Business Opportunities Articles - EOR Enhanced Oil Recovery Worldwide

EOR Enhanced Oil Recovery Worldwide
Enhanced oil liberation (EOR), additionally referred to as softened oil liberation or tertiary oil recovery, is many often completed by injecting the glass or gas in to an oil reservoir, thereby obscure oil flexibility as good as augmenting the volume of oil accessible for production. Some of the some-more usual EOR methods embody CO2-EOR, thermal EOR as good as containing alkali EOR. Microbial EOR as good as seismic EOR additionally reason the clever niche in the EOR market. While usually about 10% - 30% of oil is typically extracted by compulsory oil prolongation processes, EOR methods can raise these liberation rates by an one some-more 5% to 20%, upon the regressive average. The tellurian marketplace for EOR, estimated during scarcely $62.5 billion (for barrels of wanton oil) for 2009, has shown sparkling expansion given 2005, when it totaled $3.1 billion. Technological challenges, misty regulations, as good as dear doing have often kept oil companies from regu! lating EOR. However, EOR is fast apropos some-more feasible, due to receiving flight supervision seductiveness as good as investment, brand brand new technologies, as good as augmenting accessibility of compulsory materials (such as CO2). It is approaching EOR will go upon to perform intensely good in the universe marketplace. The world's governments' seductiveness in EOR has been fueled by the series of factors, the many viewable being an enlarge in oil production. Besides augmenting oil revenue, countries which have been means to enlarge their oil prolongation have been often obscure their enlarge in direct for oil imports. There is additionally most expectation per the make make use of of CO2-EOR to seclude CO2 henceforth in the ground. It is estimated 130 billion tons of CO2 worldwide could potentially be prisoner by the make make use of of CO2-EOR, which would assistance to revoke industrial emissions, as good as in spin revoke hothouse gas emissions. Some governments ! have been additionally receiving note which EOR has the intens! ity to p ropel estimable mercantile growth. In Texas, where EOR right away accounts for 20% of the oil production, it is estimated the benefits of EOR prolongation will outcome in one some-more income of $200 billion as good as will emanate 1.5 million jobs. Many of the world's oil fields have gifted or have been experiencing the decrease in oil production; regulating EOR has the intensity to retreat this downward trend. Oman's chronological oil prolongation reflects this; in between 2001 as good as 2007 the oil prolongation fell by 27%, though by 2009, due often to EOR projects, oil prolongation augmenting by 17%. EOR Enhanced Oil Recovery Worldwide contains extensive chronological (2005-2009) as good as foresee (2010-2015) data; as well as EOR's share of altogether customary oil production, marketplace distance in conditions of barrels of oil, as good as dollar value. This inform identifies pass trends, regulations, brand brand new technologies, mercantile factors, environmental fa! ctors, as good as attention hurdles inspiring the citation as good as distance of marketplace growth, as good as discusses marketplace distance as good as expansion in assorted countries. Profiles of critical - or simply engaging - companies regulating EOR have been additionally included. Report MethodologyThe inform in EOR Enhanced Oil Recovery Worldwide is formed upon interpretation from supervision agencies, such as the U.S. Census