures
GlassPoint Solar, Inc.
  Table 8-8 GlassPoint Solar, Inc. Profile
  Corporate Overview
  Financial Performance
  GlassPoint’s Solar Steam Generator
Kinder Morgan, Inc.
  Table 8-9 Kinder Morgan, Inc. Profile
  Corporate Overview
  Financial Performance
  EOR Ventures
Maersk Oil Co.
  Table 8-10 Maersk Oil Co. Profile
  Corporate Overview
  Financial Performance
  EOR Ventures
Penn West Exploration
  Table 8-11 Penn West Exploration Profile
  Corporate Overview
  Financial Performance
EOR Positioning
PetroChina Co., Ltd.
  Table 8-12 PetroChina Co., Ltd. Profile
  Corporate Overview
  Financial Performance
  EOR Ventures
Petroliam Nasional Berhad (Petronas)
  Table 8-13 Petroliam Nasional Berhad (Petronas) Profile
  Corporate Overview
  Financial Performance
  EOR Ventures
Royal Dutch Shell Plc.
  Table 8-14 Royal Dutch Shell Plc. Profile
  Corporate Overview
  Financial Performance
  EOR Ventures
Saudi Arabian Oil Co.
  Table 8-15 Saudi Arabian Oil Co. Profile
  Corporate Overview
  Financial Performance
  EOR Ventures

APPENDIX: ADDRESSES OF SELECTED MARKETERS


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