Top Enhanced Oil Recovery Companies

Global Enhanced Oil Recovery Market size was valued at USD 59.07 Billion in 2024 and is poised to grow from USD 62.44 Billion in 2025 to USD 97.28 Billion by 2033, growing at a CAGR of 5.7% during the forecast period (2026–2033). 

Global Enhanced Oil Recovery Market is moderately fragmented and competitive due to the presence of major players. To maintain a competitive edge and increase their market position leading companies are increasingly focusing on implementing tactics such as adopting new technology, product developments, mergers and acquisitions, joint venture, alliances, and partnerships. Key players include Halliburton Company, Chevron Corporation, Schlumberger Limited, Baker Hughes Company and TotalEnergies SE. In order to attract operators, businesses are investing heavily in research into ways to achieve more efficiency with lower expenses. Along with this, rising worries about environmental harm brought on by exponential drilling operations are probably going to present lucrative prospects for new market entrants. 'Halliburton (US) ', 'Schlumberger (US) ', 'Baker Hughes Company (US) ', 'Chevron Corporation (US) ', 'Royal Dutch Shell Plc (Netherlands) ', 'BP Plc (UK) ', 'TotalEnergies SE (France) ', 'ExxonMobil Corporation (US) ', 'ConocoPhillips (US) ', 'Occidental Petroleum Corporation (US) ', 'Statoil ASA (Norway) ', 'Petrobras (Brazil) ', 'China National Petroleum Corporation (China) ', 'Sinopec (China) ', 'Linde Plc (Ireland) ', 'Air Liquide (France) ', 'TechnipFMC (UK) ', 'ChampionX (US) ', 'BASF SE (Germany) ', 'Repsol S.A. (Spain)'

The market is expanding because to rising output from oilfields that are reaching maturity. Due to the rising demand for oil and gas, the corporations are keen to boost output from the established fields. By utilising EOR technology, the firms are presently concentrating on boosting recovery and prolonging the life of mature fields, exceeding production levels. This element will fuel the market for increased oil recovery.

The use of nanotechnology has provided answers to some of the difficulties plaguing the oil and gas sector, including hydraulic fracturing, EOR, flow assurance challenges, and problems with petroleum exploration, drilling, and completion. Due to their propensity to interact with the amphiphilic and macromolecular components of chemical EOR, nanoparticles have lately found use in this field. They react with polymers, surfactants, and foams, respectively, to produce polymeric nanofluids, nanosurfactants, and nano-stabilized foam. Numerous laboratory tests have demonstrated the effectiveness of recovering trapped oil from reservoirs using nanofluids (a combination of nanoparticles and aqueous solution). In order to improve their fluid property and increase their efficiency for EOR application objectives, nanoparticles are either utilised as nanodispersions (nanoparticle in aqueous water, alcohols, or brine) or as nanofluids (nanoparticle in chemical base fluids, such as surfactant or polymer).

North America region dominated the market of Global Enhanced Oil Recovery in 2021 and accounted for a revenue share of approximately 35% globally. The expansion of the regional market is mostly due to the United States. The country has a number of mature fields and unconventional oil and gas resources, which necessitate the use of cutting-edge extraction methods to increase output from already-existing wells. Leading Canadian exploration firms for oil and gas are also using Enhanced oil recovery technology to effectively recover oil from fields.