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Middle East and Africa Enhanced Oil Recovery Market
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Middle East & Africa Enhanced Oil Recovery Market Size
The Middle East & Africa enhanced oil recovery market size was valued at USD 4.8 billion in 2024 and is estimated to grow at a CAGR of 9.7% from 2025 to 2034. Rising energy demand across various industries along with production challenges from aging fields and mature wells, necessitating new solutions further complementing the industry landscape. Rising demand for petroleum products continues to increase, primarily due to expanding industrial activities and growing urban population along with companies implementing oil recovery techniques to optimize production efficiency further augmenting the business outlook.
To get key market trends
The integration of modern technologies and improved operational processes enables operators to maximize resource extraction from existing reservoirs will positively influence the business dynamics. Ongoing exploration initiatives across various regions help identify new potential reserves, while technological innovations enhance drilling precision and production capabilities.
Middle East and Africa Enhanced Oil Recovery Market Report Attributes
| Key Takeaway | Details |
|---|---|
| Market Size & Growth | |
| Base Year | 2024 |
| Market Size in 2024 | USD 4.8 Billion |
| Forecast Period 2025 - 2034 CAGR | 9.7% |
| Market Size in 2034 | USD 8.4 Billion |
| Key Market Trends | |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Middle East & Africa Enhanced Oil Recovery Market Trends
Middle East & Africa enhanced oil recovery industry is anticipated to grow on account of Population growth and urbanization have led to higher energy consumption, while industrial sectors require increased oil and gas production. Companies are developing hybrid systems that integrate surfactant or polymer with water flooding methods to lower operational expenses and ongoing adoption of microbial methods of oil recovery which reduce environmental effects will stimulate the industry outlook.
Companies conducting exploration activities and implement different methods to identify new oil and gas reserves across various geographical locations will complement the industry landscape. For instance, Saudi Aramco has invested USD 25 billion in natural gas infrastructure through multiple contracts to meet increasing gas demand.
The investment includes USD 12.4 billion for the Jafurah gas field development, which contains 75 billion stock tank barrels of condensate along with 229 Tcf of raw gas. The company allocated USD 8.8 billion to expand its gas distribution network, USD 2.4 billion for gas rig contracts, and USD 612 million for directional drilling.
Middle East & Africa Enhanced Oil Recovery Market Analysis
Learn more about the key segments shaping this market
Thermal segment is anticipated to cross USD 4.1 billion by 2034. The thermal recovery method heats the reservoir through steam injection, which decreases the thickness of heavy oils and improves their movement within the well. This technique performs particularly well in sloping, permeable, and substantial reservoirs, as it benefits from gravitational forces that aid in oil displacement while maximizing heat usage. These operational advantages contribute significantly to the increasing adoption of thermal recovery methods in oil extraction processes, further augmenting the industry landscape.
Learn more about the key segments shaping this market
The Middle East & Africa enhanced oil recovery market from onshore segment is projected to witness a CAGR of over 9.5% through 2034. Digital technology adoption in onshore enhanced oil recovery operations is increasing along with declining production from existing wells is shaping the onshore applications dynamics. Oil field operators are implementing integrated sensor systems together with advanced data analytics to collect and analyze real-time field information will positively influence the industry landscape.
Looking for region specific data?
Saudi Arabia enhanced oil recovery market is set to surpass USD 500 million by 2034. Continuous hydrocarbon resource discoveries coupled with government-backed oil recovery programs to increase operational efficiency and improved resource recovery rates will further complement the industry landscape. Accelerating exploration activities and production operations, supported by favorable government policies, further shaping the business dynamics. For instance, in May 2024, the national oil company Saudi Aramco revealed its strategic initiative.
The plan outlines 99 development projects scheduled for completion by 2026. These investments target increased oil and gas output, enhanced processing capabilities, and facility upgrades. The portfolio consists of 58 projects in the oil, gas, and petrochemical segments, complemented by 22 distribution network projects and 19 infrastructure developments.
Middle East & Africa Enhanced Oil Recovery Market Share
Key players in the Middle East & Africa enhanced oil recovery industry face intense competition, as companies are implementing strategic partnerships through joint ventures, mergers, and acquisitions to strengthen their market presence and advance technological capabilities. These business collaborations enable organizations to enhance their operational scope while fostering innovation in their respective sector.
Middle East & Africa Enhanced Oil Recovery Market Companies
Major players operating across the industry include:
- ADNOC
- Baker Hughes
- BP
- Chevron
- CNPC
- ConocoPhillips
- Dubai Petroleum
- ExxonMobil
- Halliburton
- Linde
- QatarEnergy
- Scimitar Production
- Shell
- SLB
- TotalEnergies
Middle East & Africa Enhanced Oil Recovery Industry News
- In April 2024, MYCELX Technologies Corporation secured a contract for produced water treatment during Enhanced Oil Recovery (EOR) production, marking its second REGEN installation with a Middle East producer. The contract follows the successful implementation of MYCELX's REGEN Retro-fit package in April 2024. The project, valued at USD 1.5 million, contributes to MYCELX's 2025 revenue projections. This agreement strengthens MYCELX's position in enhancing production performance, reliability, and water management efficiency during EOR production.
- In April 2024, SLB has made two strategic moves. First, it acquired ChampionX for USD 7.8 billion in stocks, gaining access to oil production chemicals that generated USD 3.8 billion in 2023 sales. Second, SLB merged its carbon capture unit with Aker Carbon Capture, taking an 80% stake in the combined entity. The deal involves a USD 400 million upfront payment to Aker, with potential additional payments of USD 125 million based on performance metrics.
The Middle East & Africa enhanced oil recovery market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Billion Barrels” and “USD Million” from 2021 to 2034, for the following segments:
Market, By Technology
- Gas
- CO2
- Nitrogen
- Others
- Thermal
- Steam
- In-situ combustion
- Hot water
- Chemical
- Polymer
- Alkaline
- Surfactant
- Others
Market, By Application
- Onshore
- Offshore
The above information has been provided for the following countries:
- Saudi Arabia
- UAE
- Oman
- Turkiye
- Nigeria
- Egypt
Frequently Asked Question(FAQ) :
Who are the major players in the Middle East & Africa enhanced oil recovery industry?
Major players include ADNOC, Baker Hughes, BP, Chevron, CNPC, ConocoPhillips, Dubai Petroleum, ExxonMobil, Halliburton, Linde, QatarEnergy, Scimitar Production, Shell, SLB, and TotalEnergies.
How much is the Saudi Arabia enhanced oil recovery market worth?
The Saudi Arabia market is set to surpass USD 500 million by 2034, led by continuous hydrocarbon discoveries and government-backed oil recovery programs to improve efficiency and recovery rates.
What is the growth outlook for the onshore segment in the Middle East & Africa enhanced oil recovery industry?
The onshore segment is expected to witness a CAGR of over 9.5% through 2034, supported by the adoption of digital technologies and declining production from existing wells.
How big is the Middle East & Africa enhanced oil recovery market?
The market size for enhanced oil recovery in Middle East & Africa reached USD 4.8 billion in 2024 and is set to grow at a 9.7% CAGR from 2025 to 2034, driven by rising energy demand and production challenges from aging fields.
