Microbial Enhanced Oil Recovery Market Research Report- Forecast to 2022
Microbial Enhanced Oil Recovery Market ANALYSIS
REPORT | CAGR 20% BY 2022
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Copyright © 2018 Market Research Future.
Microbial Enhanced Oil Recovery Market Research Report- Forecast to 2022
1 Summary Microbial Enhanced Oil Recovery (MEOR) is the process of employing microorganisms and their metabolites to recover the residual oil from of the oil reservoir. The process is typically carried out either by injecting micro-organisms into the reservoir, or an existing population of microorganism in the reservoir can be enriched by the injection of nutrients preferred by that microorganism. Globally, there are many ageing oil and gas infrastructure wells in which residual oil remains to be extracted. Conventional methods used to recover oil from reservoirs leave the majority of oil in place. MEOR operations are employed for their low economic cost, enhanced recovery and less impact on the environment when compared with the conventional methods. They are also used on both onshore and offshore oil recovery along with applications such as corrosion control and prevention of well sourcing.
Key Players: The key players of Global Microbial Enhanced Oil Recovery Markets are Statoil ASA (Norway), BP (U.K), Titan Oil Recovery, Inc. (U.S), Chemiphase Ltd, (U.K), Genome Prairie (Canada), Glori Energy Inc.(U.S), and E. I. du Pont de Nemours and Company (U.S.).
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Copyright Š 2018 Market Research Future.
Microbial Enhanced Oil Recovery Market Research Report- Forecast to 2022
2 Market Overview The growth of the MEOR market is majorly driven by increased aging oil and gas reservoirs around the world. The MEOR process in low cost and extremely environmental friendly in recovering the oil when compared to traditional counterparts. The market is further driven by the requirement to meet climate change targets and the obligation to reduce CO2 emissions from the reservoir operations. Recent decrease in crude oil prices have further enabled global oil and gas exploration companies to adopt to using MEOR. However, the growth of this market can be restrained by the cost of the degradation of oil in reservoir, bacterial corrosion and constant development that is needed to update the technology.
Intended Audience:
Distributer & Supplier companies End Users Consultants and Investment bankers Government as well as Independent Regulatory Authorities
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Copyright © 2018 Market Research Future.
Microbial Enhanced Oil Recovery Market Research Report- Forecast to 2022
3 Market Segmentation: -
Market Research Analysis: Currently, North America is expected to maintain its high market for MEOR process. This is mainly due to the fact that many operational trials and projects have been carried out in the region specifically in U.S. and Canada. Similarly, Middle East & Africa remains a very significant market since it comprises of many aging oil wells due to high level of oil extraction activities in the region over the past decade. The export of oil and gas to the from the Middle East countries to Asia-Pacific countries such as China and India where the demand for energy and fuel is high is driving the market for enhanced oil recovery. In the same way, the marker is expected to be driven by the oil recovery projects in European regions.
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Copyright Š 2018 Market Research Future.
Microbial Enhanced Oil Recovery Market Research Report- Forecast to 2022
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Copyright Š 2018 Market Research Future.