Why Do you need Enhanced Oil Recovery ?
Enhanced Oil Recovery or EOR helps to maximize the oil reserves recovered, extend the life of fields, and increase the recovery factor. It is an important tool for firms helping to maintain production and increasing the returns on older investments.
Although, benefitting from the presence of existing infrastructure EOR technology is often costly and uneconomic. The high cost of EOR efforts has been deterrent to its wider use but, when economical, it can provide equivalent or lower cost barrels and when compared to new greenfield developments.
EOR will be an option to maintain or increase production for mature fields. EOR will continue to be an important technology to increase the value of the late life assets and as new techniques evolve EOR will play a greater role in the global supply of oil.