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The 25 Leading Companies in Enhanced Oil Recovery (EOR) 2014

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For an Executive Summary of this report please contact ediz.ibrahim@visiongain.com (+44 (0)20 7549 9976) or refer to our website …

For an Executive Summary of this report please contact ediz.ibrahim@visiongain.com (+44 (0)20 7549 9976) or refer to our website http://www.visiongain.com/Report/1212/The-25-Leading-Companies-in-Enhanced-Oil-Recovery-%28EOR%29-2014

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  • 1. The 25 Leading Companies in Enhanced Oil Recovery (EOR) 2014 A Competitive Analysis ©notice This material is copyright by visiongain. It is against the law to reproduce any of this material without the prior written agreement of visiongain. You cannot photocopy, fax, download to database or duplicate in any other way any of the material contained in this report. Each purchase and single copy is for personal use only.
  • 2. Contents 1. Executive Summary 1.1 The Enhanced Oil Recovery (EOR) Market Overview 1.2 Benefits of This Report 1.3 Who is This Report For? 1.4 Methodology and Enhanced Oil Recovery Market Definition 2. Introduction to the Enhanced Oil Recovery (EOR) Market 2.1 Stages of Oil Extraction 2.1.1 Primary Recovery 2.1.2 Secondary Recovery 2.1.3 Tertiary Recovery 2.2 Thermal EOR Processes 2.2.1 Steam Injection 2.2.1.1 Steam Flooding 2.2.1.2 Cyclic Steam Stimulation (CSS) 2.2.2 Steam Assisted Gravity Drainage (SAGD) 2.2.3 In-Situ Combustion 2.3 Gas EOR Processes 2.3.1 Carbon Dioxide Injection 2.3.2 Nitrogen Injection 2.3.3 Natural Gas Injection 2.4 Chemical EOR Processes 2.4.1 Polymer Flooding 2.4.2 Surfactant Flooding 2.4.3 Alkaline Flooding 2.4.4 Micellar Flooding 2.5 Unconventional Oil and Gas 2.5.1 Extra Heavy Oil 2.5.2 Oil Sands 2.5.3 Oil Shale 2.5.4 Tight Oil 2.5.5 Shale Gas 3. Key Issues in the Enhanced Oil Recovery (EOR) Market 3.1 Developments Affecting Companies in the Thermal Oil Sands Market Space www.visiongain.com
  • 3. Contents 3.1.1 Oil Sands Resources 3.1.2 Western Canadian Select (WCS) Continuing to Trade at a Discount to West Texas Intermediate (WTI) 3.1.3 How Important is Keystone to the Thermal Oil Sands Market? 3.2 Developments Affecting Companies in the Thermal Heavy Oil Market Space 3.2.1 Global Heavy Oil Resources 3.2.2 Prospects for Solar EOR 3.2.3 Heavy Oil versus Oil Sands in the Thermal EOR Market 3.3 Developments Affecting Companies in the CO2 EOR Market Space 3.3.1 Current Production Centres and Future Growth Opportunities 3.3.2 Prospects for Offshore CO2 EOR 3.3.3 The Importance of Government Funding 3.3.4 Competition from Rival Technologies 3.4 Developments Affecting Companies in the Chemical EOR Market Space 3.4.1 Improving Polymers and Surfactants 3.4.2 Current Production Centres and Future Growth Opportunities 3.4.3 Potential Challenges for Chemical EOR 4. Competitor Positioning in the Enhanced Oil Recovery (EOR) Market 4.1 The Leading 25 Companies in the EOR Market 2013 – Market Share Analysis 4.2 The Leading 25 Companies in the EOR Market 2014 – Market Share Analysis 4.3 Comparison of the EOR Methods Being Undertaken by Each Company 4.4 The Location of the Leading 25 Companies’ EOR Operations 5. Leading 25 Companies in the Enhanced Oil Recovery (EOR) Market 5.1 BP 5.1.1 Overview and EOR Operations 5.1.2 SWOT Analysis 5.1.3 Future Outlook ® 5.1.3.1 BP’s EOR Research and the Prospects for Low Sal Technology 5.1.3.2 BP’s Entry into the Oil Sands Business 5.1.3.3 BP’s Potential Investments in CO2 EOR and Polymer Flooding 5.2 Canadian Natural Resources Limited (CNRL) 5.2.1 Overview and EOR Operations 5.2.2 SWOT Analysis 5.2.2.1 CNRL’s Oil Sands Operations www.visiongain.com
