Dublin, Oct. 11, 2013 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/xrck96/artificial_lift) has announced the addition of the "Artificial Lift Market: By Types (Rod Lift, ESP, PCP, Gas Lift) & Geography - Global Trends & Forecasts to 2018" report to their offering.
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).
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.
Scope of the report
This research report categorizes the global market of artificial lifts in the oil and gas industry, on the basis of product types, and geography; forecasting revenue and analyzing trends in each of the submarkets.
On the basis of product type:
- Electric Submersible Pump (ESP)
- Rod Lift
- Progressive Cavity Pump (PCP)
- Gas Lift and others.
On the basis of geography:
- North America
- South & Central America
- Middle East and Africa
Key Topics Covered:
2 Executive Summary
3 Market Overview
4 Artificial Lift Market, By Lift Types
5 Artificial Lift Market, By Geography
6 Competitive Landscape
7 Company Profiles (Overview, Financials, Products & Services, Strategy, And Developments)*
- 7.1 Baker Hughes Inc.
- 7.2 Borets Company Llc
- 7.3 Can K Group Of Companies
- 7.4 Flotek Industries Inc.
- 7.5 General Electric Energy
- 7.6 Halliburton Company
- 7.7 J.J. Technical Services Llc
- 7.8 Jsc Alnas
- 7.9 Kudu Industries Inc.
- 7.10 Lufkin Industries Inc.
- 7.11 National Oilwell Varco Inc.
- 7.12 Norris Production Solutions
- 7.13 Novomet
- 7.14 Pcm S.A.
- 7.15 Schlumberger Limited
- 7.16 Tenaris S.A.
- 7.17 Torqueflow Sydex Ltd
- 7.18 Weatherford International Ltd
For more information visit http://www.researchandmarkets.com/research/xrck96/artificial_lift
Source:Research and Markets