Bureau, U.S. Department of Energy, as good as the Central Intelligence Agency; traffic associations; business, scholarship as good as law journals; association novel as good as websites; interviews with pass individuals; as good as from investigate services as good as institutes from around the world. How You Will Benefit from This ReportEOR Enhanced Oil Recovery Worldwide sum poignant trends, numbers, as good as technologies for the transparent general outlook of the formidable EOR market. This inform will help:• Managers brand marketplace ! opportunities as good as rise doing skeleton for EOR.• Resea! rch as g ood as expansion professionals stay upon tip of aspirant initiatives, as good as to try the ups as good as downs compared with EOR projects.• Advertising agencies operative with clients in the oil as good as appetite industries to assistance pattern suitable messages as good as images for the EOR market. • Business expansion management team assimilate the dynamics of the marketplace as good as brand probable partnerships. • Information as good as investigate core librarians entrance critical information.Table Of ContentsChapter 1: Executive SummaryMarket Scope Report MethodologyEOR Overview as good as Regulation Conventional Oil Recovery Leaves 70% of Oil in ReservoirEOR Regulations Still in Early Stage of Development Market Size as good as Growth Figure 1-1: Total EOR Market Value Worldwide, 2005-2009 (in billion $)EOR Share of Total Oil Market About 3.3% Figure 1-2: EOR Share of Total Oil Market Dollars, 2009 (in %)EOR Market Value Projected to Reach $1.3 Trillion by! 2015Figure 1-3: EOR Projected Growth Worldwide, in Dollar Value, 2009-2015 (in million $) EOR Around the WorldSaudi Arabia To Use CO2-EOR in World's Largest Oil Field Canada's Alberta Oil Fields Especially Suited for CO2-EOR Industry Advantages as good as HurdlesThe Price of Oil Has Reigns upon EOR Market Alternative Fuel Sources Become More Available Funding for EOR R&D Fueling Market GrowthNot All EOR Methods Suitable for All Oil Fields Current Technological AdvancesIndustrial Emissions of CO2 for EOR: Gasification TechnologyBrightwater® Reservoir Sweep Efficiency Technology Saudi Aramco Creating Microscopic Robots for EOR Monitoring Environmental Factors as good as Impact Carbon Capture Storage as good as Reducing Greenhouse GasesEnvironmentalists May Stifle EOR Progress AbbreviationsTable 1-1: Abbreviations Utilized in This Report Chapter 2: EOR Overview as good as Regulation Definition of EOR Conventional Oil Recovery Leaves 70% Oil in ReservoirThe Beginnings of EORPh! ases of Oil Recovery Primary RecoverySecondary Recovery Tertia! ry Recov ery Three Main Methods of EOR Other Methods of EOREOR Regulations Still in Early Stage of Development Increased Regulation as good as Market Growth Go Hand In HandThe Kyoto Protocol Carbon Emissions Trading Market Clean Development Mechanism Joint Implementation The United Nations Climate Change Conference in Copenhagen OPEC Aims to Coordinate as good as Unify Policies Among Countries Fragmented Land Ownership Can be A NightmareChapter 3: Market Size as good as Growth Total Oil Production Value Reached Nearly $1.9 Trillion in 2009Figure 3-1: Dollar Value of Total Worldwide Oil Production, 2005-2009 (in trillion $) Total Oil Production Jumps in 2008 Figure 3-2: Value of Total Worldwide Oil Production, in Barrels, 2005-2009 (in barrels) EOR Dollars Reach Nearly $62.5 Billion in 2009Figure 3-3: Total EOR Market Value Worldwide, 2005-2009 (in billion $)EOR Production Worldwide Nears 1.4 Billion Barrels in 2009 Figure 