Highlighting increasing value of artificial lifting

AS demand for oil and gas rises, so too will the need for artificial lift processes used to boost ageing reservoir output, a report by international research company GBI has
found.
The leading research, analytical and technical business information specialistrecently published its latest report: Enhanced Production Services Industry to 2016 – Enhanced Oil Recovery Driving E&P Activity in Depleting Hydrocarbon Reservoirs.
It provides detailed research relating to all aspects of the oil and gas industry, including: artificial lift processes; directional drilling technology and services; coiled tubing technology; enhanced oil recovery; sand control technology; solids control; pressure
pumping; well servicing; and logging and measurements while drilling. The area of artificial lift services picked up pace in 2011 as a result of increasing oil and gas demand in a market situation where global hydrocarbon consumption is expected
to grow at a rapid pace. This is a result of the higher demand requiring production levels to be enhanced beyond those achieved from naturally flowing reservoirs. Artificial lift processes increase pressure within well reservoirs, helping to move liquids and gasses to the surface. The technique is generally used to extract additional value from ageing reservoirs which no longer have the natural energy drive to push materials to the surface. The artificial lift is applied utilising mechanical equipment such as a pump placed inside the reservoir.
In its report, GBI forecast that expenditure on artificial lift processes would increase from 2011’s total of $6.18 billion to about $8.91 billion by 2016.

 

By Zana Kaic

2 Responses to Highlighting increasing value of artificial lifting

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