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(MENAFN - GetNews) The global enhanced oil recovery (EOR) market reached a value of US$ 45.6 Billion in 2020. IMARC Group expects the global enhanced oil recovery (EOR) market to exhibit moderate growth during (2021-2026).
As per the latest report by IMARC Group, titled Enhanced Oil Recovery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026, the global enhanced oil recovery (EOR) market size is increasing at a steady rate. The process of oil production is generally divided into primary, secondary and tertiary phases. The primary oil recovery phase is limited to hydrocarbons that naturally rise to the surface; the secondary recovery phase employs water and gas injection, displacing the oil and pushing it to the surface; and the tertiary phase works by increasing the pressure and minimizing the viscosity of the oil. The tertiary recovery phase, also known as enhanced oil recovery (EOR), is currently gaining traction across the globe as it aids