Market Research Future published a Half Cooked research report on “Global Microbial Enhanced Oil Recovery Market Research Report – Forecast to 2022 ” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022
Statoil ASA (Norway), BP (U.K), Titan Oil Recovery, Inc. (U.S), Chemiphase Ltd, (U.K), Genome Prairie (Canada), Glori Energy Inc.(U.S), and E. I. du Pont de Nemours and Company (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Microbial Enhanced Oil Recovery Market.
Microbial Enhanced Oil Recovery Global Market – Overview
The Global Microbial Enhanced Oil Recovery Market has witnessed a stagnant growth in the past few years and it has been anticipated that the market will grow at the phenomenal pace during the forecast period. The increasing global demand for energy and fuel have resulted in increased E&P investment in oil and gas exploration around the world. However, there are many aging oil and gas infrastructure projects from which there is a possibility to extract more oil. Conventional methods used for extraction of oil have very serious environmental concerns and also they are expensive. The other cost effective way of recovering residual oil from aging oil and gas reservoirs is the microbial enhanced oil recovery technique. It is an enhanced recovery process in which microorganisms are used in a reservoir to improve oil recovery. As per the study conducted by Market Research Future, the global market for microbial enhanced oil recovery is likely to grow at the CAGR of around 20%.
Microbial Enhanced Oil Recovery (MEOR) is the process of employing microorganisms and their metabolites to recover the residual oil from of the oil reservoir. The process is typically carried out either by injecting micro-organisms into the reservoir, or an existing population of microorganism in the reservoir can be enriched by the injection of nutrients preferred by that microorganism. Globally, there are many ageing oil and gas infrastructure wells in which residual oil remains to be extracted. Conventional methods used to recover oil from reservoirs leave the majority of oil in place. MEOR operations are employed for their low economic cost, enhanced recovery and less impact on the environment when compared with the conventional methods. They are also used on both onshore and offshore oil recovery along with applications such as corrosion control and prevention of well sourcing.
Titan Oil Recovery, Inc. developed The Titan Process is a new direction in enhanced oil recovery technology. It is a breakthrough in low cost, no capital required oil recovery. It is organic oil recovery offering oil operators an advanced, state-of-the-art secondary and tertiary oil recovery technology. Combining petroleum engineering and breakthrough biotechnology, the Titan Process produces more oil, lowers lifting cost and allows the optimization of a field’s potential. The Titan Process provides field operators with an improved return-on-expenditure and an opportunity to certify additional reserves as a result of expanded field treatments. About 65% of the world’s oil is trapped in the existing oil fields. The Titan Process with their micro-droplet technology can recover a substantial amount of the world’s trapped oil.
Geographically, the global microbial enhanced oil recovery market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these regions, there is an increasing market for MEOR process in the Middle East and North Africa region where there are many aging oil infrastructures are nearing the end of their operational life span. Decreased oil prices and growing demand for oil is driving the investment in MEOR projects which are also environmentally safe. The market is further expected to be driven by recent researches that suggests that at least 50% of oil rigs in North American region especially in U.S. and Canada are suitable for MEOR. This region is expected to maintain its highest market share owing to numerous field trials and projects being conducted. The Asia-Pacific region is dominated by the energy imports from countries such as China and India who are net importers of oil and gas for their internal use. The demand for oil in the region is driving the market for MEOR process.
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In November, 2017 – Genome Canada announced five new projects that will receive funding under the Genome Canada and Social Science and Humanities Research Council (SSHRC) Joint Initiative on Societal Implications of Genomics Research. The overall objective of the Genome Canada-SSHRC joint initiative is to support social sciences and humanities research and related activities that will enrich our understanding of the societal implications of genomic research.
In March, 2017 – E I Du Pont De Nemours and Company Issued Patent for Controlling Bioavailability of Nutrient Additions in Subsurface Formations for Microbial Enhanced Oil Recovery (MEOR).
In July, 2015 – Statoil planned to extend the life of its prolific Norne field in the Norwegian Sea to 2030. Statoil was able to maximise recovery rates from the Norne field using microbial enhanced oil recovery (MEOR) and is thought to be the only company in the world to employ MEOR on an offshore field.
Microbial enhanced oil recovery Global Market – Segmentation
The scope of global microbial enhanced oil recovery market is segmented into three major segments which are explained below:
- By Injection Type
- Cyclic MEOR (Huff & Puff process)
- Microbial Flooding
- Feeding Existing Bacteria
- By Application
- Interfacial Tension Reduction
- Emulsification and De-emulsification
- Selective Plugging
- Wettability Alteration
- Gas Production
- Bio Degradation
- By Well Types
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Microbial enhanced oil recovery Global Market – Competitive Analysis
The global market for microbial enhanced oil recovery is on a verge of phenomenal growth. To maintain the market position and to drive the market growth, all key players are actively anticipated to undertake microbial enhanced oil recovery methodology over the ageing and depleting oil field s across the globe. Market leaders are innovating continuously and increasingly seeking operational expansion through developed & restructured MEOR techniques. Collaborative research between the technology developers and oil rig operators will be creating a lucrative market for microbial enhanced oil recovery in near future.
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