  • 4. Contents 5.2.2.2 CNRL in the Thermal Heavy Oil Market 5.2.3 Future Outlook 5.2.3.1 Kirby South to Ramp up Production in 2014 5.2.3.2 Other Potential Oil Sands Developments 5.2.3.3 The Importance of Keystone XL to CNRL 5.3 Cenovus Energy Inc. 5.3.1 Overview and EOR Operations 5.3.2 SWOT Analysis 5.3.3 Future Outlook 5.3.3.1 Low Costs and Impressive Results at Oil Sands Operations 5.3.3.2 Prospects for Oil Sands Growth 5.3.3.3 CO2 EOR Developments 5.3.3.4 Potential Chemical EOR Growth 5.4 Chevron Corporation 5.4.1 Overview and EOR Operations 5.4.2 SWOT Analysis 5.4.2.1 Chevron in the Duri Field – The Largest EOR Operation in the World 5.4.2.2 Chevron’s Thermal EOR Operations in California 5.4.2.3 Chevron’s Pilot Steamflood at the Wafra Field 5.4.2.4 Chevron’s Involvement in the CO2 EOR Market 5.4.2.5 Chevron in the Tengiz Field 5.4.3 Future Outlook 5.4.3.1 Chevron Supporting EOR Research and Development Efforts 5.4.3.2 Chemical EOR at the Minas and Captain Fields 5.4.3.3 Potential for Solar EOR 5.5 China National Offshore Oil Corporation (CNOOC) 5.5.1 Overview and EOR Operations 5.5.2 SWOT Analysis 5.5.3 Future Outlook 5.5.3.1 CNOOC Increasing Its Investments in Canada’s Oil Sands 5.5.3.2 Opportunities for CNOOC within China 5.6 China National Petroleum Corporation (CNPC) 5.6.1 Overview and EOR Operations 5.6.2 SWOT Analysis 5.6.3 Future Outlook 5.6.3.1 Opportunities for CNPC within China www.visiongain.com
  • 5. Contents 5.6.3.2 Opportunities for CNPC Outside of China 5.7 China Petroleum & Chemical Corporation (Sinopec) 5.7.1 Overview and EOR Operations 5.7.2 SWOT Analysis 5.7.3 Future Outlook 5.7.3.1 Sinopec’s EOR Opportunities within China 5.7.3.2 Sinopec’s EOR Investments Outside of China 5.8 Connacher Oil & Gas 5.8.1 Overview and EOR Operations 5.8.2 SWOT Analysis 5.8.3 Future Outlook 5.9 ConocoPhillips 5.9.1 Overview and EOR Operations 5.9.2 SWOT Analysis 5.9.3 Future Outlook 5.9.3.1 Expansion Plans in Place for ConocoPhillips’ Thermal Oil Sands Operations 5.9.3.2 EOR Opportunities Outside of the Canadian Oil Sands 5.10 Denbury Resources 5.10.1 Overview and EOR Operations 5.10.2 SWOT Analysis 5.10.3 Future Outlook 5.10.3.1 Denbury Continues its Expansion in the Rockies 5.10.3.2 Denbury Strongly Positioned in the CO2 EOR Market Space 5.11 Devon Energy Corporation 5.11.1 Overview and EOR Operations 5.11.2 SWOT Analysis 5.11.3 Future Outlook 5.11.3.1 Third Phase of Jackfish on Course, Pike to Follow 5.12 ExxonMobil Corporation 5.12.1 Overview and EOR Operations 5.12.2 SWOT Analysis 5.12.3 Future Outlook 5.12.3.1 ExxonMobil’s Investments in New EOR Technologies 5.12.3.2 ExxonMobil’s Thermal Oil Sands Expansion Plans 5.12.3.3 ExxonMobil’s Involvement in the Malaysian EOR Market 5.13 Husky Energy www.visiongain.com
  • 6. Contents 5.13.1 Overview and EOR Operations 5.13.2 SWOT Analysis 5.13.3 Future Outlook 5.13.3.1 First Phase of Sunrise Oil Sands Project to Begin in Late 2014 5.13.3.2 Husky Pressing Ahead with Thermal Heavy Oil Projects as Prices Surge for Western Canadian Heavy Oil 5.14 Kinder Morgan 5.14.1 Overview and EOR Operations 5.14.2 SWOT Analysis 5.14.3 Future Outlook 5.15 Lukoil 5.15.1 Overview and EOR Operations 5.15.2 SWOT Analysis 5.15.3 Future Outlook 5.16 MEG Energy 5.16.1 Overview and EOR Operations 5.16.2 SWOT Analysis 5.16.3 Future Outlook 5.16.3.1 Further Production Increases at Christina Lake Project 5.16.3.2 Opportunities in the Surmont Leases 5.17 Occidental Petroleum Corporation 