CO2 EOR Market

CO2 EOR Market was valued US$ 3.73 Bn in 2017 and is expected to reach 23.1Bn by 2026, at a CAGR of 25.6% during a forecast period.

 

Global CO2 EOR Market

 

CO2 is mainly a type of gas injection EOR method that delivers numerous advantages over other EOR techniques like neutral performance of the gas and doesn’t disturb the quality of crude oil in terms of its chemical configuration. Therefore, it lead in the development of large CO2 stations in the Permian Basin region. The CO2 EOR market is predictable by the Permian Basin CO market which is driven to the growth of CO2 EOR market in terms of oil production due to the high number of projects.

 

The CO2 EOR market is projected by Permian Basin with support of local and state government that drives the development of the CO2 EOR market. Easily accessible with huge quantities of CO2 in the U.S makes Permian basin a favoured choice for oil exploration companies to abstract crude oil from a field in the Permian region. Hence, it is projected that in the future Permian basin will be one of the most reliable sources of crude oil supply.

 

The CO2 EOR market is segmented by technology, component, application, and region.

In technology segment, the TEOR lead around XX% of the global share in terms of revenue in 2017. In thermal recovery, oil is removed through reserves by introducing heat into the subsurface accumulation of organic compounds. This is completed through steam & fire flooding and reserve heating.

 

The chemical and gas injection methods are gaining share significantly. These two recovery technologies together lead around XX% of the total revenues share in 2017. These technologies have anadvanced recovery rate and are cost-efficient.

 

The area has the occurrence of larger number of mature and aged wells as compared to offshore, ensuing in the requirement of these technologies.

The technology is frequently employed in the onshore segment. However, many offshore oil reserves are also exposed since past few decades. Extraction for an offshore reserve is a costly process, so many companies are also applying regaining technique in primary or secondary oil production phase to increase the extraction.

 

In terms of region, North America was leading in 2017 and is projected to show the same trend over the predictable future. North America is the industry leader owing to the existence of a large number of mature wells and large-scale expansion of unconventional energy in the region. The global industry is moderately consolidated and extremely competitive due to the presence of a large number of big and experienced multinational players.Rising concerns regarding dangerous temperature operating conditions, well blowout, and wellbore stability are projected to drive the demand for oilfield services in offshore and onshore regions in the Middle East & Africa over the next eight years.

 

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global CO2 EOR market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global CO2 EOR market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.

 

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The Scope of the Report for Global CO2 EOR Market

 

Global CO2 EOR Market, By Technology

 

• Thermal
• Gas Injection
• Chemical
• Other EOR

Global CO2 EOR Market, By Application

 

• Onshore
• Offshore

Global CO2 EOR Market, By Component

 

• CO2 sources
• Pipelines
• Injection
• National market forecasts

Global CO2 EOR Market, By Region

 

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Key players operating in Global CO2 EOR Market

 

• Whiting Petroleum Corporation
• Kinder Morgan
• Denbury Resources
• NRG Energy
• Occidental Petroleum Corporation
• Cenovus Energy, Inc.
• Husky Energy
• Anadarko Petroleum Corporation
• Linc Energy
• Elk Petroleum
• Saudi Aramco.
• ExxonMobil Corporation, BP plc.
• China Petroleum & Chemical Corporation
• Royal Dutch Shell plc
• Chevron Phillips Chemical Company LP.
• Lukoil Oil Company
• Praxair Technology, Inc.
• Chevron Corporation
• PetroleoBrasileiro S.A.
• Cenovus Energy Inc.

 

 

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