Report Description

Middle East Enhanced Oil Recovery Market is anticipated to grow at a steady pace in the forecast period, 2023-2028. The exponential expansion in oil consumption across a variety of industries including transportation, shipping, electricity, manufacturing, and others, has increased demand for petroleum products. To fulfill the increased demand for oil, operators are employing a few cutting-edge technologies. Enhanced Oil Recovery (EOR) maximizes oil recovery from the reservoir, improving overall output. Furthermore, by avoiding the drilling of a new well, which is projected to enhance the market, the production cost is reduced.

EOR techniques are classified into three types: gas injection, heat injection, and chemical injection. Gas injection, which employs gases such as natural gas, nitrogen, or carbon dioxide (CO2), accounts for roughly 60% of EOR output. The most widely employed technique in improved oil recovery is gas injection or miscible flooding. Miscible flooding refers to injection procedures that use miscible gases in the reservoir. Various technologies are employed in this approach to heat the crude oil in the formation to reduce its viscosity and/or evaporate portion of the oil, lowering the mobility ratio. Cyclic steam injection, steam flooding, and combustion are all methods. These strategies increase the sweep and displacement efficiency.

Increasing Demand for Energy Security to Boost the Middle East Enhanced Oil Recovery Market

The Middle East has long been the center of the world oil market, with 810 billion barrels of known reserves (50 percent of global total) and 28 million barrels per day of output (30 percent of global total). The Middle East today consumes roughly 33% of the oil it produces, up from 20% in 2000. The total population is around 260 million, with a 2.2% annual growth rate. A barrel of oil may be extracted for as little as USD5 in Saudi Arabia. Furthermore, massive oil subsidies stimulate demand while promoting wasteful behavior. Due to which the market of middle east enhanced oil recovery is rising rapidly.

Qatar Energy has awarded Samsung C&T an EPC contract for its industrial cities’ solar power project (IC Solar), which comprises the construction of two large-scale PV solar power plants in Qatar's industrial towns. The project is Qatar Energy Renewable Solutions' first investment, and it will invest in and hold Qatar's renewables and other sustainable efforts in the future.

Companies are working hard to improve output from existing fields that have reached their maximum production capacity to meet increased demand for oil and gas. According to the findings of a company’s study, mature fields account for around 70% of oil and gas output. As a result, these businesses are now concentrating their efforts on boosting recovery and prolonging the life of older fields utilizing EOR technology. As a result, they are outpacing output, raising market demand for more oil recovery.

Gradual shift towards optimizing oil recovery from reservoirs and upcoming projects of oil and gas

In 2021, the Middle East consumed 374.9 million metric tons of oil, a 3.7 percent increase over the previous year. Figures increased by 211 million metric tons throughout the study period, culminating at 401.7 million metric tons in 2018. There was a rise in global oil usage as of 2021. In comparison, oil consumption in Europe increased by 5.2 percent. Hence, the Middle East Enhanced oil recovery market is expected to grow with a high CAGR in the forecast period. Since,  oil consumption is rising in middle east countries hence the demand for EOR is also growing rapidly.

Large amounts of generated water are frequently pumped to the surface by enhanced oil recovery wells. This water includes brine, as well as harmful heavy metals and radioactive compounds. If not adequately regulated, this may be extremely harmful to drinking water supplies and the ecosystem in general. By injecting generated water far down, disposal wells prevent surface pollution of soil and water, and these factors are restraining the market growth.


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Market Segmentation

The Middle East Enhanced Oil Recovery Market is divided into technology, application, country and competitive landscape. Based on Technology, the market is segmented into gas, thermal, chemical, microbial, others. Based on Application, the market is segmented into Offshore, Onshore. Based on country the market is divided into Saudi Arabia, UAE, Qatar, Kuwait, Bahrain and rest of Middle East.

Market Players

Major market players in the Middle East Enhanced Oil Recovery Market are Schlumberger Limited, BP P.L.C., Saudi Aramco, Petroleum Development Oman, China National Offshore Oil Corporation, Linde AG and Abu Dhabi National Oil Company, SGS SA, Kemira Oyj, Linde Plc.