5.17.1 Overview and EOR Operations 5.17.2 SWOT Analysis 5.17.2.1 Occidental’s Leading Position in the CO2 EOR Market 5.17.2.2 Occidental’s SAGD Operation at the Mukhaizna Field in Oman 5.17.3 Future Outlook 5.17.3.1 Continued CO2 EOR Growth in the Permian Basin 5.17.3.2 Potential to Expand the Mukhaizna Project and Opportunities in the Neighbouring Kahmah Reservoir 5.17.3.3 Streamlining Plans and the Impact on EOR Production 5.18 Pemex 5.18.1 Overview and EOR Operations 5.18.2 SWOT Analysis 5.18.3 Future Outlook 5.18.3.1 Pemex’s Upcoming EOR Projects 5.18.3.2 The Potential Impact of Mexican Constitutional Changes www.visiongain.com
  • 7. Contents 5.19 Petrobras 5.19.1 Overview and EOR Operations 5.19.2 SWOT Analysis 5.19.2.1 The Lula Project 5.19.3 Future Outlook 5.19.3.1 Further CO2 EOR Opportunities for Petrobras 5.20 Petroleum Development Oman (PDO) 5.20.1 Overview and EOR Operations 5.20.2 SWOT Analysis 5.20.3 Future Outlook 5.20.3.1 PDO’s Ambitious Expansion Plans 5.20.3.2 The Prospects for Solar EOR in Oman 5.21 PDVSA 5.21.1 Overview and EOR Operations 5.21.2 SWOT Analysis 5.21.3 Future Outlook 5.21.3.1 Political Problems and the Need for Investment 5.21.3.2 PDVSA Focusing on Short-Term EOR Production Increases at Mature Fields 5.21.3.3 Long-Term Opportunities for EOR Production in the Orinoco Belt 5.22 Royal Dutch Shell 5.22.1 Overview and EOR Operations 5.22.2 SWOT Analysis 5.22.3 Future Outlook 5.22.3.1 Shell Investing Heavily in Chemical EOR 5.22.3.2 Shell Expanding Thermal EOR Operations and Investing in Solar EOR 5.22.3.3 Shell’s Potential Involvement in the CO2 EOR Market 5.23 Statoil 5.23.1 Overview and EOR Operations 5.23.2 SWOT Analysis 5.23.2.1 Uncertainty in Statoil’s Oil Sands Programme Following Recent Developments 5.23.2.2 Statoil’s Success with Gas Injection 5.23.3 Future Outlook 5.23.3.1 Statoil Experimenting with Chemical EOR 5.23.3.2 CO2 EOR Unlikely to be a Strong Growth Area for Statoil 5.24 Suncor Energy 5.24.1 Overview and EOR Operations www.visiongain.com
  • 8. Contents 5.24.2 SWOT Analysis 5.24.2.1 Firebag 5.24.2.2 MacKay River 5.24.2.3 Dover Demonstration Plant 5.24.3 Future Outlook 5.25 Total S.A. 5.25.1 Overview and EOR Operations 5.25.2 SWOT Analysis 5.25.3 Future Outlook 5.25.3.1 Opportunities for the Dalia Field Chemical EOR Project 5.25.3.2 Potential for CO2 EOR Projects in Various Locations 6. PEST Analysis of the Enhanced Oil Recovery (EOR) Market 7. Expert Opinion 7.1 GlassPoint 7.1.1 The Current Status of GlassPoint’s Pilot Projects 7.1.2 Prospects for Solar EOR in California and the Gulf Region 7.1.3 Other Potential Regions where Solar EOR can be Applied 7.1.4 Higher Upfront Costs. But Lower Operating Costs 7.1.5 Similarities and Differences between Solar and Gas 7.1.6 GlassPoint’s Relationship with Royal Dutch Shell 7.1.7 GlassPoint’s Aims for the Future 8. Conclusions 8.1 Global EOR Market Outlook 8.2 The Best Positioned Companies in the Thermal Oil Sands Market Space 8.3 The Best Positioned Companies in the Thermal Heavy Oil Market Space 8.4 The Best Positioned Companies in the CO2 EOR Market Space 8.5 The Best Positioned Companies in the Chemical EOR Market Space 9. Glossary www.visiongain.com
