Energy & Power Industry Reports Enhanced Oil Recovery (EOR) Market Size

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Enhanced Oil Recovery (EOR) Market Share, Size, Analysis,
Growth, Strategies, Trends and Forecasts to 2025 | Hexa Research
"Enhanced Oil Recovery (EOR) Market Worth USD
55.02 Billion By 2025"
The global Enhanced Oil Recovery (EOR) Market size is estimated to reach USD 55.02 billion by 2025, fueled
by the increasing demand for energy in a broad range of applications including manufacturing, infrastructure
and utilities. Rising number of aged wells resulting in low oil output has paved the way for advanced
technologies including EOR to achieve optimum production.
Keeping these driving factors in mind, companies are focusing on developing advanced technologies to
extract more oil from existing wells rather than erecting new wells. For instance, in June 2014, Statoil ASA
opened its new research & development center for improved oil recovery at Rotvoll in Trondheim, mid -
Norway.
BP, a producer of energy and EOR, launched the concept of “Bright Water”, which is a thermally activated
microscopic particle that increases oil recovery by directing water into potentially untapped oil -rich areas.
Since its inception, the technology has undergone several modifications to make it suitable for every type of
terrain and age of the well.
Browse Details of Report @ https://www.hexaresearch.com/research-report/enhanced-oil-recovery-eor-
market
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