Saudi Arabia Enhanced Oil Recovery Market Size & Outlook
The enhanced oil recovery market in Saudi Arabia is expected to reach a projected revenue of US$ 549.4 million by 2027. A compound annual growth rate of 2.3% is expected of Saudi Arabia enhanced oil recovery market from 2020 to 2027.
Revenue, 2019 (US$M)
$457.9
Forecast, 2027 (US$M)
$549.4
CAGR, 2020 - 2027
2.3%
Report Coverage
Saudi Arabia
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Saudi Arabia enhanced oil recovery market highlights
- The Saudi Arabia enhanced oil recovery market generated a revenue of USD 457.9 million in 2019 and is expected to reach USD 549.4 million by 2027.
- The Saudi Arabia market is expected to grow at a CAGR of 2.3% from 2020 to 2027.
- In terms of segment, thermal was the largest revenue generating technology in 2019.
- CO2 Injection is the most lucrative technology segment registering the fastest growth during the forecast period.
Enhanced oil recovery market data book summary
| Market revenue in 2019 | USD 457.9 million |
| Market revenue in 2027 | USD 549.4 million |
| Growth rate | 2.3% (CAGR from 2019 to 2027) |
| Largest segment | Thermal |
| Fastest growing segment | CO2 Injection |
| Historical data | 2016 - 2018 |
| Base year | 2019 |
| Forecast period | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thermal, CO2 Injection, Chemical |
| Key market players worldwide | BP PLC, Cenovus Energy, Chevron Corp, Equinor ASA, ExxonMobil, LUKOIL, Petroleo Brasileiro SA Petrobras ADR, TotalEnergies SE |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.0% of the global enhanced oil recovery market in 2019.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2027.
- In Middle East & Africa, Oman enhanced oil recovery market is projected to lead the regional market in terms of revenue in 2027.
- Oman is the fastest growing regional market in Middle East & Africa and is projected to reach USD 3,479.5 million by 2027.
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Enhanced Oil Recovery Market Scope
Enhanced oil recovery market segmentation & scope
Enhanced Oil Recovery Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ExxonMobil | View profile | 10001+ | Irving, Texas, United States, North America | https://corporate.exxonmobil.com |
| Cenovus Energy | View profile | 1001-5000 | Calgary, Alberta, Canada, North America | http://www.cenovus.com |
| LUKOIL | View profile | 10001+ | Moscow, Moscow City, Russian Federation, Europe | http://www.lukoil.com/# |
| Equinor ASA | View profile | 24467 | Forusbeen 50, Stavanger, Norway, N-4035 | https://www.equinor.com |
| BP PLC | View profile | 87800 | 1 St James's Square, London, United Kingdom, SW1Y 4PD | https://www.bp.com |
| Petroleo Brasileiro SA Petrobras ADR | View profile | 40213 | Avenida Republica do Chile, 65, Rio de Janeiro, RJ, Brazil, 20031-912 | https://www.petrobras.com.br |
| TotalEnergies SE | View profile | 100000 | 2, Place Jean Millier, La Defense 6, Courbevoie, France, 92400 | https://www.totalenergies.com |
| Chevron Corp | View profile | 45600 | 6001 Bollinger Canyon Road, San Ramon, CA, United States, 94583-2324 | https://www.chevron.com |
Saudi Arabia enhanced oil recovery market size, by technology, 2016-2027 (US$M)
Saudi Arabia Enhanced Oil Recovery Market Outlook Share, 2019 & 2027 (US$M)
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