Enhanced Oil Recovery 2012

EOR will play a key role in the future long term supply of oil to meet world demand. Conventional resources are maturing and the industry is experiencing limited volumes of discoveries of new conventional resources to replace production. At the same time, the growth in demand for oil is increasing at a steady pace with emerging economies dominating the world markets.

Using EOR, 30-60 % or more of the reservoir's original oil can be extracted compared to 20-40% using primary and secondary recovery. If EOR is implemented across the world, the crude oil extract rate goes up to 60%, which means we can extend the current shelf life of the remaining 46 years to 138 years.