3-4: Total EOR Production Worldwide, in Barrels, 2005-2009 (in barrels) EOR Growth Compared to Total Oil Growth Figure 3-5: EOR Production Growth Compared to Total Oil Production Growth Worldwide, in Dollars, 2005-2009 (by % change)EOR Share of Total Oil Market About 3.3%Figure 3-6: EOR Share of Total Oil Market Dollars, 2009 (in %)EOR Share of Global Oil Output, by MethodFigure 3-7: Share of Global EOR Output, by Method, 2009 (in barrels) Worldw! ide Oil Production Projected to Continue Small ClimbFigure 3-8: Projected Total Oil Production Worldwide, in Barrels, 2009-2015 (in billion barrels) Projected Worldwide Growth for EOR Monumental Figure 3-9: Projected EOR Production Worldwide, in Barrels, 2009-2015 (in billion barrels) EOR Market Value Projected to Reach $1.3 Trillion by 2015Figure 3-10: EOR Projected Growth Worldwide, in Dollar Value, 2009-2015 (in million $) EOR Projected Growth, in Three Scenarios Figure 3-11: EOR Projected Growth Based upon Oil Price per Barrel, Three Scenarios, 2009-2015 (in million $) Table 3-1: EOR Projected Market Value in Dollars Based upon Oil Price per Barrel, in Three Scenarios, 2010-2015 (in billions)High Gas Prices Increase R & D Funding as good as Propel EOR Market Figure 3-12: EOR Projected Market Growth, as Influenced by Potential Revenue for the Oil Industry Based upon The Price of Oil, In Three Scenarios, 2009-2015 (barrels, in billions) Table 3-2: EOR Market Growth, as In! fluenced by Potential Revenue for the Oil Industry, Based upon! The Pri ce of Oil, 2009-2015 (percent expansion in dollars) EOR's Share Will Comprise One-third of Total Oil Market by 2015 Figure 3-13: Projected EOR Market Share Worldwide, 2015 (in barrels)Figure 3-14: Projected EOR Market Share Worldwide, Considering Low Oil Price Scenario, 2015 (in barrels) Figure 3-15: Projected EOR Market Share Worldwide, Considering High Oil Price Scenario, 2015 (in barrels) EOR Share Worldwide Figure 3-16: EOR Share Worldwide, by Country, 2009 (in barrels) Figure 3-17: EOR Production Worldwide, by Country, 2009 (in barrels)Countries New to EOR Change Market Share DramaticallyFigure 3-18: Projected EOR Worldwide Market Share of Production in Barrels, by Country, 2015 (in %)Table 3-3: Projected EOR Worldwide Market Share in Production of Barrels by Country, with Percent Change, 2009-2015 (in %) OR Has Potential to Increase Global Oil Recovery by 18.0%Figure 3-19: EOR's Potential Recovery, Compared to Conventional Methods Based upon 2009 Worldwide Proven Reser! ves (in barrels) EOR Potential as good as Proven Oil Reserves, by Country Figure 3-20: Potential EOR Production by Country Based upon 2009 Proven Oil Reserves, 2009 (barrels, in billions) Table 3-4: Potential Conventional Recovery as good as EOR Based upon Proven Oil Reserves, by Country, 2009 (barrels, in billions) Potential Reserves Estimated during 14.0 Trillion BarrelsFigure 3-21: Potential EOR Recovery, 2009 (in trillion barrels) EOR Equipment & ComponentsChapter 4: EOR Around the WorldUse of EOR Worldwide Saudi Arabia To Use CO2-EOR in World's Largest Oil FieldMature Oilfields in Russia Benefit from EORUnited States Favors CO2-EOR BRIEFClean Coal Power Initiative The Pipeline as good as Hazardous Materials Safety Administration EPA Proposes New Well Category as good as Regulations for EOR UIC Under Safe Drinking Water Act National Environmental Policy Act Tax Credit for CO2-EOR Sequestration in U.S. Iran Not Investing in EORChina Has Huge EOR PotentialBrazil Discovers! Large Offshore Oil FieldEOR in Mexico Has Helped to Slow Prod! uction D ecline Canada's Alberta