Enhanced Oil Recovery market is valued USD 55.9 billion in 2018 is anticipated to grow USD 94.6 billion with the compounded annual growth of 6.80% over the forecast period 2019-2026.
The global enhanced oil recovery (EOR) market is currently witnessing robust growth. Enhanced oil recovery (EOR), also known as tertiary recovery, refers to the process through which otherwise immobile residual oil is mobilized either physically, chemically or thermally. As primary and secondary oil recovery methods can leave up to 75% of the oil in the reservoir, oil extracting companies have started relying on EOR or tertiary oil recovery methods. Enhanced Oil Recovery industry is poised to raise USD 94.6 billion by 2026.
Over the past few years, the rapid depletion of fossil fuels has contributed to the increasing application of EOR technologies in the oil and gas industry. The rising demand for oil has further added to the growing demand for EOR worldwide. In addition, several governments around the world are taking initiatives for utilizing advanced technologies for oil extraction to achieve higher profits from existing oil and gas fields. For example, countries like China and India are offering financial incentives to attract multinational companies to invest in the enhanced oil recovery market.
Enhanced Oil Recovery Companies Market Segmentation:
Thermal-Enhanced Oil Recovery
Gas-Enhanced Oil Recovery
Chemical-Enhanced Oil Recovery
Other Enhanced Oil Recovery Techniques
BASF SE is a chemical company. The Company operates in six segments, including chemicals, plastics, performance products, functional solutions, agricultural solutions, and oil and gas. BASF offers products for the chemical, automotive, construction, agriculture, oil, plastics, electrical, electronics, furniture, and paper industries, and provides a range of system solutions and services.BASF is the largest chemical company in the world by chemical sales.
BASF is an acronym for Badische Anilin und Soda Fabrik (German for ''Baden Aniline and Soda Factory''). It was founded by Friedrich Engelhorn on 6 April 1865 in Mannheim, in the German-speaking country of Baden. Engelhorn had been responsible for setting up a gasworks and street lighting for the town council in 1861. The gasworks produced tar as a by-product, and Engelhorn used this for the production of dyes. BASF was set up in 1865 to produce other chemicals necessary for dye production, notably soda and acids. The plant, however, was erected on the other side of the Rhine river at Ludwigshafen, because the town council of Mannheim was afraid that the air pollution from the chemical plant could bother the inhabitants of the town. In 1866, the dye production processes were also moved to the BASF site.
Halliburton Company is an American multinational corporation. One of the world's largest oil field service companies, it has operations in more than 70 countries. It owns hundreds of subsidiaries, affiliates, branches, brands, and divisions worldwide and employs approximately 55,000 people.
The company has dual headquarters located in Houston and in Dubai, but it remains incorporated in the United States.
Halliburton's major business segment is the Energy Services Group (ESG). It offers a broad array of products and services to upstream oil and gas customers worldwide through fourteen product service lines: Artificial Lift, Cementing, Completion Tools, Multi-Chem, Pipeline & Process Services, Production Enhancement, Production Solutions, Baroid, Drill Bits & Services, Landmark Software & Services, Sperry Drilling, Testing & Subsea, Wireline & Perforating, and Consulting & Project Management. Halliburton's former subsidiary, KBR, is a major construction company of refineries, oil fields, pipelines, and chemical plants. Halliburton announced on April 5, 2007, that it had sold the division and severed its corporate relationship with KBR, which had been its contracting, engineering and construction unit as a part of the company.
Schlumberger is an oilfield services company. Schlumberger employs approximately 100,000 people representing more than 140 nationalities working in more than 120 countries. Schlumberger has four principal executive offices located in Paris, Houston, London, and The Hague.
Schlumberger was founded in 1926 by two brothers Conrad and Marcel Schlumberger from the Alsace region in France as the Electric Prospecting Company. The company recorded the first-ever electrical resistivity well log in Merkwiller-Pechelbronn, France in 1927. Today, Schlumberger supplies the petroleum industry with services such as seismic acquisition and processing, formation evaluation, well testing and directional drilling, well cementing and stimulation, artificial lift, well completions, flow assurance and consulting, and software and information management. The company is also involved in the groundwater extraction and carbon capture and storage industries.
National Aluminium Company Limited, abbreviated as NALCO, (incorporated in 1981) is a Navratna group ‘A’ CPSE having integrated and diversified operations in mining, metal and power under Ministry of Mines, Government of India. Presently, Government of India holds 52% equity of NALCO.
It is one of the largest integrated Bauxite-Alumina-Aluminium-Power Complex in the Country encompassing bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.
The Company is the lowest-cost producer of metallurgical grade alumina in the World and lowest-cost producer of Bauxite in the World as per Wood McKenzie report. With sustained quality products, the Company’s export earnings accounted for about 42% of the sales turnover in the year 2018-19 and the Company is rated as 3rd highest net export earning CPSE as per Public Enterprise Survey report.
To face the challenges of ever-evolving market and position the Company in a sustainable growth path, a new corporate plan has been developed with well-defined 3-year action plan, 7-year strategy & 15 years’ vision of being a Premier and Integrated Company in the Aluminium value chain with strategic presence in Mining both domestic & global, Metals and Energy sectors. The Corporate Plan has chalked out a roadmap for multifold growth in revenue and Profit by 2032.
As a responsive Corporate, the Company is harnessing renewable energy aligning to the ambitious programmes of Govt. of India. The Company has already commissioned 198 MW wind power plants and further 50 MW wind power plants are in pipeline, making it the highest producer of renewable energy among PSUs.
Xytel India, a subsidiary of Xytel Inc., USA, (the world leader in supply of pilot plants) is engaged in supply of skid-mounted/modular and fully automated Pilot/Mini Plants on turnkey basis. Xytel provides turnkey pilot plant solutions from concept to commissioning. Each of the systems we build begins as an idea, and must be carefully nurtured to its logical end. By efficiently adapting the customer’s process knowledge with its engineering expertise, Xytel has helped customers achieve their R & D success stories. Like any other project the key to success of Pilot Plant project is extensive basic & detailed engineering. We utilize our experience and process knowledge to scale up or scale down (As the situation demands) and deliver a reliable and efficient pilot plant as per the customer needs.
Xytel's exhaustive database and sound engineering practices plug the grey areas where codes & established design principles are seldom applicable.