Artificial Lift Market to Cross $10.8 Billion by 2023
Artificial lift is a method which is used on oil wells to increase the pressure within the reservoir, to encourage the oil to the surface. It is employed to recover more production, where the natural drive energy of the reservoir is not strong enough to push the oil to the surface. According to a research report published by P&S Intelligence, the artificial lift market was valued at $8,010.8 million in 2017 and is projected to reach $10,883.1 million by 2023,...
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