Enhanced oil recovery market is expanding as depleting conventional oil reserves increase the need for tertiary recovery techniques in mature fields. Government-backed CO2 incentives and growing CCUS infrastructure are accelerating adoption, particularly in North America and the Middle East.
Hyderabad, India, May 22, 2026 (GLOBE NEWSWIRE) — According to Mordor Intelligence, the global enhanced oil recovery market is set to rise from USD 50.46 billion in 2026 and is projected to reach USD 60.21 billion by 2031, registering a CAGR of 3.6%. Growth is being driven by rising investment in mature field optimization instead of new exploration activities. Thermal recovery methods continue to dominate due to their cost-effective performance in heavy-oil reservoirs, while CO₂-based EOR projects are expanding rapidly alongside CCUS infrastructure development. In addition, the integration of real-time production analytics and advanced reservoir modelling is helping operators reduce lifting costs and improve recovery efficiency. Rising CO2 supply from blue and green hydrogen projects, along with advances in digital-rock analytics and low-salinity nanofluid blends, is improving recovery efficiency and lowering operational costs, supporting market growth.
“As recovery optimization remains a priority across mature oilfields, stakeholders require a clear view of evolving project activity, technology adoption, and regional investment patterns” says Himanshu Vasisht, Senior Research Manager, Mordor Intelligence. “This study applies a consistent research framework and multi-source validation process to provide decision-useful insights that support more informed planning than reports built on limited or less transparent methodologies.”
Enhanced Oil Recovery Market Trends and Insights
Aging Reservoirs Increasing Demand for Advanced Recovery
Declining output from mature oilfields is encouraging operators to adopt tertiary recovery techniques to maximize extraction from existing reservoirs. Technologies such as digital reservoir modelling and advanced imaging are helping improve recovery efficiency while reducing the need for extensive drilling, supporting steady growth in the enhanced oil recovery market.
Policy Support and Carbon Capture Expansion: Strengthening Adoption
Government incentives for carbon capture and storage projects are improving the commercial viability of CO₂-based recovery methods. The integration of carbon capture, transport, and injection infrastructure is attracting investment while aligning oil production with emission reduction goals, creating long-term opportunities for the enhanced oil recovery market.
Declining Pressure in Mature Fields Supporting EOR Deployment
Oilfields across North America and the Middle East are experiencing pressure decline, increasing the need for gas injection and repressurization methods to sustain production. Existing infrastructure in these regions also reduces project costs, making EOR deployment more economically attractive for operators.
Enhanced Oil Recovery Industry Segmentation Insights:
By Technology
- Gas Injection (CO2 Miscible Flooding, Nitrogen Injection, Hydrocarbon Gas Injection)
- Thermal Injection (Steam Flooding, In-situ Combustion, Cyclic Steam Stimulation)
- Chemical Injection (Polymer Flooding, Surfactant-Polymer (SP), Alkali-Surfactant-Polymer (ASP), Nanofluid EOR)
- Microbial EOR (Biosurfactant Flooding, Biopolymer Flooding)
- Hybrid and Emerging (Low-Salinity Waterflooding, CO2-WAG, EM-Assisted Heating)
By Reservoir Type
- Sandstone
- Carbonate
- Heavy Oil and Bitumen
- Tight/Shale
By Field Maturity
- Mature Fields
- Brownfields
- Greenfields
By Location of Deployment
- Onshore
- Offshore
By Geography
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
For a full breakdown of market size, segmentation data, and competitive intelligence, access the details of the Mordor Intelligence report: https://www.mordorintelligence.com/industry-reports/enhanced-oil-recovery-market?utm_source=globenewswire
Regional Market Share by Region
North America continues to dominate the enhanced oil recovery market due to widespread CO₂ flooding projects and supportive carbon capture incentives across the United States and Canada. Strong pipeline infrastructure and integrated carbon management strategies are further supporting long-term project development.
Asia-Pacific is emerging as the fastest-growing region, driven by expanding polymer flooding and gas injection projects in China and Southeast Asia. Increasing investments in CCUS infrastructure, hydrogen-linked CO₂ supply networks, and offshore recovery technologies are accelerating regional adoption.
Europe is witnessing stable growth as North Sea operators combine carbon storage initiatives with advanced drilling techniques to extend field life. In the Middle East, major oil producers are increasing the use of miscible gas injection in mature carbonate reservoirs, while South America is focusing on reinjection systems and hybrid recovery methods in offshore and heavy-oil assets.
Enhanced Oil Recovery (EOR) Companies:
- Baker Hughes Company
- Schlumberger Ltd.
- Halliburton Company
- Exxon Mobil Corp.
- Shell plc
- BP plc
- TotalEnergies SE
- Chevron Corp.
- Weatherford International plc
- Praxair/Linde plc
- Occidental Petroleum Corp.
- Denbury Inc.
- Cenovus Energy Inc.
- China National Petroleum Corp. (CNPC)
- Sinopec
- Petrobras
- Petronas
- ConocoPhillips
- Eni SpA
- EOG Resources
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