  • 9. Contents List of Tables Table 3.1 Original Heavy Oil in Place by Nation (Billion Barrels) Table 3.2 Top Ten Thermal EOR Projects (Company, Name, bpd, Resource) Table 4.1 The Leading 25 Companies in the EOR Market 2013 (Rank, Value $Bn, Market Share %) Table 4.2 The Leading 25 Companies in the EOR Market 2014 (Rank, Value $Bn, Market Share %) Table 4.3 Methods of EOR Production Among the Leading 25 Companies (Thermal, Gas and Chemical) Table 4.4 Location of EOR Projects Among the Leading 25 Companies (United States, Canada, Latin America, Asia, Middle East, Russia and Central Asia, Europe, Africa) Table 5.1 BP Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.2 SWOT Analysis of BP in the EOR Market Table 5.3 CNRL Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.4 SWOT Analysis of CNRL in the EOR Market Table 5.5 Cenovus Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.6 SWOT Analysis of Cenovus in the EOR Market Table 5.7 Chevron Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.8 SWOT Analysis of Chevron in the EOR Market Table 5.9 CNOOC Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.10 SWOT Analysis of CNOOC in the EOR Market Table 5.11 CNPC Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR www.visiongain.com
  • 10. Contents Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.12 SWOT Analysis of CNPC in the EOR Market Table 5.13 Sinopec Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.14 SWOT Analysis of Sinopec in the EOR Market Table 5.15 Connacher Oil & Gas Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.16 SWOT Analysis of Connacher Oil & Gas in the EOR Market Table 5.17 ConocoPhillips Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.18 SWOT Analysis of ConocoPhillips in the EOR Market Table 5.19 Denbury Resources Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.20 SWOT Analysis of Denbury Resources in the EOR Market Table 5.21 Devon Energy Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.22 SWOT Analysis of Devon Energy in the EOR Market Table 5.23 ExxonMobil Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.24 SWOT Analysis of ExxonMobil in the EOR Market Table 5.25 Husky Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR www.visiongain.com
  • 11. Contents Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.26 SWOT Analysis of Husky in the EOR Market Table 5.27 Kinder Morgan Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.28 SWOT Analysis of Kinder Morgan in the EOR Market Table 5.29 Lukoil Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.30 SWOT Analysis of Lukoil in the EOR Market Table 5.31 MEG Energy Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.32 SWOT Analysis of MEG Energy in the EOR Market Table 5.33 Occidental Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.34 SWOT Analysis of Occidental in the EOR Market Table 5.35 Pemex Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.36 SWOT Analysis of Pemex in the EOR Market Table 5.37 Pemex’s Upcoming Pilot EOR Projects (Location and EOR Method) Table 5.38 Petrobras Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.39 SWOT Analysis of Petrobras in the EOR Market Table 5.40 PDO Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR www.visiongain.com
  • 12. Contents Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.41 SWOT Analysis of PDO in the EOR Market Table 5.42 PDVSA Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.43 SWOT Analysis of PDVSA in the EOR Market Table 5.44 Shell Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 4.45 SWOT Analysis of Shell in the EOR Market Table 5.46 Statoil Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.47 SWOT Analysis of Statoil in the EOR Market Table 5.48 Suncor Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.49 SWOT Analysis of Suncor in the EOR Market Table 5.50 Total Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Table 5.51 SWOT Analysis of Total in the EOR Market Table 6.1 PEST Analysis of the EOR Market www.visiongain.com