Oil Fields Especially Suited For CO2-EOR Canada's Energy as good as Utility Board Alberta's Oil & Gas Conservation RegulationsUnited Arab Emirates Major Expansion ProgramEOR in Venezuela Has Potential to Add 40 Billion BarrelsEOR in Kuwait upon Hold Norway's EOR Production All Offshore Threats from Armed Rebels Slow Oil Production in Nigeria Algeria to Claim Roughly 2.4% of EOR Market Share by 2015Iraq Offers Production-Service Contracts to International CompaniesForeign Oil Companies Invest in Angola's Oil Fields Un-Sanctioned Libya Has Freedom to Move Forward U.K. to Increase Productivity of Mature Fields Through EORQatar Turns to EOR to Offset Anticipated Oil Declines EOR May Save Oman's Oil Production Syria Testing Cyclic-Steam EORChapter 5: Industry Advantages as good as HurdlesEOR Market Affects Global Economy Global Economy Influences EOR GrowthThe Price of Oil Has Reigns upon EOR Market Figure 5-1: The Historical Price of Oil, Worldwide Averag! e, 1980-2009 (in dollars per barrel)Demand for Oil Increasing Worldwide Table 5-1: Oil Consumption Compared to Production, Exports, as good as Imports, Selected Countries, 2008 (in millions of barrels per day) China Soon to Lead World in Energy ConsumptionFigure 5-2: Historical as good as Projected Energy Consumption, Selected Countries (in quadrillion BTUs, 1990-2030)High Demand for Petroleum Products Worldwide Stringent Regulations May Stifle EOR GrowthSome Say Up to 1.0 Trillion Barrels of Oil Yet Undiscovered "Easy" Oil Becoming Scarce Figure 5-3: Worldwide Oil Share, by Oil Type, 2010 Oily Sands the Hidden Gold MineOnly About One Quarter of World's Offshore Oil Produced Potential CO2-EOR Sequestration Equals Nearly 130 Billion TonsFigure 5-4: Anthropogenic Providers of CO2 for EOR Use, by Industry Type (Based upon tons) CO2 Industry Expanding Beyond EOR Non-EOR Storage Options Available For CO2 Increase in CO2 Pipelines Create Market StabilityCO2 Producers Join Forces ! with EOR IndustryEnhanced Energy as good as Agrium Sign CO2 Ag! reement Dow Chemical Provides CO2 to Denbury OnshoreHunton's Coke Gasification ‘Green' Energy Plant to Deliver CO2 SaskPower to Provide CO2 for EOR ProjectsRancher Signs CO2 Agreement with ExxonMobilBusiness Focuses upon Developing as good as Marketing EOR ChemicalsAlternative Fuel Sources Become More AvailableBioDiesel MethanolCorn Ethanol Cellulosic Biofuels Synthetic FuelsLiquid Coal Fuel BioFuel from AlgaeSolar Powered Cars Fuel from Clean Coal Technology Funding for EOR R&D Fueling Market Growth Canada's Government Funds Alberta's 240-Kilometer CO2 PipelineCanada Commits $3.4 Billion to Pengrowth's CO2-EOR ProjectAlberta Government Invests $271 Million in Gasification ProjectUnited Kingdom Supporting Large Scale Demonstration in CCSIncrease in EOR Schemes Leads to Job GrowthElectric Cars Decrease Petroleum DemandRise of the Automobile in BRIC CountriesEOR Helps Foster Energy Independence in U.SMaterial Costs of EOR Fluctuate Wildly Figure 5-5: Average CO2 Capture Cost, by Sou! rce (in tons)Primary Recovery Methods Become More AdvancedU.S. Oil Market Fears Obama's Proposals Commercial CCS in Coal Dependent Developing CountriesSome Countries Heavily Reliant upon Money from OilSuccess Stories DOE Sponsored Project Hits 1.0 Million-Ton Milestone for Injected CO2Saskatchewan's Largest Full Scale Study of CO2 Storage CO2-EOR Established Practice in Texas for More than 35 Years Wyoming's Salt Creek Field Under CO2 Flood Since 1986 EOR Industry's Growing Pains Not All EOR Methods Suitable for All Oil FieldsEOR Often Has Slow Implementation