Practice from ESP procurement to ESP leasing in the Baohai Bay

Electric submersible pump (ESP) is the most important offshore oil production equipment. Its lead time related to oil output and production cost of the whole offshore oilfield. Taking Bohai Bay as an example, ESP procurement was taken the place of by ESP leasing which could simplify the ESP procurement procedures, shorten delivery cycles, improve operating limitations, and extend the pump inspection cycle. Application and promotion of the leasing mode had achieved significant effects.