Middle East Bucking The Trend In Drive For New EOR Technology
The majority of daily oil production in today’s market comes from mature or maturing fields. New discoveries of recoverable reserves are failing to match the pace set by the growing global demand for energy.
This, in turn, increases the requirement for new technologies that can enhance recovery from both active fields and future discoveries.
The hydrocarbon resources found within carbonate reservoirs are in particular need of innovative new technologies to facilitate their economic exploitation. Carbonates are of critical importance to the oil and gas industry, with more than 60% of the world’s oil and 40% of its gas reserves trapped in such carbonates. Despite this, recovery factors using primary, secondary and tertiary methods from carbonates are significantly lower than that of sandstones.
The high oil price period of recent years resulted in both an increased interest in EOR R&D and a willing-ness to invest substantially in a wide range of techniques and approaches. There is concern that this enthusiasm is now diminishing due to last year’s fall in the oil price and its sustained lower level at the current time, with companies sticking to the less-costly tried and tested waterflooding technique as the preferred method of enhancing oil production.
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