Increasing deep and ultra-deep offshore and heavy oil production, enhanced production requirements in mature fields and growing energy demand drives the artificial lifts market. Redevelopment of fields and booming subsea operations promise the future of artificial lifts as viable opportunities.The artificial lift market is segmented as ESP, Rod Lift, PCP, Gas Lift, and other minor types of lifts. These lifts have purpose specific demands marking the individuality in the capabilities of each lift. These lifts are found useful in conventional crude production, unconventional crude productions, stripper wells, enhanced oil recovery processes, rehabilitation of fields, low API crude, deep and ultra deep offshore production and in the early production system. These lifts result in bringing an uneconomic well to economic levels of rendering profit and addressing demand.
Artificial Lift Market Worth $16.0 Billion By 2018
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