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For decades, upstream operating companies have employed a variety of different pump systems to help increase production of mature wells and other production and product transfer applications, both onshore and offshore. This includes crude oil transfer, chemical injection for flow assurance or enhanced oil recovery (EOR), multiphase pumping in unconventional wells, subsea boosting, and increasingly, for CO2 injection for EOR.
Faced with today's declining oil prices, owner-operators, independent E&P companies, and other industry stakeholders are trying to squeeze out more profits per barrel-of-oil-equivalent. As a result, ARC Advisory Group is seeing increasing demand for intelligent pumps that not only improve pump availability but can also enhance operational performance and increase production and recovery rates. ARC recently published a market research study on this exciting and dynamic market. This ARC Insight highlights some of the key findings.
It well known that the era of "easy oil" has past, with "unconventionals" such as tight oil and shale gas, ultra-deep water, and subsea energy sources becoming the new normal. In this environment, owner-operators and independent E&P companies realize the value of investing in automation and other technology solutions to help drive down costs, enhance production, improve and/or enhance recovery, and help ensure more efficient operations with fewer experienced personnel. This includes intelligent pumps to support the emerging digital oilfield.
ARC Advisory Group clients can view the complete report at this Link.
If you would like to buy this report or obtain information about how to become a client, please Request ARC Info
Keywords: Artificial Lift, Diaphragm Process Pump, Electric Submersible Pump (ESP), Horizontal Multistage Centrifugal Pump, Jet Pump, Multistage Pumping, Progressing Cavity Pump (PCP), Reciprocating Rod Pump, Plunger Pump, Subsea Boosting, Twin Screw Pump, IIoT, ARC Advisory Group.