 

Recent Developments

In December, the Middle East's lowest Upstream Methane Intensity objective of 0.15 percent by 2025 has been set by ADNOC. The state-owned company claimed that it has earned OGMP 2.0 Gold Standard certification under the Oil and Gas Methane Partnership 2.0 (OGMP 2.0) since it has provided high-quality data and an effective strategy to meet its objective for methane emissions. Petrochemicals will also be crucial in the diversification goals. TA'ZIZ was established in Abu Dhabi to strengthen the UAE's position as a regional center for chemical production and specialized chemical manufacturing. This project especially offers foreign investment in chemicals industries.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Technology

By Application

By Country

Regional scope

Saudi Arabia, UAE, Qatar, Kuwait, Bahrain and rest of Middle East.

Key companies profiled

Schlumberger Limited, BP P.L.C., Saudi Aramco, Petroleum Development Oman, China National Offshore Oil Corporation, Linde AG and Abu Dhabi National Oil Company, SGS SA, Kemira Oyj, Linde Plc

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Middle East Enhanced Oil Recovery Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

      ·         Middle East Enhanced Oil Recovery Market, By Technology:

o   Gas

o   Thermal

o   Chemical

o   Microbial

o   Others

      ·         Middle East Enhanced Oil Recovery Market, By Application:

o   Offshore

o   Onshore

      ·         Middle East Enhanced Oil Recovery Market, By Country:

o   Saudi Arabia

o   UAE

o   Qatar

o   Kuwait

o   Bahrain

o   Rest of Middle East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Middle East Enhanced Oil Recovery Market.

Available Customizations:

 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).

Middle East Enhanced Oil Recovery Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.3.  Markets Covered

