Owing to the inefficiency of the conventional primary and secondary recovery methods to yield above 20–40% of the OOIP (original oil in place) as incremental oil, the need for EOR (Enhanced Oil Recovery) techniques to recover a higher proportion of the OOIP has become imperative. ASP (Alkaline/Surfactant/Polymer) is one of such techniques that has proven successful due to its ability to improve displacement and sweep efficiency. Alkaline–surfactant–polymer (ASP) flooding is a combination process in which alkali, surfactant and polymer are injected at the same slug. Because of the synergy of these three components, ASP is widely practiced in both pilot and field operations with the objective of achieving optimum chemistry at large injection volumes for minimum cost. Despite its popularity as a potentially cost-effective chemical flooding method, it is not without its limitations. This paper therefore focuses on the reviews of the application of ASP flooding process in oil recovery in the petroleum industry and its limitations in maximizing oil recovery from onshore and offshore reservoirs. Also discussed are technical solutions to some of these challenges. Display omitted •ASP (Alkaline/surfactant/polymer) flooding improves displacement and sweep efficiency.•ASP EOR is a viable tertiary oil recovery technique for maximizing oil production.•ASP EOR technology can be taken to next level if better ASP systems are developed.•Some of its limitations need to be addressed to allow wide application of ASP EOR.