Fundamental Approaches and Requirements to Assessing the Effectiveness of Adopting Submersible Electric Plunger Pumps for Use on Low-Flowrate Oil and Gas Wells

This paper dwells upon the fundamental approaches and requirements to assessing the effectiveness of adopting production machinery in oil and gas operations. Optimizing the operation of a well is a fundamental problem in mechanized oil and gas production. What makes the problem so difficult to solve is the multitude of variables affecting the cost-effectiveness of the process. For instance, mean time to repair and mean time between failures are difficult to predict whilst specific energy consumption can be objectively estimated by instrumental monitoring that helps with calculations intended to determine the cost-effectiveness of various operations on a specific well. Notably, recent growth in electricity prices forced all major oil companies to seek more energy-efficient production. Given that oil and petroleum products account for >46% of the world's energy, and how power usage is distributed among different components of the oil production process with mechanized production accounting for 56%, designing novel energy-efficient equipment is imperative in the market economy. Funding information. The publication has been prepared with support of the RUDN University Program 5-100. © 2020 IEEE.