Chemical EOR is a form of tertiary recovery, used to try to increase the amount of oil produced from a field. Chemicals, such as polymers, surfactants, and alkali’s etc., are injected into an oilfield. The properties of these chemicals lead to a greater amount of oil being produced in comparison to just traditional production. The global chemical enhanced oil recovery (cEOR) market is anticipated to expand significantly over the next decade, driven by tightening oil supply and increasing demand. Enhanced oil recovery techniques serve to lengthen the lifecycle of mature oil fields which already account for about 70% of global oil production.
Chemical EOR Market Definition
This report provides forecasts for both the production from chemical EOR projects and the spending for chemical EOR projects. Production is presented in barrels per day, and accounts for the incremental production levels as a result of chemical EOR implementation.
Spending is presented in dollars ($). Spending accounts for both operational and capital expenditure of projects, as well as for R&D. This can include, but is not restricted to, spending awarded from governments for research, pilot project development from initial surveys through to implementation, infrastructure costs and facility construction, as well as the cost of injection.