Research and Markets: Global Enhanced Oil Recovery (EOR) Market 2015-2019 – EOR as a Method for Carbon Sequestration

Research and Markets (http://www.researchandmarkets.com/research/lqjfmj/global_enhanced) has announced the addition of the "Global Enhanced Oil Recovery (EOR) Market 2015-2019" report to their offering.

The global EOR market to grow at a CAGR of 16.93% during 2014-2019.

The report, Global EOR Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends emerging in the market. The report includes a discussion of the key vendors operating in this market.

CO2 is a GHG that causes large-scale environment degradation. Carbon sequestration is a process in which CO2 captured from various sources is pumped into deep subsurface rock formations for long-term storage. EOR is one of the most attractive methods for carbon sequestration as the geographical characteristics and behavior of reservoirs are well understood by oil and gas producing and service companies. In addition, the cost of CO2 injection is compensated by the sale of additional recovered oil.

According to the report, global consumption of oil and gas is continuously increasing because of the rise in population and per capita income. Increasing oil consumption coupled with diminishing production from mature fields are some of the major driving factors in the global EOR market. This technique is playing a key role in meeting the rising oil demand.

Further, the report states that the high capital costs associated with deployment of EOR projects is a big challenge that is expected to negatively impact the market, especially when oil prices are decreasing.

Key vendors

- ExxonMobil

- Royal Dutch Shell

- Chevron

- BP

- Total

Other prominent vendors

- Canadian Natural Resources

- Cenovus Energy

- China National Petroleum

- ConocoPhillips

- Denbury Resources

- Kinder Morgan

- Lukoil

- Nexen

- Occidental Petroleum

- Petróleos de Venezuela

- Petróleos Mexicanos

- Petrobras

- Petroleum Development Oman

- Suncor Energy

For more information visit http://www.researchandmarkets.com/research/lqjfmj/global_enhanced

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