  • 13. Contents List of Figures Figure 3.1 World Map of Bitumen Reserves (Million Barrels of Bitumen) Figure 3.2 USGS Survey Of Global Heavy Oil Resources by Region (Billion Barrels) Figure 3.3 Oil Sands & Heavy Oil Thermal EOR Market Share 2013 & 2023 (% Share) Figure 4.1 The Leading 25 Companies in EOR Market Share 2013 (%) Figure 4.2 The Leading 25 Companies in EOR Market Share 2014 (%) Figure 4.3 The Leading 25 Companies in EOR Market Share Change Forecast 2013-2014 (%) Figure 5.1 BP EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.2 Location, Type and Production (bpd) of BP’s EOR Operations Figure 5.3 BP’s EOR Production Split (%) Gas and Chemical Figure 5.4 CNRL EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.5 Location, Type and Production (bpd) of CNRL’s EOR Operations Figure 5.6 CNRL’s EOR Production Split (%) Thermal and Chemical Figure 5.7 Cenovus EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.8 Location, Type and Production (bpd) of Cenovus’ EOR Operations Figure 5.9 Cenovus’ EOR Production Split (%) Thermal, Gas and Chemical Figure 5.10 Chevron EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.11 Location, Type and Production (bpd) of Chevron’s EOR Operations Figure 5.12 Chevron’s EOR Production Split (%) Thermal and Gas Figure 5.13 CNOOC EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.14 Location, Type and Production (bpd) of CNOOC’s EOR Operations Figure 5.15 CNPC EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.16 Location, Type and Production (bpd) of CNPC’s EOR Operations Figure 5.17 CNPC’s EOR Production Split (%) Thermal, Gas and Chemical Figure 5.18 Sinopec EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.19 Location, Type and Production (bpd) of Sinopec’s EOR Operations Figure 5.20 Sinopec’s EOR Production Split (%) Thermal and Chemical Figure 5.21 Connacher Oil & Gas EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.22 Location, Type and Production (bpd) of Connacher Oil & Gas’ EOR Operations Figure 5.23 ConocoPhillips EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.24 Location, Type and Production (bpd) of ConocoPhillips’ EOR Operations Figure 5.25 ConocoPhillips’ EOR Production Split (%) Thermal and Gas Figure 5.26 Denbury Resources EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.27 Location, Type and Production (bpd) of Denbury Resources’ EOR Operations Figure 5.28 Devon Energy EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.29 Location, Type and Production (bpd) of Devon Energy’s EOR Operations www.visiongain.com
  • 14. Contents Figure 5.30 Devon Energy’s EOR Production Split (%) Thermal and Gas Figure 5.31 ExxonMobil EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.32 Location, Type and Production (bpd) of ExxonMobil’s EOR Operations Figure 5.33 ExxonMobil’s EOR Production Split (%) Thermal and Gas Figure 5.34 Husky EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.35 Location, Type and Production (bpd) of Husky’s EOR Operations Figure 5.36 Kinder Morgan EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.37 Location, Type and Production (bpd) of Kinder Morgan’s EOR Operations Figure 5.38 Lukoil EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.39 Location, Type and Production (bpd) of Lukoil’s EOR Operations Figure 5.40 Lukoil’s EOR Production Split (%) Thermal and Chemical Figure 5.41 MEG Energy EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.42 Location, Type and Production (bpd) of MEG Energy’s EOR Operations Figure 5.43 Occidental EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.44 Location, Type and Production (bpd) of Occidental’s EOR Operations