Artificial Lift Systems Market
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Report Description<br />
The recovery of hydrocarbon resources from the reservoir occurs either through natural<br />
bottomhole pressure or by creating artificial pressure using artificial lift systems. The<br />
artificial lift systems market is expected to witness a moderate annual growth in coming<br />
years owing to strengthening of crude oil prices. According to Energy International<br />
Agency (EIA), Brent crude is anticipated to be traded at around $90 per Bbl by the end of<br />
2025. Further, the mature fields account for over 70% of the global oil & gas production.<br />
With recovery in prices of the global crude oil benchmarks, coupled with attempts to<br />
increase production from mature fields, the global artificial lift systems market is<br />
expected to witness increased revenues in coming years.<br />
Although, a number of Enhanced Oil Recovery (EOR) techniques are available for<br />
increasing the amount of hydrocarbon recovery, but they are considered as tertiary<br />
recovery system. The artificial lift system on the other hand is a primary recovery<br />
technique, which provides low cost and effective means of maintaining the desired<br />
production rate in a well. An artificial lift system is utilized to overcome bottom-hole<br />
pressure during the phase when natural bottomhole pressure is not enough to support<br />
the flow of hydrocarbons from reservoir to the well bore. The artificial lift system enables<br />
to overcome downhole pressure in order to maintain the desired production rate from a<br />
producing well.
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