Artificial Lift Systems Market - Europe Holds a Substantial Share in the Global Market
It has been observed that at some point in their workable life, almost all oil wells need artificial lift systems. Of the nearly 2 mn operational oil wells across the globe, more than 90% which require some variety of artificial lift system to transport hydrocarbon to the surface at economical prices. As production capacities of most mature oil wells decline over the years, many forms of artificial lift systems can be implemented in unison to maximize recovery.
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