As the need for more exploration & production activities arises, oil and gas producers are keen to maximize the output from the existing assets and wellheads effectively, to keep up with increased demand and minimize costs. The recent technological developments like intelligent artificial lift in oilfield solutions are bolstering the market growth with the ability to pair advanced equipment with surveillance, data collection, and precise, real-time interpretation. Improved visibility into the overall processes has been possible with the incorporation of artificial lift systems as these smart systems assist operators in assessing well conditions more accurately in order to make informed decisions for optimizing operations.
With these systems, operators can use analytics to identify trends in well behavior and performance as well as effectively address any further possible lost production or downtime issues. Artificial lift systems also can collect and analyze energy data to help operators monitor the energy usage. The system can combine multiple data streams into a single data stream which is easier to analyze. The data streams could be - flow data, well-test data, well-completion data or even other surface-processing equipment data. This cloud-based data is easily accessible via desktop or mobile device.
Usually, when natural pressure can’t push the oil to the surface, artificial lifts improve production rate by using products working on motor generated motive force. The use of rod pumps, progressive cavity pumps, and electric submersible pumps increase the flow of crude oil from a well. These lift systems assist oil producers in gaining the primary business goals—optimized production and asset performance, increase visibility into operations, and reduction in operating costs. Furthermore, for significantly increasing production rates and reducing downtime, artificial lift systems with digital communication networks are a go-to system which uses real-time data from variable speed drives and sensors.