China is the largest importer of oil in the world. It is because of having the largest population in the world and the rapidly growing economy. The extraction of oil in this region has increased so the market for artificial lift systems is also growing at a rapid pace.
Artificial lift is a process used on oil wells to increase pressure within the reservoir and encourage oil to the surface. When the natural drive energy of the reservoir is not strong enough to push the oil to the surface, artificial lift is employed to recover more production.
While some wells contain enough pressure for oil to rise to the surface without stimulation, most don't, requiring artificial lift. In fact, 96% of the oil wells in the US require artificial lift from the very beginning.
Even those wells that initially posses natural flow to the surface, that pressure depletes over time, and artificial lift is then required. Therefore, artificial lift is generally performed on all wells at some time during their production life.
Although there are several methods to achieve artificial lift, the two main categories of artificial lift include pumping systems and gas lifts.
The most common type of artificial lift pump system applied is beam pumping, which engages equipment on and below the surface to increase pressure and push oil to the surface. Consisting of a sucker rod string and a sucker rod pump, beam pumps are the familiar jack pumps seen on onshore oil wells.
Another artificial lift pumping system, hydraulic pumping equipment applies a downhole hydraulic pump, rather than sucker rods, which lift oil to the surface. Here, the production is forced against the pistons, causing pressure and the pistons to lift the fluids to the surface. Similar to the physics applied in waterwheels powering old-fashion gristmills, the natural energy within the well is put to work to raise the production to the surface.
Electric submersible pump systems employ a centrifugal pump below the level of the reservoir fluids. Connected to a long electric motor, the pump is composed of several impellers, or blades, that move the fluids within the well. The whole system is installed at the bottom of the tubing string. An electric cable runs the length of the well, connecting the pump to a surface source of electricity.
What the Report Offers
1.1 Report Guidance
1.2 Markets Covered
1.3 Key Points Noted
2. Executive Summary
3. Market Overview
3.2 Market Definition
3.3 Premium Insights
3.4 Artificial Lift System Components
4. Drivers, Constraints and Opportunities
4.1.1 Increasing Drilling Activity
4.1.2 Need to Enhance Production Levels
4.1.3 New Exploration Activities
4.2.1 Equipment Costs
4.2.2 Lack of Skilled Labour
4.3.1 Increasing Subsea Drilling
5. China Artificial Lift Systems Market Analysis, by Installations
5.1 Electric Submersible Pump System
5.2 Progressive Cavity Pump System Component Market
5.3 Rod Lift Component Market
6. China Artificial Lift Systems Market Analysis
6.2 Market Demand to 2020
6.3 Recent Trends and Opportunities
7.2 Market Share of Key Companies, by Geography
7.3 Market Share of Key Companies, by Equipment
8. Company Profiles
8.1 Baker Hughes Inc.
8.2 Halliburton Company
8.3 Schlumberger Limited
8.4 Weatherford International Ltd
8.5 General Electric Energy
8.6 Borets Company Llc
8.7 National Oilwell Varco Inc.
8.8 Torqueflow Sydex Ltd
8.9 Compass Energy
8.10 Gulf Coast Pump & Supply
9. Competitive Landscape
9.1 Deal Summary
9.1.2 Private Equity
9.1.3 Equity Offerings
9.1.4 Debt Offerings
9.1.6 Asset Transactions
9.2 Recent Developments
9.2.1 New Technology Inventions
9.2.2 New Contract Announcements
10.3 Market Definition
10.3.3 Secondary Research
10.3.4 Primary Research
10.3.5 Expert Panel Validation
10.4 Contact Us