Press Release

South America EOR Market to grow at CAGR 10% till 2022

Surging technological advancements, ageing crude oil fields and increasing recovery factor from conventional resources are expected to drive South America enhanced oil recovery market through 2022

According to a recently published TechSci Research report, South America Enhanced Oil Recovery Market By Onshore Vs. Offshore, By Type, Competition Forecast & Opportunities, 2012 – 2022, enhanced oil recovery market in South America is projected to exhibit a CAGR of over 10% during 2017-2022, on account of rise in number of maturing oil fields and high cost of exploration. Moreover, Brazil and Venezuela are driving demand for enhanced oil recovery methods in the region.  Brazil has been the largest crude oil consumer in the region. Consumption of crude oil in Brazil stood at 3.20 million barrels per day in 2016. Brazil accounted for a volume share of 44.37% in the total crude oil consumption in South America, witnessing a high growth of 1.48% in 2016 from 2015, which is forecast to rise over the coming years.

Browse 23 Figures spread through 72 Pages and an in-depth TOC on "South America Enhanced Oil Recovery Market"

https://www.techsciresearch.com/report/south-america-enhanced-oil-recovery-market-by-onshore-vs-offshore-by-type-thermal-miscible-gas-chemical-others-competition-forecast-opportunities/1020.html

Thermal EOR method controlled the largest share in South America enhanced oil recovery market in 2016, however the method’s share is expected to decline by 2022, due to shift towards usage of carbon dioxide methods of enhanced oil recovery in the region. The crude oil type found in the region has an API gravity higher than ~31⁰ and falls in the category of light oil types. Both thermal and gaseous methods are applicable for light type crude oil. Onshore application is anticipated to dominate the market with major operator “Wintershell” carrying out the EOR process in the onshore fields. Some of the prominent players operating in the market include The Halliburton Company, Schlumberger Limited, Baker Hughes Inc., Exxon Mobil Corporation, Chevron Corporation, ConocoPhillips Company, and Petroleo Brasileiro S.A (Petrobras)

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“Growing need to improve production of extra heavy crude oil, maturing oilfields, and high cost of exploration are forecast to propel enhanced oil recovery market in South America through 2022. Besides that, implementation of EOR methods for recovering oil from conventional resources are predicted to positively impact the market in the coming years. Brazil holds tremendous potential for heavy oil recovery through EOR methods and leads the market owing to availability of heavy oil reserves in the country.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.   

South America Enhanced Oil Recovery Market By Onshore Vs. Offshore, By Type, Competition Forecast & Opportunities, 2012 – 2022has evaluated the future growth potential of South America 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 South America enhanced oil recovery market.

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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.

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South America Enhanced Oil Recovery Market By Onshore Vs. Offshore, By Type (Thermal, Miscible Gas, Chemical & Others), Competition Forecast & Opportunities, 2012 – 2022

Oil and Gas | May, 2017

Surging technological advancements, ageing crude oil fields and increasing recovery factor from conventional resources are expected to drive South America enhanced oil recovery market through 2022

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