Applications of nanotechnology in several fields of petroleum industry, e.g., refinery, drilling and enhanced oil recovery (EOR), have attracted a lot of attention, recently. This research investigates the applications of nanoparticles in EOR process. The potential of various nanoparticles, in hybrid and bare forms for altering the state of wettability, reducing the interfacial tension (IFT), changing the viscosity and activation of other EOR mechanisms are studied based on recent findings. Focusing on EOR, hybrid applications of nanoparticles with surfactants, polymers, low-salinity phases and foams are discussed and their synergistic effects are evaluated. Also, activated EOR mechanisms are defined and specified. Since the stabilization of nanofluids in harsh conditions of reservoir is vital for EOR applications, different methods for stabilizing nanofluids through EOR procedures are reviewed. Besides, a discussion on different functional groups of NPs is represented. Later, an economic model for evaluation of EOR process is examined and “Hotelling” method as an appropriate model for investigation of economic aspects of EOR process is introduced in detail. The findings of this study can lead to better understanding of fundamental basis about efficiency of nanoparticles in EOR process, activated EOR mechanisms during application of nanoparticles, selection of appropriate nanoparticles, the methods of stabilizing and economic evaluation for EOR process with respect to costs and outcomes.

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