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Report
South America Enhanced Oil Recovery Market By Technology (Gas Injection, Thermal Injection, Chemical Injection, Microbial Injection, Others), By Application (Onshore, Offshore), By Region, Competition Forecast and Opportunities, 2018-2028
Market Report (3 business days) I 2023-09-05 I 125 Pages I TechSci Research
South America Enhanced Oil Recovery Market is anticipated to grow at a steady pace in the forecast period, 2023-2028, due to factors including the rise in mature oil resources and advances in technology that will allow for better oil recovery methods.
Enhanced oil recovery, or EOR for short, is the process of extracting crude oil from an oil field when it cannot be done in any other way. When compared to primary and secondary recovery, which can only recover 20% to 40% of the oil from a reservoir, EOR can extract up to 60% more oil. The US Department of Energy states that in addition to the injection of carbon dioxide and water, one of the three EOR techniques-thermal injection, gas injection, or chemical injection-is utilized. Quaternary recovery refers to more advanced, speculative EOR techniques.
Rising Demand for Energy Security to Bolster the Market
Any country's ability to advance economically depends on the availability of hydrocarbons. However, the cost of energy rises due to the availability of finite sources, forcing countries with low oil reserves to invest exponentially in their oil imports. As a result, many nations throughout the world are using cutting-edge technologies to increase domestic production to meet the demand for oil, which is influencing market trends for Enhanced oil recovery. By securing its energy supply, the nation will become more powerful, and the outflow of foreign currency caused by oil imports will be decreased.
Unbounded Demand for Oil to Provide Impetus to Market
The demand for petroleum products has expanded because of the exponential growth in the consumption of oil across numerous industry sectors, including transportation, shipping, power, manufacturing, and others. Operators are adopting a variety of cutting-edge techniques to meet the rising demand for oil. EOR allows maximum oil recovery from the reservoir, increasing overall production. Additionally, by eliminating the drilling of a new well, it is expected to boost the market, optimizing the production cost.
Gradual Shift towards Optimizing Oil Recovery from Reservoirs Boost the Market
EOR allows for the extraction of a significant volume of oil that is immobile and lowers the expense of drilling new wells. The EOR technique is being used by several businesses in the US to reach the set production goals. To lessen the environmental harm caused by new drilling, governments all over the world are putting more emphasis on the ultimate recovery of oil. Additionally, as wells become more established, there will probably be a larger need for cutting-edge oil extraction techniques, which will greatly boost market value. Most of the oil produced in the world today originates from established fields. Oil corporations and regulators are highly concerned with increasing oil recovery from the aged resources. Additionally, during the past few decades, there has been a steady decline in the rate at which new discoveries are replacing the produced reserves. To fulfil the increasing demand for energy in the upcoming years, it will therefore be essential to raise the recovery factors from mature fields under primary and secondary production.
Market Segmentation
The South America Enhanced Oil Recovery Market is divided into Technology and Application. Based on Technology, the market is divided into Gas Injection, Thermal Injection, Chemical Injection, Microbial Injection, and Others. Based on Application, the market is segmented into Onshore, offshore. Based on country the market is divided into Brazil, Argentina, Colombia, Chile, Peru, Ecuador, Venezuela, Bolivia.
Market Players
Major market players in the South America Enhanced Oil Recovery Market are Halliburton Latin America S.R.L. (Ecuador), Schlumberger del Ecuador S.A., Baker Hughes of Mexico S. de R.L. de C.V., ExxonMobil Corporation, Arabian American Oil Company (ARAMCO), Petroleo Brasileiro SA, Equinor ASA, Chevron Corporation, China Petroleum & Chemical Corporation, BP p.l.c
Report Scope:
In this report, the South America Enhanced Oil Recovery Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- South America Enhanced Oil Recovery Market, By Technology:
o Gas Injection
o Thermal Injection
o Chemical Injection
o Microbial Injection
o Others
- South America Enhanced Oil Recovery Market, By Application:
o Onshore
o Offshore
- South America Enhanced Oil Recovery Market, By Country:
o Brazil
o Argentina
o Colombia
o Chile
o Peru
o Ecuador
o Venezuela
o Bolivia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the South America Enhanced Oil Recovery Market.
