Oil & Gas Technology Report

Enhanced Oil Recovery - Thematic Research

Enhanced oil recovery helps extend the life of oil fields

The majority of oil fields only produce a fraction of the oil contained in the reservoir. Enhanced Oil Recovery (EOR) assists to maximize the oil reserves recovered, extend the life of fields, and increases the recovery factor through external input of chemicals or energy.

EOR is an important tool for firms helping to maintain production and increasing the returns on older investments but is often costly and uneconomic.

But when economical it can provide equivalent or lower cost barrels when compared to new greenfield developments. EOR will continue to be an important technology to increase the value of the late life assets and as new techniques evolve EOR will play a greater role in the global supply of oil.

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  • What you need to know...
  • CO2 flooding is one of the most widespread EOR techniques used in the oil and gas industry.
  • As the US is the largest consumer of energy, it has been the leading adopter of EOR technologies in the Americas for nearly four decades.
  • Europe has been at the forefront in the development and adoption of EOR techniques.
  • EOR will continue to be an important technology to increase the value of the late life assets and as new techniques evolve, EOR will play a greater role in the global supply of oil.

How is EOR performing?

The EOR process is currently witnessing rapid developments in the oil and gas industry. Over 70% of the oil fields around the world have reached or are nearing their maturity stage.

While demand for energy is growing, oil and gas production from several of these mature fields is declining each year.

Leading oil producing regions such as the Middle East and Russia are adopting EOR to ensure optimum oil supply to their customers.

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