Microbial Enhanced Oil Recovery Market By Type (Biosurfactants, Biopolymers, Bio-solvents, Microbial Flooding, Selective Plugging); By Microorganism Type (Indigenous Microorganisms, Exogenous Microorganisms); By Application (Onshore Oil Fields, Offshore Oil Fields); By Geography, Segment revenue estimation, Forecast, 2024-2032.

The microbial enhanced oil recovery (MEOR) market in 2023 was worth USD 1.34 billion and is expected to be worth USD 2.82 billion by 2030, expanding at a CAGR of 9.75% during the forecast period.

 

The driving force in the microbial enhanced oil recovery (MEOR) market is the need of oil companies to boost the extraction of mature and declining oil reserves. About 70% of global oil resources are located in mature oil fields, which means the conventional methods of hydrocarbon production lead to the loss of a large share of resources. MEOR provides a unique and economic method of boosting the Courier recovery rates by approximately 15%. A recent example involves the use of MEOR in fields in the Middle East, where certain microbes are utilized to thin down the viscosity of crude oil, thereby enhancing flow and recovery. Further, the increasing demand for a more sustainable means of extracting oil has spurred advancements in biotechnological tools like granting specific microbes to certain reservoir environments, which enhances the application of MEOR in the industry.

 

The MEOR market has a vast opportunity to expand the usage of the already depleted and, more than ever, sixty percent of the global oil field. MEOR can recover up to 15% of the original oil in place and is considered more economical than other techniques such as water flooding and chemical EOR. For instance, MEOR is currently being implemented in some oil fields in North America due to the inefficiency of conventional methods in producing heavy oil reservoirs. A recent development involves creating fine-tuned microbial consortia to the prevailing reservoir conditions so as to improve oil recovery and lower interfacial tension. A recent development includes the use of advanced microbial consortia tailored to specific. This biotechnological approach not only maximizes output from declining fields but also aligns with the industry's push for more sustainable and cost-effective extraction methods.

 

 

Market Segmentation

Type:

• Biosurfactants

• Biopolymers

• Bio-solvents

• Microbial Flooding

• Selective Plugging

 

Microorganism Type:

• Indigenous Microorganisms

• Exogenous Microorganisms

 

Application:

• Onshore Oil Fields

• Offshore Oil Fields

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

North America was the largest region for microbial Enhanced Oil Recovery with a revenue share of 41% in 2023 due to its vast number of old fields and highly developed technologies For instance, producers in Texas have adopted some of the MEOR techniques to develop their mature fields to boost oil production without major costs of EOR. The newest practice identified here involves designing microbial solutions targeted at the geological characteristics of the reservoirs in the area to boost the efficiency of MEOR and assure higher rates of oil retrieval with less harm to the environment.

 

Key Players

• Schlumberger Limited

• Baker Hughes

• Halliburton

• Chemiphase Ltd

• Titan Oil Recovery, Inc.

• DuPont de Nemours, Inc.

• Gulf Energy SAOC

• Qingdao Zoranoc Oilfield Chemical Co., Ltd.

• Environmental BioTechnologies, Inc.

• StatOil (now Equinor ASA)

 

Microbial Enhanced Oil Recovery Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 1.34 billion
Revenue Forecast in 2030	USD 2.82 billion
Overall Growth Rate	CAGR of 9.75%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2023 - 2030)
Segmentation	By Type, By Microorganism Type, By Application, By Region
By Type	Biosurfactants, Biopolymers, Bio-solvents, Microbial Flooding, Selective Plugging
By Microorganism Type	Indigenous Microorganisms, Exogenous Microorganisms
By Application	Onshore Oil Fields, Offshore Oil Fields
By Region	North America, Europe, Asia-Pacific, LAMEA
Country Scope	US, Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Australia, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.