The Quiet Boom in Enhanced Recovery!

A forecast shows EOR spending climbing as mature reservoirs push operators toward smarter recovery methods

22 Oct 2025

Enhanced oil recovery (EOR) is gaining fresh attention as the world’s oilfields age. A market report released in October 2025 expects spending to rise from $47.6bn in 2024 to $68.4bn by 2033. Growth is steady rather than dramatic, driven by the simple fact that squeezing more oil from known reservoirs is cheaper and less risky than exploring for new ones.

North America remains the centre of activity. Its large stock of mature fields, and decades of work with thermal, chemical and CO2-based methods, give it an edge. Yet the report points to Asia-Pacific and the Middle East as the next big arenas. These regions face rising energy demand, waning reservoir pressure and government pressure to lift recovery rates.

Technology is changing the practice as much as geology. Advances in steam-based systems, surfactant and polymer flooding, and gas injection, especially with CO2 and nitrogen, are widening the range of viable projects. Digital tools are also making a difference. Real-time sensors and AI-driven reservoir models help firms design “smarter” floods that lift output while lowering the cost of each extra barrel.

A familiar set of firms stands behind this shift. Baker Hughes, BP, Chevron, ExxonMobil, Halliburton, Praxair, Shell, Schlumberger and TotalEnergies, along with Weatherford, are named in the report as central suppliers of kit, data and project expertise. Their appeal lies in their ability to offer standardised approaches to what are often complex, long-running ventures.

Field work suggests the market’s direction. In America, gas-injection pilots and foam-assisted schemes are extending the life of elderly reservoirs and providing a way to store captured CO2 underground. Similar efforts, including upgrades to separation units and liquids recovery systems, show that EOR ideas are spreading across industrial sites as well as traditional oilfields.

For investors and operators gathering at this year’s EOR conference, the message is clear. With a vast stock of ageing assets and mounting pressure to lift recovery while cutting emissions, EOR is set to remain part of the upstream toolkit. The sector is shifting toward capital-efficient projects built on predictable technology and deeper partnerships. An unglamorous but durable corner of the energy business awaits.