Figure 5.45 Occidental’s EOR Production Split (%) Thermal, Gas and Chemical Figure 5.46 Pemex EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.47 Location, Type and Production (bpd) of Pemex’s EOR Operations Figure 5.48 Petrobras EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.49 Location, Type and Production (bpd) of Petrobras’ EOR Operations Figure 5.50 Petrobras’ EOR Production Split (%) Thermal, Gas and Chemical Figure 5.51 PDO EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.52 Location, Type and Production (bpd) of PDO’s EOR Operations Figure 5.53 PDO’s EOR Production Split (%) Thermal, Gas and Chemical Figure 5.54 PDVSA EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.55 Location, Type and Production (bpd) of PDVSA’s EOR Operations Figure 5.56 PDVSA’s EOR Production Split (%) Thermal, Gas and Chemical Figure 5.57 Shell EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.58 Location, Type and Production (bpd) of Shell’s EOR Operations Figure 5.59 Statoil EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.60 Location, Type and Production (bpd) of Statoil’s EOR Operations Figure 5.61 Statoil’s EOR Production Split (%) Thermal and Gas Figure 5.62 Suncor EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.63 Location, Type and Production (bpd) of Suncor’s EOR Operations Figure 5.64 Total EOR Market Share 2013 & Market Share Forecast 2014 (%) Figure 5.65 Location, Type and Production (bpd) of Total’s EOR Operations www.visiongain.com
  • 15. Contents Companies Mentioned in This Report Abu Dhabi National Oil Company (ADNOC) Aero Energy Air Liquide Air Products and Chemicals Anadarko Petroleum Corporation Apache Canada Athabasca Oil Sands Corp. (AOSC) Babcock & Wilcox Canada Bapco Beicip Franlab Berkshire Hathaway Berry Petroleum BG Group BP BP Capital Management Bright Source Energy Canadian Natural Resources Limited (CNRL) Cenovus Energy Inc. Chevron Corporation Chevron Technology Ventures Chevron USA China National Offshore Oil Corporation (CNOOC) China National Petroleum Corporation (CNPC) China Petroleum & Chemical Corporation (Sinopec) Chrysalix Energy Venture Capital CITGO Petroleum Connacher Oil & Gas ConocoPhillips Cupet Denbury Resources Devon Canada Devon Energy Corporation DuPont Elk Petroleum www.visiongain.com
  • 16. Contents El Paso Pipeline Partners Encana Corporation ExxonMobil Chemical ExxonMobil Corporation Fluor Geogreen GeoSouthern Energy Gibson Energy Inc. GlassPoint Glori Energy Goldman Sachs Hess Corporation Hitachi Husky Energy Inc. Hyundai Heavy Industries IESA Imperial Oil Japan Canada Oil Sands Limited (JACOS) Japan Petroleum Exploration Co. Ltd. (Japex) KBR Kinder Morgan Kinder Morgan Energy Partners Kinder Morgan Management Kuwait Gulf Oil Company Kuwait Petroleum Corporation Liwa Energy Lukoil Magellan Midstream Partners Marathon Oil Masdar MEG Energy Merit Energy Company Mitsubishi Heavy Industries (MHI) MMC Oil and Gas Engineering Mubadala Nalco www.visiongain.com
  • 17. Contents Nederlandse Aardolie Maatschappij (NAM) Neill and Gunter Ltd. Nexen Inc. Nova Chemicals Corporation N-Solv Corporation Nth Power Occidental Petroleum Corporation Oman Oil Company OMV Partex PDVSA Pemex Petrobras Petro-Canada Petrocedeño PetroChina Petroecuador Petroleum Development Oman (PDO) Petronas Phillips 66 Praxair PTT Exploration and Production Reliance Industries Ltd (RIL) RockPort Capital Rosneft Royal Dutch Shell SaskPower Shell Chemicals Shell Malaysia Shell Oman Marketing Company Siemens SNC Lavalin-Cansolv SNF Group Southern Company Summit Power Group Suncor Energy www.visiongain.com
