Global Enhanced Oil Recovery Market Forecast to 2023: Global Size, Share, Trends, Manufacturers

1. Market Research Future published research report on global Enhanced Oil Recovery market. The Enhanced Oil Recovery market size is expected to witness ~ 15.7% CAGR during the period 2018 to 2024. Market Highlights In the last decade, the oil and gas industry witnessed a decline in new due to a sharp drop in oil prices and the preference of energy shifting from oil to renewable sources of energy. To overcome the cost associated with new oil discoveries and reduce existing operational overhead costs, oilfield operators are looking for new techniques to boost oil production from existing wells. Moreover, 70% of the existing oil fields are nearing their operational lifetime or maturing, where oil extraction through primary and secondary methods will yield lesser oil than before. Enhanced oil recovery methods are expected to play a crucial role as they can enable oil extraction from mature oilfields. The global oil and gas industry is investing a lot in enhanced oil recovery methods as they are expected to play a key role in meeting the energy demands of the world. The enhanced oil recovery market, by is segmented into thermal, chemical, and microbial methods of oil recovery. By employing enhanced recovery methods, the oil and gas present deep down in the reservoirs get stimulated, and the fluids are then extracted. Global enhanced oil recovery market is projected to witness ~ 15.7% CAGR during the forecast period. Access Report Details @ https://www.marketresearchfuture.com/reports/enhanced-oil-recovery- market-5900 Market Research Analysis North America and Europe regions are expected to command a major market share By US EIA s, the U.S. is dominating the market for enhanced oil recovery processes. The country has several support legislatures and policies that support the use of enhanced oil recovery methods. Several oilfields in the Gulf of Mexico are rapidly reaching their operational lifetime and, thus, enhanced oil recovery methods are being implemented widely. Similarly, the European region is witnessing an increased implementation of oil recovery process due to rapidly maturing fields in the North Sea region. In the Middle East and Asia

2. Pacific, onshore wells are undergoing an increased implementation of oil recovery processes. Developing countries, such as India, Indonesia, and Malaysia, are expected to contribute to the growth of the market in the coming years. About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. Contact Info: Company Name: Market Research Future Email: sales@marketresearchfuture.com Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta, Road, Pune, India., Phone: +1 646 845 9312