Enhanced Oil Recovery Market in Middle East & Africa to Witness Double Digit Growth
Maturing oilfields, increasing adoption of tertiary
methods of oil recovery and high viscosity of crude oil present in the region are expected to drive the Middle East & Africa enhanced oil recovery
market through 2022
According to a recently published
TechSci Research report, “Middle
East & Africa Enhanced Oil Recovery Market By Onshore Vs. Offshore, By Type, Competition Forecast &
Opportunities, 2012 – 2022”, enhanced
oil recovery market in the MEA is projected to exhibit a CAGR of over 10%
during 2017-2022, on account of factors such as adaptability of tertiary methods of
oil recovery by some Arabic League nations. Moreover, year on year change in
energy consumption pattern and anticipated change in oil demand until 2022 are
further estimated to drive the market in the coming years. In 2016, Africa accounted for 129.10 billion
barrels of crude oil reserves, which represents 7.6% of the total crude oil
reserves, globally. In 2014, Africa exported 6.23 million barrels per day,
where West Africa stood as the major exporter of crude oil in the region,
followed by North, South & East Africa.
Browse 33 Figures spread through 77 Pages
and an in-depth TOC on "Middle
East & Africa Enhanced Oil Recovery Market"
https://www.techsciresearch.com/report/middle-east-africa-enhanced-oil-recovery-market-by-onshore-vs-offshore-by-type-thermal-miscible-gas-chemical-others-competition-forecast-opportunities/1013.html
In 2016, thermal EOR method captured
a lion’s share in the Middle East & Africa enhanced oil recovery market due
to its utilization in cases wherein crude oil has low API gravity and high
viscosity, however the method’s share is expected to decline by 2022. The
second largest share was held by miscible gas followed by chemical and others
in the same year. More than 80% of mature crude oilfields in the region are
located onshore and as a result are anticipated to aid the Middle East &
Africa onshore enhanced oil recovery market, whereas offshore EOR potential in the
MEA region is limited due to lack of technological advancements. Some of the prominent
players operating in
the market include Schlumberger Limited, BP
P.L.C., Saudi Aramco, Petroleum Development
Oman,
China National Offshore Oil Corporation, Linde AG and Abu Dhabi National Oil
Company.
Download
Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=1013
Customers can
also request for 10% free customization on this report.
“Maturing oilfields, surging adoption of tertiary
methods of oil recovery and implementation of feasibility studies
for oil production in the region through EOR are forecast to propel
enhanced oil recovery market in the MEA through 2022. Besides that, upcoming/ongoing
EOR projects are also likely to contribute to the market. Saudi Arabia leads the
market owing to availability of huge reserves, however
the country’s share is anticipated to decline by 2022.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Middle East & Africa Enhanced Oil Recovery Market By Onshore Vs.
Offshore, By Type, Competition Forecast & Opportunities, 2012 – 2022” has
evaluated the future growth potential of the Middle East & Africa enhanced oil recovery market and
provides statistics and information on market structure and trends. The report
is intended to provide cutting-edge market intelligence and help decision
makers take sound investment evaluation. Besides, the report also identifies
and analyzes emerging trends along with essential drivers, challenges and
opportunities available in the Middle
East & Africa enhanced oil recovery market.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium
market research reports. Serving 700 global clients with more than 600
premium market research studies, TechSci Research is serving clients across 11
different industrial verticals. TechSci Research specializes in research based
consulting assignments in high growth and emerging markets, leading
technologies and niche applications. Our workforce of more than 100 fulltime
Analysts and Consultants employing innovative research solutions and tracking
global and country specific high growth markets helps TechSci clients to lead
rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]