New Energy research report from Markets and Markets is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 05/06/2013 -- Artificial lift is used to provide adequate pressure in a low reservoir pressure well to thrust the crude to the surface. This artificial lifting is executed using two methods - first method involves usage of a gas lift to create the upward movement of produced fluids; the other lifting method uses the support of downhole pumps which function with electricity. The lifts can be widely classified by their movement as positive displacement pumps and dynamic displacement pumps.
Artificial lifts are suitable for conventional crude production, unconventional crude production, deep and ultra-deep offshore production, rehabilitation of fields, redevelopment of mature fields, low API crude, early production systems, enhanced oil recovery methods, other recovery methods such as Steam Assisted Gravity Drainage (SAGD), Circulated Steam Simulation (CSS) and Cold Heavy Oil Production (CHOPS).
View Full Report Details and Table of Contents
Conventional methods of recovery activities need to be revived to parallel production to the current levels of demand. About 70% of the global crude oil production is derived from mature fields, of which, most experience reservoir pressure deficiency, which is a crucial production parameter. This situation necessitates the entry of artificial lift equipment. E&P industry's focus shift towards unconventional hydrocarbon sources and subsea operations is due to the falling profits from older fields that are in dire need to undergo redevelopment. There is also a need for growing global energy demand. Artificial lifts of various types support different purposes which encompass all types of recovery activities from transforming stripper wells into financially viable wells, to bituminous crude production and high operating volume offshore production.
Growing production in some parts of the world such as Canada and Venezuela promise the growth of artificial lifts, fields in the Middle East region are undergoing redevelopment, processes where the use of artificial lifts is inevitable. Russia is currently a successful market and also is a prospective market considering its high production from mature fields which require artificial lifts to have successful production rates. South Eastern countries which have been engaged in offshore production for decades demand these lifts to enhance production rates. The fastest growing region is expected to be South & Central America, followed by Middle East and Africa. Currently, the most active market is North America, followed by Europe, reasoned by active implementation of development strategies.
We have used various secondary sources - encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of the artificial lift market. The primary sources - experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of artificial lifts.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Energy research reports at Fast Market Research
You may also be interested in these related reports:
- Oil and Gas Enhanced Production Services Industry to 2016 - Enhanced Oil Recovery (EOR) Driving E&P Activity in Depleting Hydrocarbon Reservoirs
- Global Shale Gas Market by Technology, Geography, Applications, Regulations, Ethylene Production, Market Trends & Forecasts (2011 - 2021)
- Coal Bed Methane (CBM) Market by Technology, Geography, Application, Regulation, Market Trends & Global Forecasts (2011 - 2021)
- Energy Efficient Motors Market (2013-2018): By Product, Type, and Application
- Global Smart Meter Market by Shipments, Types, Geography, Applications, Regulations Market Trends & Forecasts: (2011-2016)
- Global Specialty Oilfield Chemicals Market by Types, Applications, Trends & Forecasts(2011-2016)
- Global Fuel Cell Market by Technology, Application, Type, Geography, Fuel, Installation, Trends and Forecasts (2011 - 2016)
- Global Hydrogen Generation Market by Merchant & Captive Type, Distributed & Centralized Generation, Application & Technology - Trends & Forecasts (2011 - 2016)
- Emission Control Systems Market for Power Plants- Global Market Size, Competitive Analysis, Trends and Analysis to 2020
- Context-Aware Computing (CAC) Market - Global Advancements, Emerging Applications, Worldwide Forecasts & Analysis (2013 - 2018)