  • 18. Contents Statoil Statoil Canada Talisman Targa Resources Tatweer Tengizchevroil TIORCO Total Total E&P Canada Water Standard Wintershall XTO Energy www.visiongain.com
  • 19. Contents Government Agencies and Other Organisations Mentioned in This Report Brazilian Coal Association (BCA) Brazilian Energy and Carbon Storage Research Centre Bureau of Land Management (BLM) California Department of Oil, Gas & Geothermal Resources (DOGGR) Centre for North Sea Enhanced Oil Recovery with CO2 (CENSEOR-CO2) Centre of Excellence in Research on Carbon Storage (CEPAC) China Export-Import Bank École supérieure de physique et de chimie industrielles Energy Information Administration (EIA) Energy Resources Conservation Board French Petroleum Institute (IFP) Gulf Cooperation Council (GCC) International Monetary Fund (IMF) Max Planck Institute National Enhanced Oil Recovery Initiative (NEORI) Norwegian Ministry of Petroleum and Energy Norwegian Petroleum Directorate Organisation of Petroleum Exporting Countries (OPEC) Pembina Institute Scientific and Technical Centre (CSTJF) Sustainable Development Technology Canada (SDTC) University of Cambridge University of Copenhagen University of Delft University of Houston University of Kansas University of Texas University of Twente US Department of Energy (DOE) US Geological Survey (USGS) World Bank World Energy Council (WEC) www.visiongain.com
  • 20. The 25 Leading Companies in Enhanced Oil Recovery (EOR) 2014: A Competitive Analysis 5.18 Pemex 5.18.1 Overview and EOR Operations Table 5.35 provides a summary of Petróleos Mexicanos (Pemex) and their involvement in the EOR market, while Figure 5.46 shows the company’s 2013 market share and the forecast for the company’s 2014 market share. Table 5.35 Pemex Overview: Headquarters, Employees, Stock Exchange, Total EOR Production 2013 (bpd), Global EOR Market Size 2013 ($Bn), Global EOR Market Share 2013 (%), Global EOR Market Rank 2013, Forecast EOR Production 2014 (bpd), Global EOR Market Size 2014 ($Bn), Global EOR Market Share 2014 (%), Global EOR Market Rank 2014, Five-Year Outlook Headquarters Mexico City, Mexico Employees 138,000 Stock Exchange - Total EOR Production 2013 (bpd) 42,000 bpd Global EOR Market Size 2013 ($Bn) $1.501bn Global EOR Market Share 2013 (%) 1.3% Global EOR Market Rank 2013 19th Forecast EOR Production 2014 (bpd) 42,000 bpd Global EOR Market Size 2014 ($Bn) $1.501bn Global EOR Market Share 2014 (%) 1.2% Global EOR Market Rank 2014 20th Five-Year Outlook Moderate Growth Source: Visiongain 2014 www.visiongain.com Page 155
  • 21. The 25 Leading Companies in Enhanced Oil Recovery (EOR) 2014: A Competitive Analysis Mexico has had some success over the past two years in placing carbon capture and storage onto its policy agenda, incorporating it as part of the country’s National Energy Strategy 2012–26. Mexico is believed to have some potential for CO2 EOR, while ongoing declines from older fields are creating an imperative to invest in new sources of oil. This could creates opportunities for Pemex, possibly in collaboration with international oil companies, to invest is commercial-scale CO2 EOR projects, though visiongain believes this to still be a number of years off. Table 5.37 Pemex’s Upcoming Pilot EOR Projects (Location and EOR Method) Field EOR Method Akal KL, Chac Foamy surfactant injection and surfactant solution injection Cunduacán Foamy surfactant injection Poza Rica Surfactant injection Samaria Terciario Steam injection Chuc Hydrocarbon gas injection Maloob CO2 injection Agua fría CO2 injection Coyotes CO2 injection Soledad Air injection Cárdenas Air injection