Your Catalyst to a Lucrative Business
Microbial EOR (MEOR) Market Share, Size,Growth,
Segmenatation, Outlook and Forecasts to 2024 | Hexa Research
“ The global microbial enhanced oil recovery (MEOR) market is estimated to
be worth USD 1.32 billion by 2024.”
28 November 2018
The global microbial enhanced oil recovery (MEOR) market is estimated to be worth USD 1.32 billion by 2024 driven by
the depleting levels of recoverable crude oil in existing wells. The increasing depth at which crude oil can be extracted
coupled with the limited technology for direct extraction has paved the way for such advanced techniques.
Companies such as Titan, BP, and DuPont have been focusing on refining the technology owing to its several benefits
including low cost and compliance with environmental protection laws. Products patented by these companies is
expected to result in these companies gaining the leading position in the market over the next few years.
Several oilfields across the U.S., China, India, and Saudi Arabia have been implementing MEOR to optimize profits with
minimum set-up cost and fewer compliance violations. Several oilfields in North America have been applying the
technology making it the largest market in 2016 valued at over USD 650 million. Conducive environmental conditions
resulting in the maximum action of microbes and nutrients has led to the successful implantation of MEOR over the past
few years, and the dominating trend is expected to continue over the forecast period.
The mode of injection of microbes depends on the terrain surrounding the oilfield. For instance, cyclic microbial
recovery and microbial selective plugging are the most viable choices for MEOR in India, while microbial flooding
recovery shows zero effect on the wells in the country.
Browse Details of Report @ https://www.hexaresearch.com/research-report/microbial-enhanced-oil-recovery-
meor-market
Follow Us: