MEOR Market Growing with Increased Usage of Microbes for Oil Recovery Oct 2016 | Page 3

Global Microbial Enhanced Oil Recovery Market: Opportunities and Forecasts (2016-2021) The Microbial Enhanced Oil Recovery market report speaks about the offshore and onshore allocation of the market share wherein rise in the offshore explorations in MEOR at Norway, Malaysia and United States would drive the market in the offshore oil and gas industry. Moreover, the percentage share of the onshore market is anticipated to decline but would still be higher than offshore market until the year 2021. According to Microbial Enhanced Oil Recovery market report “Microbial Enhanced Oil Recovery Market: Opportunities and Forecasts (2016-2021)”, MEOR Market is forecasted to grow at a CAGR of 17.37% during 2016 – 2021F, on account of increased activities in exploration and production activities in the oil and gas sector along with rise in number MEOR projects and field trails in various nations across the globe. Decline in crude oil prices have brought some major economic benefits for nations which has re-structured the oil and gas industry and the market for Microbial Enhanced Oil Recovery. North American market has been a dominating region during 2016-2021E because of an extensive MEOR project & field trials implementation followed by Europe while Asia Pacific will have the highest CAGR along with Middle East & Africa. The oil and gas industry in North American market holds the highest share by region having a -1.26 % CAGR from 2011-2015 followed by European Market and Middle East & African Market, respectively. Request sample copy of report at http://www.reportsnreports.com/contacts/requestsample.aspx?name=713080. Order this report by calling [phone] or Send an email to [email protected] with your contact details and questions if any. © ReportsnReports.com / Contact [email protected] 3