Orientation for incentive mechanisms and policies to encourage petroleum contractors to invest in enhanced oil recovery projects
Abstract
Enhanced oil recovery (EOR) projects can increase the amount of crude oil extracted. However, it is relatively expensive and risky, depending on the selection of appropriate EOR method, time of application and the Luck factor. In addition to determining the eligible fields for EOR application, the economic feasibility of EOR projects should also be taken into serious consideration. Due to the lack of incentive mechanism and policies for EOR in Vietnam, it is necessary to establish an effective regulatory framework to encourage contractors to apply EOR methods. This article summarises and unifies the concept for EOR and proposes the introduction of EOR incentives in Vietnam.
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