1.4.  Years Considered for Study

1.4.1.           Key Market Segmentations

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.    Executive Summary

4.    Impact of COVID-19 on Middle East Enhanced Oil Recovery Market

5.    Voice of Customers

5.1.  Brand Awareness

5.2.  Key Factors for Selecting Vendor

5.3.  Key Satisfaction Level

5.4.  Key Challenges faced.

6.    Middle East 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, Thermal, Chemical, Microbial, Others)

6.2.2.    By Application (Offshore, Onshore)

6.2.3.    By Country (Saudi Arabia, UAE, Qatar, Kuwait, Bahrain and Rest of Middle East)

6.3.  By Company (2022)

6.4.  Market Map

7.    Saudi Arabia Enhanced Oil Recovery Market Outlook

7.1.  Saudi Arabia 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.  Saudi Arabia Energy Outlook

7.4.1.    Saudi Arabia Primary Energy Consumption

7.4.2.    Saudi Arabia Oil Production

7.4.3.    Saudi Arabia Oil Consumption

7.4.4.    Saudi Arabia Natural Gas Production

7.5.  Saudi Arabia Rig Count Outlook

8.    UAE Enhanced Oil Recovery Market Outlook

8.1.  UAE 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.  UAE Energy Outlook

8.4.1.    UAE Primary Energy Consumption

8.4.2.    UAE Oil Production

8.4.3.    UAE Oil Consumption

8.4.4.    UAE Natural Gas Production

8.5.  UAE Rig Count Outlook

9.    Qatar Enhanced Oil Recovery Market Outlook

9.1.  Qatar 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.  Qatar Energy Outlook

9.4.1.    Qatar Primary Energy Consumption

9.4.2.    Qatar Oil Production

9.4.3.    Qatar Oil Consumption

9.4.4.    Qatar Natural Gas Production

9.5.  Qatar Rig Count Outlook

10. Kuwait Enhanced Oil Recovery Market Outlook

10.1.             Kuwait 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.             Kuwait Energy Outlook

10.4.1. Kuwait Primary Energy Consumption

10.4.2. Kuwait Oil Production

10.4.3. Kuwait Oil Consumption

10.4.4. Kuwait Natural Gas Production

10.5.   Kuwait Rig Count Outlook

11. Bahrain Enhanced Oil Recovery Market Outlook

11.1.             Bahrain 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.             Bahrain Energy Outlook

11.4.1. Bahrain Primary Energy Consumption

11.4.2. Bahrain Oil Production

11.4.3. Bahrain Oil Consumption

11.4.4. Bahrain Natural Gas Production

11.5.             Bahrain Rig Count Outlook

12. Market Dynamics

12.1.             Drivers

12.2.             Challenges

13. Total Number of Rig Count in Middle East

14. Economic Profile

15. Oil Consumption

16. Company Profiles

16.1.             Schlumberger Limited,

16.1.1. Business Overview

16.1.2. Key Revenue and Financials (If Available)

16.1.3. Recent Developments

16.1.4. Key Personnel

16.1.5. Key Product/Services

16.2.             BP P.L.C

16.2.1. Business Overview

16.2.2. Key Revenue and Financials (If Available)

16.2.3. Recent Developments

16.2.4. Key Personnel

16.2.5. Key Product/Services

16.3.             Saudi Aramco

16.3.1. Business Overview

16.3.2. Key Revenue and Financials (If Available)

16.3.3. Recent Developments

16.3.4. Key Personnel

16.3.5. Key Product/Services

16.4.             Petroleum Development Oman

16.4.1. Business Overview

16.4.2. Key Revenue and Financials (If Available)

16.4.3. Recent Developments

16.4.4. Key Personnel

16.4.5. Key Product/Services

16.5.             China National Offshore Oil Corporation

16.5.1. Business Overview

16.5.2. Key Revenue and Financials (If Available)

16.5.3. Recent Developments

16.5.4. Key Personnel

16.5.5. Key Product/Services

16.6.             Linde AG

16.6.1. Business Overview

16.6.2. Key Revenue and Financials (If Available)

16.6.3. Recent Developments

16.6.4. Key Personnel

16.6.5. Key Product/Services

16.7.             Abu Dhabi National Oil Company

16.7.1. Business Overview

16.7.2. Key Revenue and Financials (If Available)

16.7.3. Recent Developments

16.7.4. Key Personnel

16.7.5. Key Product/Services

16.8.             SGS SA

16.8.1. Business Overview

16.8.2. Key Revenue and Financials (If Available)

16.8.3. Recent Developments

16.8.4. Key Personnel

16.8.5. Key Product/Services

16.9.             Kemira Oyj

16.9.1. Business Overview

16.9.2. Key Revenue and Financials (If Available)

16.9.3. Recent Developments

16.9.4. Key Personnel

16.9.5. Key Product/Services

16.10.          Linde Plc

16.10.1.              Business Overview

16.10.2.              Key Revenue and Financials (If Available)

16.10.3.              Recent Developments

16.10.4.              Key Personnel

16.10.5.              Key Product/Services

17. Strategic Recommendations

About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The main players in the Middle East Enhanced Oil Recovery Market are Schlumberger Limited, BP P.L.C., Saudi Aramco, Petroleum Development Oman, China National Offshore Oil Corporation, Linde AG and Abu Dhabi National Oil Company, SGS SA, Kemira Oyj, Linde Plc.

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Demand for petrol is rising rapidly in the future and due to which the global market for enhanced oil recovery is expected to grow with a high CAGR.

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Saudi Arabia is the fastest growing country in oil production in the region. The proven reserves of Saudi Arabia are 221.2 times greater than its every year usage. As a result, there would be around 221 years' worth of oil left without Net Exports (at current consumption levels and excluding unproven reserves). Moreover, latest projects are coming in the location and top players are focusing towards EOR method.

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Enhanced oil Recovery has a method to enhance the quantity of crude oil extracted from an oil field. The usual method is to create pressure by pumping gas or water into a reservoir in order to push the fossil fuel out of the rock.

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Parvati Sharma

Account Manager BD
Press Release

Middle East Enhanced Oil Recovery Market to be Dominated by the Onshore Segment in the Forecast Period

May, 2023

Rising demand for oil and gas & technological advancement in thermal/chemical flooding are the factors fueling the Middle East Enhanced Oil Recovery Market growth in the forecast period.