The Ultimate Guide to Enhanced Oil Recovery (EOR). Spending ($m) & Production (bpd) Forecasts for Chemical (Polymer, Alkaline, Surfactant), Gas (CO2 Injection, Nitrogen Injection, Natural Gas Injection), Thermal (Steam Injection (Steam Flood, Cyclic Steam Simulation (CSS)), Steam Assisted Gravity Drainage (SAGD), In-Situ Combustion, Heavy Oil Recovery Technologies Including Leading Company Analysis for Thermal EOR, Chemical EOR and CO2 EOR
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Visiongain publishes: EOR yearbook 2019
1. Page 83
www.Visiongain.com/energy
EOR Yearbook 2019
The Ultimate Guide to Enhanced Oil Recovery (EOR). Spending ($m) & Production (bpd) Forecasts for Chemical (Polymer, Alkaline,
Surfactant), Gas (CO2 Injection, Nitrogen Injection, Natural Gas Injection), Thermal (Steam Injection (Steam Flood, Cyclic Steam
Simulation (CSS)), Steam Assisted Gravity Drainage (SAGD), In-Situ Combustion, Heavy Oil Recovery Technologies Including Leading
Company Analysis for Thermal EOR, Chemical EOR and CO2 EOR
Figure 4.5 Steam EOR Submarket Spending Forecasts 2019-2029 ($mn)
Source: Visiongain 2019
4.5 The Hot Water EOR Submarket
The steam EOR submarket is calculated to see spending of $120 million and production of 4.6 million
in 2019, Visiongain forecasts. This will have increased to $243 million and 8.7 million in 2024 and to
$420 million and 14.4 MM in 2029. Spending will see a CAGR of 14.9% in the first half of the forecast
period and a CAGR of 12.4% in the second half, producing a 2019-2029 CAGR of 13.7%.
0.0
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4.0
6.0
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16.0
18.0
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10,000
20,000
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70,000
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
AGR(%)
TotalSpending(US$mn)
Total Spending ($mn) AGR (%)
2. Page 138
www.Visiongain.com/energy
EOR Yearbook 2019
The Ultimate Guide to Enhanced Oil Recovery (EOR). Spending ($m) & Production (bpd) Forecasts for Chemical (Polymer, Alkaline,
Surfactant), Gas (CO2 Injection, Nitrogen Injection, Natural Gas Injection), Thermal (Steam Injection (Steam Flood, Cyclic Steam
Simulation (CSS)), Steam Assisted Gravity Drainage (SAGD), In-Situ Combustion, Heavy Oil Recovery Technologies Including Leading
Company Analysis for Thermal EOR, Chemical EOR and CO2 EOR
at around $50 per barrel compared with around $15 per barrel for oil produced using conventional
techniques, it is understandable that a long-term approach will need to be taken by the government
to provide the incentives for EOR development. Establishing a more favourable tax environment for
EOR does not appear to be a priority for the Russian government at present, though this is likely to
change over the course of the ten-year forecast period as the country aims to meet its ambitious
production targets. The government introduced tax breaks for tight oil development in 2013.
Considering the fact that Western Siberia accounts for more than half of Russia’s oil output, and no
major discoveries have been made in the past five years, the likelihood of increased EOR activities
in the future is even higher. Though longer-term opportunities may exist in the Arctic, Russia will
certainly require EOR techniques to make the most of its existing reserves over the next decade,
which will lead to high growth rates, Visiongain believes.
4.6.9 The Egypt Thermal EOR Market Forecast 2019-2029
Table 4.19 display Visiongain’s forecast for the thermal EOR market in Egypt over the next ten
years.
