Trapped Oil" sm
What is Enhanced Oil Recovery?
Enhanced Oil Recovery or "EOR," also referred to as tertiary recovery or tertiary oil recovery, is the 3rd and final stage of oil recovery.
When an oil well is first completed and oil production begins, this is called the primary oil recovery stage. Anywhere from 5% to 15% of the "original oil in place" (OOIP) in the oil well's reservoir is recovered via "natural" reservoir drive, meaning natural forces drive or displace the oil into the production well's well bore.
The secondary oil recovery stage is where additional production measures are installed wherein anywhere from 10% to 30% of the original oil in place is recovered.
When the secondary oil recovery stage is complete - and ready for Enhanced Oil Recovery - 55% to 85% of the original oil in place remains.
The Department of Energy and many industry experts are on record in stating that Enhanced Oil Recovery has the potential to recover up to 60% of the remaining 55% to 85% - which means that Enhanced Oil Recovery has the potential to recover up 300 Billion barrels of oil. At $100/bbl, Enhanced Oil Recovery represents a $30 Trillion market opportunity (in the U.S.A.).
* EOR Technologies is a new company that is presently being formed by a top EOR engineer and EOR Professor at one of the top-ranked Petroleum Engineering schools and an energy professional with 25 years experience & MBA.
Two recent studies document the explosive growth in the
Enhanced Oil Recovery market:
1. Enhanced Oil Recovery Market Valued at $126.02 Billion/year (2012) with Gas EOR and CO2-EOR technologies leading the Growth for the EOR Industry
2. Global revenues from Enhanced Oil Recovery production now exceed one trillion dollars/year. According to a recent report from energy research publisher SBI, the market for worldwide Enhanced Oil Recovery production will reach $1.3 trillion/year by 2015.
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The United States will recover more than 300 Billion Barrels of Oil through
Enhanced Oil Recovery (EOR) technologies according to the Department of Energy.
With oil priced at $100/bbl, EOR represents a $30 Trillion market in the USA
In the next 10-15 years, 50% of the oil produced in the USA
will be through Enhanced Oil Recovery technologies.
And 50% of this amount will be produced by CO2-EOR.
The Enhanced Oil Recovery industry represents a $30 Trillion market,
(in the USA) with oil priced at $100 per barrel.
Enhanced Oil Recovery technologies would solve our trade deficit problems, create thousands of new jobs, and save the U.S. economy almost $400 billion/year and end our reliance and dependence on foreign oil suppliers. At the same time, sequester billions of tons of Carbon Emissions, as Carbon Dioxide is used in producing previously non-recoverable oil. When an oil well or oil field reaches the end of its normal life, as much as 75% of the "original oil place" is still left underground in the oil wells. That's because recovering previously non-recoverable oil is either too difficult or too expensive, or both. It has been estimated that by recovering just 1% of the previously non-recoverable oil through Enhanced Oil Recovery technologies, that this would produce about 30 billion additional barrels of oil.
DOE estimates Colorado and Wyoming have
1.8 trillion barrels of oil that can be recovered with
Steam Injection - an EOR technology
America Needs America's Oil!
Recovery by EOR Technologies,
the Technology-neutral EOR company
"Maximum Oil Production at the Least Cost on an EOR Technology-neutral Basis"
What are the various EOR Technologies?
EOR Technologies describes a growing number of Enhanced Oil Recovery technologies used to recover oil in the third and final stage of oil production. Oil recovered in this stage may come close to or possibly exceed the oil that was produced in the primary and secondary stages. A few of the leading (and emerging) EOR technologies include:
Heavy Oil Recovery
Miscible Gas Flooding/Injection
Over the past forty years, the enhanced oil recovery industry has produced a number of excellent and proven EOR technologies.
