Injection System Market Emergence Of Advanced Technologies And Global Industry Analysis 2020
Oil and gas industry is investing heavily in new technologies to increase oil production and meet energy demand. Depleting reserves are hampering the oil production of the companies. The focus has been shifted towards deep and ultra deep reserves that are unexplored. But the companies are also using enhanced oil recovery method to produce from depleting reserves. The number of enhanced oil recovery projects is expected to increase during the forecast period. This will require multiple injection wells and the equipment used for injection system. Owing to these factors, the injection system market for enhanced oil recovery will grow during the forecast period.
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Crude oil is produced from the reservoir using three methods namely primary, secondary and tertiary. In primary method, the oil is produced using reservoir pressure. This pressure decreases with time which derates the production. In secondary method, crude oil is produced by using artificial lift or gas injection to increase reservoir pressure. Depleted reservoir consists approximately more that 50 percent unproduced oil. To extract this oil various chemicals and fluids are injected using an injection well. This is known as the tertiary method of crude oil production. Carbon dioxide gas, nitrogen gas, hydrocarbons, hot water, steam, polymers, surfactants, etc can be used to inject into the reservoir. These fluids are injected several times. The type of fluid injected depends upon factors such as cost, availability and reservoir characteristics. Tertiary methods increase the crude oil recovery by approximately 15 to 25 percent. However, the production from an enhanced oil recovery project does not increase after injection. It is a time consuming process and sometimes it may take even two years to increase production from the reservoir.
The global injection system market for enhanced oil recovery can be segmented on the basis of equipment into injection trees, pumps, in line chokes, in line check valves, injection assembly and others. The equipment used in injection well should be compatible with the type of fluids that is injected into the reservoir. Moreover, the equipment should also be able to withstand vigorous condition i.e. high pressure and high temperature. Various types of pumps are available depending upon the type of fluids that will be injected. More than 50 percent of global enhanced oil recovery projects are taking place in North America. The region is also expected to dominate the global injection control system market for enhanced oil recovery during the forecast period.
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Some of the key players in the injection system market for enhanced oil recovery include Nalco, Pioneer Energy, Forum Energy Technologies, BRI Offshore, Cat Pumps, China Oilfield Technology Services Group Limited, Praxair Technology, Inc., EN-FAB, Inc., Mitsubishi Heavy Industries, Ltd., Vindum Engineering, John Crane and General Electric Company among others.