Realising EOR's actual potential

Enhanced oil recovery (EOR) has been around for a while and has a great potential to increase recovery at a reasonable cost. Even with the recent oil price drop of 50 per cent, EOR will play a major role in future hydrocarbon reserve additions. Indeed, using EOR on older conventional oil fields can be less expensive than exploiting other types of newer resources, such as deep water and heavy oil. This is partly because EOR has been consistently supported by various evolving technologies, enabling it to widen its application range with permanent progress in average recovery rates and cost reduction. EOR, as a result, is a credible option for any operator who wishes to invest in increasing production. The general expectation is for a considerable increase in the EOR market in the next few years, although forecasts vary. Some estimates suggest a spectacular growth of the EOR market in the upcoming years. The first part of this paper explores the main challenges that EOR must face in order to establish its intrinsic potential. The second part describes some solutions that could result in EOR prospects becoming a mainstay of the E&P industry.