Produced Water Treatment Market – Snapshot

Produced water is an oil and gas industry term for any water that comes out of the oil or gas reservoir as part of the production process. Generally, produced water is a combination of formation water, connate water, and injected seawater; the concentration of each varies over field life. Oil reservoirs often contain large volumes of water, while gas reservoirs typically have smaller quantities. Oilfields produce more than 60% of daily produced water generated across the world. Recovery of produced water ranges from 85% to 100%. Therefore, reusing produced water in offshore and onshore oil field operations propels the demand for produced water treatment. More than 90% of the produced water is reinjected underground to maintain pressure in the reservoir. This offers growth opportunities to the produced water treatment market.

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Environmental stewardship is now becoming a key priority in the industry, especially among major oil producers. Rise in investments in exploration and production of offshore oil and gas is boosting the adoption of produced water treatment around the world. Upstream activities for the offshore oil & gas industry are expected to augment their production volumes, thereby driving the demand for produced water treatment. Discovery of new oil and natural gas reserves, especially in the offshore areas of the North Sea, offers significant potential for the produced water treatment market. Global price of crude oil has been rising at a steady pace since the beginning of 2018. Offshore and onshore exploration and production activities have also increased at a rapid pace. This is anticipated to fuel the demand for produced water treatment in the oil & gas industry in areas such as the North Sea in Norway and the Bakken field in the U.S.

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Growth in environmental concerns is compelling countries to generate power using renewable sources of energy such as wind, wave, and tide. Intensive collaborative research between governments and manufacturers that use advanced materials and computer-aided design techniques has led to the introduction of new generations of turbines and reciprocating engines. This has significantly increased equipment efficiency and reliability, while reducing costs and pollutant emissions for the installation of produced water treatment plants.

Governments of various countries have implemented policies and programs to promote the usage of produced water treatment with advanced technologies. Adoption of hydraulic fracturing techniques to extract oil and gas from shale formations leads to generation of surplus produced water. Reinjection of produced water in the onshore geologic formation helps eliminate the risk of seismic earthquakes. Governments are also providing subsidies to curb water pollution. Additionally, recovery of the economy in Europe, rapid urbanization in countries such as India and China, rise in global prices of crude oil, and increase in government