Source: Visiongain 2014 The Chicontepec area spanning across three states of Mexico is of priority interest to Pemex and the southern part of the region holds substantial amounts of heavy oil with an API gravity of around 18⁰. The Chicontepec region contains 442 million barrels of proven crude oil reserves and 11 billion more barrels of probable and possible reserves. If KMZ does reach its production peak within the next few years and follows a similar decline pattern to the Cantarell field then Pemex could decide to switch its nitrogen injection operations to the Chicontepec region, as it previously did when moving from Cantarell to KMZ. However, the geological nature of the reservoir consisting of a succession of thin shales and carbonates - makes it difficult to apply thermal steam and SAGD techniques in the Chicontepec area. www.visiongain.com Page 159
  • 22. The 25 Leading Companies in Enhanced Oil Recovery (EOR) 2014: A Competitive Analysis Figure 5.60 Location, Type and Production (bpd) of Statoil’s EOR Operations Source: Visiongain 2014 Figure 5.61 Statoil’s EOR Production Split (%) Thermal and Gas Thermal, 26.5% Gas, 73.5% Source: Visiongain 2014 www.visiongain.com Page 190
  • 23. The 25 Leading Companies in Enhanced Oil Recovery (EOR) 2014: A Competitive Analysis 7. Expert Opinion 7.1 GlassPoint Rod MacGregor is CEO of GlassPoint, a manufacturer of solar steam generators for the oil and gas industry. Together with Berry Petroleum, the company has a small pilot facility in Kern County, California, and is involved with Petroleum Development Oman’s (PDO) solar enhanced oil recovery pilot in Oman. Visiongain spoke to Mr MacGregor in September 2013 and is grateful for his input into the report. 7.1.1 The Current Status of GlassPoint’s Pilot Projects Visiongain: GlassPoint is involved in two Solar EOR projects, with Berry Petroleum in California and PDO in Oman. How will these projects progress in the future and do you have other Solar EOR projects planned? Rod MacGregor: At this stage in our evolution these two projects are both pilots. They are relatively small in scale for oil production but quite reasonable in scale for power productions standards. The respective companies are operating them and gaining experience from them. We hope that both these individual companies and their peers in the respective regions will deploy full field EOR in the future. 7.1.2 Prospects for Solar EOR in California and the Gulf Region Visiongain: Can you tell me a little bit about the reasons why solar EOR is being developed in California and the Middle East and the growth prospects in these regions? Rod MacGregor: I don’t think we will see Berry or any of the California operators switch to Solar EOR in the short to medium term. The drivers for Solar EOR are primarily around saving gas; either reducing the quantity of gas you burn or reducing the cost of the gas you burn. But the abundance and low price of gas in the US at the moment is not making solar EOR attractive for many heavy oil producers. However, the state of California has created some new laws around CO2 emissions; it’s a range of laws under the umbrella of the Assembly Bill (AB) 32. AB 32 is all about reducing California’s CO2 emissions and one of its main pillars is effectively a cap and trade system, not too different from the European system, which applies to stationary emitters. The allocation that these stationary emitters of the oil companies get will be reduced over time. Today the market price for CO2 translates into $0.80 per MMbtu of gas burned. So whatever the www.visiongain.com Page 207