However, the optimum EOR technology for any one particular client with declining oil production, is dependent on a number of variables that must be identified and understood before selecting the correct EOR technology, including;
Specific oil reservoir type / condition
Depth of pay zone
Interfacial tension or IFT ( displacement efficiency)
Mobility control (sweep efficiency)
Overall condition of well
Reservoir's brine (salinity NaCl) content
Working condition of reservoir
among others. The "optimum" EOR technology for one reservoir and pay zone may not be the optimum EOR technology for another - even within the same oil field. That's why we are "EOR technology neutral." We apply the optimum EOR technology for each client's specific requirements for maximizing our client's oil recovery, at the least possible cost.
Enhanced oil recovery represents a significant opportunity for companies with declining oil production to significantly increase their oil production and revenues through our range of EOR technologies and services.
How much more oil can we produce from our "mature" oil field and wells?
Enhanced oil recovery or "EOR" represents a significant opportunity for companies with declining oil production to significantly increase their oil production and revenues through our range of EOR technologies and services.
As seen above, there are a number of variables that determine the potential increase in production for any particular application.
With that said, some of the EOR technologies can have a significant reversal in oil production.
Would increasing your oil production from 20 bbls/day to 40 bbls/day for a 100% increase in oil production make a difference in your company's bottom line?
We Free Trapped Oil sm with the optimum EOR "technology-neutral" solution.
The EOR industry's technologies' products, services and capabilities include:
Energy Investment Banking
Enhanced Oil Recovery
Heavy Oil Recovery
Upstream oil and gas acquisitions
There can only be one "optimum" EOR solution per well/reservoir or mature oil oil field. EOR Technologies identifies that EOR solution to insure the maximum oil production for the least cost for our clients. Note: EOR technologies, products and services may be provided in part or in whole by affiliated companies or partner companies. Call/email us today for an initial consultation to discuss your declining oil production problems.
* Note: Increased oil production results vary due to a number of factors including oil well, oil field, reservoirs and operating conditions of the well and reservoir. EOR results will vary. EOR technology deployed may be provided in part or in whole by partner or affiliate companies.
EOR Technologies is a new EOR company that is strategically-positioned to be one of the leading EOR "technology neutral" companies in the world. We will be a leading EOR company due to our providing the correct EOR solution for our clients. Many companies in the EOR industry are not "EOR" companies first and foremost but chemical companies selling chemicals or surfactant companies selling surfactants or equipment companies selling equipment. EOR Technologies is different in that we are EOR technology-neutral and deliver the optimum EOR solution that produces the maximum oil production at the least cost for our clients.
The position of Chief Engineer with EOR Technologies to be filled by a leading EOR Professor, Ph.D., Professional Engineer & researcher in Enhanced Oil Recovery at a major university and one of the top Petroleum Engineering programs in the world. Press Release coming soon.
Oil Recovery - a $30 Trillion Market
in the USA with Oil @ $100 / bbl
Enhanced Oil Recovery revenues nearly DOUBLED,
in just 4 years from $54.96 billion in 2007 to
$102.02 billion in 2011!
CO2-EOR / Gas-EOR technologies lead all other
EOR Technologies with 43% market share.
We deliver solutions::
That produce results:
Greater market share
Increased shareholder value
American Energy Plan
3-5 million new jobs
Fuel Savings of > $1.50/gallon
American Energy Independence
Ends the worst economic depression of all time
Energy Investment Banking
NO FOREIGN OIL!
Domestic Oil and Gas production!
hundreds and hundreds and hundreds of billions of dollars every year for
oil, much of it from the Middle East, is just about the single stupidest
thing that modern society could possibly do. It’s very difficult to
think of anything more idiotic than that.”
~ R. James Woolsey, Jr., former Director of the CIA
According to R. James Woolsey, former Director of the Central Intelligence Agency, “The basic insight is to realize that global warming, the geopolitics of oil, and warfare in the Persian Gulf are not separate problems — they are aspects of a single problem, the West’s dependence on oil.”
"Changing the Way the World Makes and Uses Energy" sm
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