ProcessEOR Startup Costs Can Be HighEOR Not as Viable for Small ProducersEOR in Its Infancy: Unforeseen Hurdles Yet to ComePure CO2 from Natural Sources ScarceCO2 Pipelines Can Be High Maintenance Future Worth of CO2-EOR Sequestration Sites Should Not Be Overlooked Natural Disasters Unavoidable CO2 Can Be Corrosive to PipesPeak Oil - Reality Or Myth? Chapter 6: Current Technological Advances Industrial Emissions of CO2! for EOR: Gasification TechnologyClean Carbon Technology Clean! s up Coa l's Dirty ReputationMEOR Has Huge Potential, But Still Unreliable4-D High Resolution Seismic Monitoring3-D Seismic EOR Increases Production in SOME Wells Horizontal Drilling Adds 11,000 BOPD to Rajasthan Barmer FieldModifying CO2 Viscosity to Improve Reservoir SweepsBrightWater Reservoir Sweep Efficiency TechnologyPetroLuxus Solution Offers "Green" Option for Oil Wells Powerwave for Broader Distribution of CO2 Saudi Aramco Creating Microscopic Robots for EOR Monitoring Canada's Coal to Liquids CO2 Capture Project Dragon Uses KEP's Coriba Chemical Technology Kansai-Mitsubishi Carbon Dioxide Recovery ProcessWaterflood as good as Natural Gas in Alaska's Prudhoe Bay Acrylamide Demand in EOR Growing Nearly 5.0% Per Year Environmentally Friendly EncapSol NanotechnologyConoco Investing $400,000/Year for Nanotechnology Research Some Polymer Flooding Systems Increase Production by 40.0%Research for EOR Surfactants OngoingJoint Implementation of Vapor ExtractionWettability Alternation! PhenomenaChapter 7: Environmental Factors as good as Impact Increase in Oil Production Will Lead to Increase in EmissionsRoughly 83% of GHG Emissions have been from CO2 CO2 Emissions Worldwide Figure 7-1: Worldwide CO2 Emissions, Selected Countries (Based upon 2006 data, in megatons) Historic Emissions of CO2 Table 7-1: Historic CO2 Emissions, Selected Oil Producing Countries (1990-2006, in million metric tons) Projected Emissions of CO2 Figure 7-2: Projected CO2 Emissions, Selected Oil Producing Countries, 1990-2030 (in million tons) Carbon Capture Storage as good as Reducing Greenhouse GasesEPA Endangerment Finding in the United States the Threat to EORScientists Aim to Debunk Global WarmingCO2 Leakage May Compromise Integrity of EOR Projects Environmentalists On EOR Land PatrolGreenpeace Focuses upon Oilsands Mining Monetary Benefits May Outweigh Environmental Impact For Some in Alaska Environmentalists May Stifle EOR Progress Chapter 8: Company Strategies EOR Used Most! ly By Majors Saudi Arabian Oil CompanyTable 8-1: Saudi Arabian! Oil Com pany, ProfileCorporate Overview PerformancePortfolio EOR DevelopmentsPetroChina Company Limited Table 8-2: PetroChina Company Limited, Profile Overview Portfolio PerformanceEOR DevelopmentsExxon Mobil CorporationTable 8-3: Exxon Mobil Corporation, ProfileCorporate Overview PerformancePortfolio EOR DevelopmentsChevron Corporation Table 8-4: Chevron Corporation, ProfileCorporate Overview PerformancePortfolio EOR DevelopmentsRoyal Dutch Shell plc Table 8-5: Royal Dutch Shell plc, ProfileCorporate Overview PerformancePortfolio EOR DevelopmentsCairn Energy PLC Table 8-6: Cairn Energy PLC, Profile Corporate Overview PerformancePortfolio EOR DevelopmentsPenn West Energy Trust, IncorporatedTable 8-7: Penn West Energy Trust, Incorporated, ProfileCorporate Overview PerformancePortfolio EOR DevelopmentsStatoil ASA Table 8-8: Statoil ASA, ProfileCorporate Overview PerformancePortfolio EOR DevelopmentsEnhance Energy, IncorporatedTable 8-9: Enhance Energy, Incorporated , Profile Corporate! Overview PerformancePortfolio & EOR Developments