The soaring growth in remote deepwater production activities is leading to something of a mixed future for the global, fixed, offshore-platform market.
With more than 95% of wells requiring artificial lift installation from the outset of production, selecting the appropriate artificial lift option is vital to production economics.
Sucker-rod systems are the most common artificial lift worldwide due primarily to low cost. Electric submersible pumps offer an alternate but more expensive solution for clean fluids.
Turkey warned off oil companies participating in the bidding round for tracts offshore Greek Cyprus and spudded an onshore well in the Turkish-controlled region of Cyprus.