Table 4.19 Egypt Thermal EOR Market Forecast 2019-2029 (MMbbl/yr
production, Spending $m, AGR %, CAGR %, Cumulative)
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2019-29
Production
(MMbbl/yr)
26.5 31.3 36.9 43.4 50.8 59.3 68.9 79.8 91.8 105.1 119.8 135.9 823
AGR (%) 18.2 17.8 17.5 17.1 16.7 16.3 15.7 15.1 14.5 14.0 13.4
Total
Spending
($m)
331 398 476 569 676 802 948 1,115 1,303 1,516 1,756 2,023 11,582
AGR (%) 20.1 19.7 19.3 19.0 18.6 18.2 17.6 16.9 16.3 15.8 15.2
CAGR 2019-24 (%) 19.0
2024-
2029
16.4
-
CAGR 2019-29 (%) 17.7
Source: Visiongain 2019
3. Page 320
www.Visiongain.com/energy
EOR Yearbook 2019
The Ultimate Guide to Enhanced Oil Recovery (EOR). Spending ($m) & Production (bpd) Forecasts for Chemical (Polymer, Alkaline,
Surfactant), Gas (CO2 Injection, Nitrogen Injection, Natural Gas Injection), Thermal (Steam Injection (Steam Flood, Cyclic Steam
Simulation (CSS)), Steam Assisted Gravity Drainage (SAGD), In-Situ Combustion, Heavy Oil Recovery Technologies Including Leading
Company Analysis for Thermal EOR, Chemical EOR and CO2 EOR
6.14 The Indonesian Chemical EOR Production and Market
Forecast 2019-2029
Table 6.24 display Visiongain’s production forecast for Indonesian chemical EOR over the next ten
years.
Table 6.24 The Indonesian Chemical EOR Production Forecast, 2019-2029
(MMbbl/yr, AGR %, CAGR%, Cumulative)
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2019-29
Production
(MMbbl/yr)
0.0 7.6 9.0 10.6 12.4 14.5 16.9 19.5 22.1 24.9 27.7 30.5 196
AGR (%) - 18.2 17.8 17.4 16.9 16.5 15.0 13.6 12.4 11.3 10.2
CAGR 2019-24 (%) 17.4
2024-
2029
12.5
-
CAGR 2019-29 (%) 14.9
Source: Visiongain 2019
Figure 6.46 The Indonesian Chemical EOR Production Forecast, 2019-2029
(MMbbl/yr, AGR %)
Source: Visiongain 2019
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2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
AGR(%)
Production(MM/yr)
Production (Mbpd) AGR (%)
4. Page 378
www.Visiongain.com/energy
EOR Yearbook 2019
The Ultimate Guide to Enhanced Oil Recovery (EOR). Spending ($m) & Production (bpd) Forecasts for Chemical (Polymer, Alkaline,
Surfactant), Gas (CO2 Injection, Nitrogen Injection, Natural Gas Injection), Thermal (Steam Injection (Steam Flood, Cyclic Steam
Simulation (CSS)), Steam Assisted Gravity Drainage (SAGD), In-Situ Combustion, Heavy Oil Recovery Technologies Including Leading
Company Analysis for Thermal EOR, Chemical EOR and CO2 EOR
8. The Leading Companies in the Enhanced Oil
Recovery Market
8.1 The Leading Companies in the Thermal EOR Market
8.1.1 Suncor
Table 8.1 Overview of Suncor in the Thermal Oil Sands EOR Market
(Headquarters, CEO, Address, Website, Total Company Revenue 2017
($m), Business Segments, No. of Employees, IR Contact, Ticker, Thermal
Oil Sands EOR Spending ($m) 2017, Thermal Oil Sands EOR Market Share
(%) 2017, Market Rank)
FY 2018
Headquarter Alberta, Canada
CEO Steve Williams
Address
150 – 6, Avenue S.W., Calgary, Alberta,
Canada, T2P 3E3
Website www.suncor.com
Total Company Revenue 2017 ($m) US $32,051 million
Business Segments
Oil Sand, Exploration and Production,
Refining and Marketing
No. of Employees 12,381
IR Contact +1 800 558 9071
Ticker SU (NYSE)
Thermal Oil Sands EOR Spending ($m) in 2018 US $1,090 million
Thermal Oil Sands EOR Market Share (%) in
2018
9.9%
Market Rank 2nd
Source: Visiongain 2019, Suncor 2018
Suncor Energy, an integrated energy company is headquartered in Alberta, Canada. It is engaged
in the exploration, acquisition, development, production, and marketing of crude oil in Canada and
overseas. It owns and operated mining, extraction, upgrading and in situ assets in the Athabasca oil
sands region. The company also owns a range of other assets, including refineries in Edmonton,
Alberta, four wind power projects with a total capacity of 111 megawatts, and Canada’s largest
biofuels plant, which has a current production capacity of 400 million litres per year.
Suncor’s product offering includes oil, natural gas, wind-generated electricity, and ethanol. Through
a 2009 merger with Petro-Canada, the company also owns a network of 1,450 petrol stations
throughout Canada. In addition to Suncor’s North American operations, the company also has assets
in the UK, Libya and Syria, though the latter possessions are not currently operational due to local
violence.