Available Customizations:
South America Enhanced Oil Recovery Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Impact of COVID-19 on South America Enhanced Oil Recovery Market Outlook
4. Executive Summary
5. Voice of Customers
6. South America Enhanced Oil Recovery Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Technology (Gas Injection, Thermal Injection, Chemical Injection, Microbial Injection, and Others)
6.2.2. By Application (Onshore and Offshore)
6.2.3. By Country (Brazil, Argentina, Colombia, Chile, Peru, Ecuador, Venezuela, Bolivia)
6.3. By Company (2022)
6.4. Market Map
7. Brazil Enhanced Oil Recovery Market Outlook
7.1. Brazil Economic Profile
7.2. Market Size & Forecast
7.2.1. By Value
7.3. Market Share & Forecast
7.3.1. By Technology
7.3.2. By Application
7.4. Brazil Energy Outlook
7.4.1. Brazil Primary Energy Consumption
7.4.2. Brazil Oil Production
7.4.3. Brazil Oil Consumption
7.4.4. Brazil Natural Gas Production
7.5. Brazil Rig Count Outlook
8. Argentina Enhanced Oil Recovery Market Outlook
8.1. Argentina Economic Profile
8.2. Market Size & Forecast
8.2.1. By Value
8.3. Market Share & Forecast
8.3.1. By Technology
8.3.2. By Application
8.4. Argentina Energy Outlook
8.4.1. Argentina Primary Energy Consumption
8.4.2. Argentina Oil Production
8.4.3. Argentina Oil Consumption
8.4.4. Argentina Natural Gas Production
8.5. Argentina Rig Count Outlook
9. Colombia Enhanced Oil Recovery Market Outlook
9.1. Colombia Economic Profile
9.2. Market Size & Forecast
9.2.1. By Value
9.3. Market Share & Forecast
9.3.1. By Technology
9.3.2. By Application
9.4. Colombia Energy Outlook
9.4.1. Colombia Primary Energy Consumption
9.4.2. Colombia Oil Production
9.4.3. Colombia Oil Consumption
9.4.4. Colombia Natural Gas Production
9.5. Colombia Rig Count Outlook
10. Chile Enhanced Oil Recovery Market Outlook
10.1. Chile Economic Profile
10.2. Market Size & Forecast
10.2.1. By Value
10.3. Market Share & Forecast
10.3.1. By Technology
10.3.2. By Application
10.4. Chile Energy Outlook
10.4.1. Chile Primary Energy Consumption
10.4.2. Chile Oil Production
10.4.3. Chile Oil Consumption
10.4.4. Chile Natural Gas Production
10.5. Chile Rig Count Outlook
11. Peru Enhanced Oil Recovery Market Outlook
11.1. Peru Economic Profile
11.2. Market Size & Forecast
11.2.1. By Value
11.3. Market Share & Forecast
11.3.1. By Technology
11.3.2. By Application
11.4. Peru Energy Outlook
11.4.1. Peru Primary Energy Consumption
11.4.2. Peru Oil Production
11.4.3. Peru Oil Consumption
11.4.4. Peru Natural Gas Production
11.5. Peru Rig Count Outlook
12. Ecuador Enhanced Oil Recovery Market Outlook
12.1. Ecuador Economic Profile
12.2. Market Size & Forecast
12.2.1. By Value
12.3. Market Share & Forecast
12.3.1. By Technology
12.3.2. By Application
12.4. Ecuador Energy Outlook
12.4.1. Ecuador Primary Energy Consumption
12.4.2. Ecuador Oil Production
12.4.3. Ecuador Oil Consumption
12.4.4. Ecuador Natural Gas Production
12.5. Ecuador Rig Count Outlook
13. Venezuela Enhanced Oil Recovery Market Outlook
13.1. Venezuela Economic Profile
13.2. Market Size & Forecast
13.2.1. By Value
13.3. Market Share & Forecast
13.3.1. By Technology
13.3.2. By Application
13.4. Venezuela Energy Outlook
13.4.1. Venezuela Primary Energy Consumption
13.4.2. Venezuela Oil Production
13.4.3. Venezuela Oil Consumption
13.4.4. Venezuela Natural Gas Production
13.5. Venezuela Rig Count Outlook
14. Bolivia Enhanced Oil Recovery Market Outlook
14.1. Bolivia Economic Profile
14.2. Market Size & Forecast
14.2.1. By Value
14.3. Market Share & Forecast
14.3.1. By Technology
14.3.2. By Application
14.4. Bolivia Energy Outlook
14.4.1. Bolivia Primary Energy Consumption
14.4.2. Bolivia Oil Production
14.4.3. Bolivia Oil Consumption
14.4.4. Bolivia Natural Gas Production
14.5. Bolivia Rig Count Outlook
15. Market Dynamics
15.1. Drivers
15.2. Challenges
16. Market Trends & Developments
17. Policy & Regulatory Landscape
18. Company Profiles
18.1. Halliburton Latin America S.R.L. (Ecuador)
18.1.1. Business Overview
18.1.2. Key Revenue and Financials (If Available)
18.1.3. Recent Developments
18.1.4. Key Personnel
18.1.5. Key Product/Services
18.2. Schlumberger del Ecuador S.A.
18.2.1. Business Overview
18.2.2. Key Revenue and Financials (If Available)
18.2.3. Recent Developments
18.2.4. Key Personnel
18.2.5. Key Product/Services
18.3. Baker Hughes of Mexico S. de R.L. de C.V.
18.3.1. Business Overview
18.3.2. Key Revenue and Financials (If Available)
18.3.3. Recent Developments
18.3.4. Key Personnel
18.3.5. Key Product/Services
18.4. ExxonMobil Corporation
18.4.1. Business Overview
18.4.2. Key Revenue and Financials (If Available)
18.4.3. Recent Developments
18.4.4. Key Personnel
18.4.5. Key Product/Services
18.5. Arabian American Oil Company (ARAMCO)
18.5.1. Business Overview
18.5.2. Key Revenue and Financials (If Available)
18.5.3. Recent Developments
18.5.4. Key Personnel
18.5.5. Key Product/Services
18.6. Petroleo Brasileiro SA
18.6.1. Business Overview
18.6.2. Key Revenue and Financials (If Available)
18.6.3. Recent Developments
18.6.4. Key Personnel
18.6.5. Key Product/Services
18.7. Equinor ASA
18.7.1. Business Overview
18.7.2. Key Revenue and Financials (If Available)
18.7.3. Recent Developments
18.7.4. Key Personnel
18.7.5. Key Product/Services
18.8. Chevron Corporation
18.8.1. Business Overview
18.8.2. Key Revenue and Financials (If Available)
18.8.3. Recent Developments
18.8.4. Key Personnel
18.8.5. Key Product/Services
18.9. China Petroleum & Chemical Corporation
18.9.1. Business Overview
18.9.2. Key Revenue and Financials (If Available)
18.9.3. Recent Developments
18.9.4. Key Personnel
18.9.5. Key Product/Services
18.10. BP p.l.c
18.10.1. Business Overview
18.10.2. Key Revenue and Financials (If Available)
18.10.3. Recent Developments
18.10.4. Key Personnel
18.10.5. Key Product/Services
19. Strategic Recommendations
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