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The company plans to expand its use of carbon capture, use and storage technology to meet a sixfold increase in the utilization of CO2 for EOR over the next 10 years.
Middle Eastern oil and gas producers are now focusing on developing unconventional resources like heavy crude oil.
CO2 could unlock substantial tight formation returns.
Despite challenging economics, offshore EOR offers substantial returns.
Operators are finding value in CO2 recoveries.
Chemical-free water treatment process retains polymers to boost return on investment in production-enhancing flooding.
Companies are finding success and value in late-life recovery methods.
Investing in EOR research could result in long-term payoff.
Through its R&D arm, Saudi Aramco is working on various R&D projects in an effort to increase the recovery factor of reservoirs from 50% to 70%.
Norway wants oil companies to look into using specialized technology to pump more crude and natural gas, the country's petroleum regulator said June 15, potentially producing billions of extra barrels as well as tax revenues.
The move has been widely seen as a step to enhance domestic production and to reduce dependence on imports of petroleum products.
EOR and artificial lift systems are needed to rejuvenate the Cardenas-Mora and Ogarrio fields.