The global market for chemical enhanced oil recovery (EOR) is set to expand significantly over the coming decade. According to Allied Market Research’s 'Global Oil Recovery Market Report,' the market, valued at $900 million in 2021, is expected to grow at an average annual rate of 4.6%, reaching $1.
Chemical EOR techniques, which rely on polymer, surfactant, and alkaline injections, are increasingly being used to boost production in mature oil fields where traditional methods are declining. These methods are considered highly effective for extracting remaining oil from underground reservoirs.
The majority of the market is driven by onshore projects. In 2021, onshore operations accounted for around 75% of the market due to the high number of mature oil wells. Offshore projects also attract attention, but high salinity, chemical storage challenges, and costs remain key constraints.
Currently, North America meets approximately 40% of global demand, with the United States leading production at 16.6 million barrels per day. In the Asia-Pacific region, output reaches 7.34 million barrels per day, with China and India as major producers. In Europe, supply disruptions from Russia due to the conflict in Ukraine are prompting governments to invest in production-enhancing technologies.
Leading industry players include ExxonMobil, BP, Shell, Sinopec, BASF, Chevron, Baker Hughes, Lukoil, and Petrobras.
The report highlights that chemical EOR methods play a crucial role in extending the life of mature oil fields. However, high costs, environmental risks, and competition from CO₂-based methods remain significant limiting factors.
The market is segmented by chemical type — petroleum-based, bio-based, and water-based — as well as by product, including water-soluble polymers, surfactants, gels, biopolymers, and alkalines. Techniques include polymer, surfactant-polymer, alkaline-polymer, and low-salinity gas injection, with applications spanning onshore and offshore operations.
Experts note that market growth is primarily driven by a gradual shift towards maximising recovery from existing reservoirs rather than new discoveries.
Iran warned U.S. forces on Monday not to enter the Strait of Hormuz after President Donald Trump said the United S...
Turkish President Recep Tayyip Erdoğan has urged Iraq’s prime minister-designate to form a government which reflects the country’...
The commander of Iran’s Khatam al-Anbia Central Command has warned the U.S. against deploying forces to escort vessels through the Strait of ...
Uzbekistan has unveiled a series of major economic and regional initiatives as more than 4,000 delegates from over 100 countries gather in Samarkan...
Australia began public hearings on Monday in an inquiry into the Bondi Beach mass shooting in December, with Jewish Australians giving evidence abo...
The commander of Iran’s Khatam al-Anbia Central Command has warned the U.S. against deploying forces to escort vessels through the Strait of Hormuz, saying any such move would be met with force.
Uzbekistan has unveiled a series of major economic and regional initiatives as more than 4,000 delegates from over 100 countries gather in Samarkand for the 59th Annual Meeting of the Asian Development Bank (ADB), held under the theme “Crossroads of Progress.”
European allies are stepping up efforts to meet military commitments following criticism from U.S. President Donald Trump, according to NATO Secretary General Mark Rutte.
Minval Politika has released a third set of footage it says shows former International Criminal Court prosecutor Luis Moreno Ocampo discussing the use of artificial intelligence in a project linked to Armenia and ‘Nagorno-Karabakh’.
Ukraine is monitoring “unusual activity” along its border with Belarus, President Volodymyr Zelenskyy said in a video statement released on Saturday (2 May). He warned that Kyiv is ready to respond if necessary amid continued regional tensions linked to Russia’s war.
China has moved to block U.S. sanctions on five of its oil refineries, in a fresh escalation of tensions over trade and energy policy.
U.S. President Donald Trump has said he will “soon be reviewing” a new 14-point proposal sent by Iran, casting doubt on the chances of a deal after Tehran called for security guarantees, an end to naval blockades and a halt to the war across the region, including in Lebanon.
Malian authorities have launched an investigation into suspected soldiers accused of involvement in coordinated attacks on military bases carried out by militants linked to al Qaeda and separatist Tuareg rebels on 25 April 2026.
Ukraine has launched a new wave of drone strikes on Sunday (3 May) across Russia, hitting key infrastructure and causing casualties in several regions, officials on both sides said.
U.S. President Donald Trump has said he will raise tariffs on cars and trucks imported from the European Union to 25% next week, up from the 15% level agreed last year, accusing the bloc of failing to comply with its trade commitments.
The decision by the United Arab Emirates to leave OPEC+ on 1 May has put renewed focus on one of the most influential groups in global energy - and how its decisions can shape oil prices worldwide.
The United Arab Emirates has said it's quitting OPEC from 1 May, dealing a major blow to the oil producers’ group and its de facto leader, Saudi Arabia, amid disruption caused by the Iran war.
As the Iran war disrupts global flows of oil and gas and energy prices skyrocket, the Drin River, which descends through the mountains of northern Albania, is acting as a kind of shield.
China has ordered Meta to unwind its more than $2 billion acquisition of artificial intelligence start-up Manus, marking a major escalation in Beijing’s scrutiny of foreign investment in sensitive technology sectors. The order was issued on Monday by the National Development and Reform Commission.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment