Enhanced
oil recovery (EOR) is a term for the techniques used for boosting oil recovery
by injecting chemicals, gas, or steam to force more oil from an aged field. EOR
is also called tertiary recovery or improved oil recovery. On an average, 70%
to 75 % of the oil remains trapped in reservoirs because it is too difficult to
extract, so by using EOR, about 30 to 60 % of the reservoir's original oil can
be extracted. EOR has the capability to increase oil recovery up to 75%,
although it is expensive to use in an oil field.
Currently
three methods of EOR are used - gas injection, thermal recovery, and miscible
solvents. But all the reservoirs cannot use EOR methods for production due to
the higher cost of development. So these reservoirs must be heavily evaluated
to determine which type of EOR will work best on the reservoir.
Thermal (Steam):
A
steam injection heats the oil inside the reservoir which helps it flow easily
through the fractures to the production wells. Along with maximum possible oil
recovery, the thermal recovery method is accompanied by high capital
expenditures as well as high operating cost and is therefore risky. A steam
injection into the reservoir raises recovery from 3-5% to 25-35%. The best
thermal production techniques which are used currently are: steam assisted
gravity drainage, cyclic steam stimulation, steam flood, and in-situ
combustion. In 2011 some advanced projects started in Oman and
California, which used solar energy to produce steam. It is estimated that over
50% of applied EOR in the United States is done by thermal recovery.
Gas Injection:
Gas
injection for EOR involves injecting nitrogen, carbon dioxide, or natural gas
into the reservoir among which the carbon dioxide-EOR method is gaining the
most popularity. Gas injection EOR involves injecting the miscible gas into a
reservoir which creates an easy flowing mixture which flows to production wells
from the reservoir. Injecting gas into the fractures raises the recovery of oil
from the field from 10% to 45-50%.
Chemical Injection:
Chemical
EOR introduces a polymer into the reservoir to improve the effectiveness of
surfactants, which helps lower the surface tension that holds back the flow of
crude oil through the well. This method includes surfactant flooding (including
foam) polymer displacement, alkaline displacement, acid displacement, chemical
reagents displacement, and microbiological treatment. It is estimated that
injection of chemical into the reservoirs increases the oil recovery from
15 % to 25%.
The
use of this method is limited because of the expensive chemicals needed, impact
on the environment, and less proven records of success of this method. With the
application of this method the recovery of oil from the field sees an increase
of 15 % to25%.
The
market is showing growth since 2005 because of government interest and
investment in new technologies as the increase in oil production will fuel the
economy and use of CO2 will help reduce the industrial CO2 emissions. It is
estimated that more than 130 billion tons of carbon dioxide could be captured
by CO2-EOR on a global scale. The current total oil production is approximately
700 million barrels which is expected to grow almost 10 times by 2020 which
will boost the revenue by around 14 times in the next 8-10 years.
There
is an increase in the use of gas-EOR by oil industries in America,
Asia-Pacific, and in other countries because the companies with carbon capture
and storage technologies can market their carbon dioxide to oil industries, which
also helps them to reduce greenhouse gases and receive possible tax breaks or
government grants.
This
research report analyzes this market depending on its market segments, major
geographies, and current market trends. Geographies analyzed under this research
report include
·
North
America
·
Asia
Pacific
·
Europe
·
Rest
of the World
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Market
growth drivers
·
Factors
limiting market growth
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Current
market trends
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Market
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Market
projections for upcoming years
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drivers, and restraints. It provides market projections for the coming years.
It includes analysis of recent developments in technology, Porter’s five force
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