Capstone Turbine (CPST) recently received an order for two C1000 microturbines for an offshore oil and gas platform in Africa. The two C1000s will run on flare gas to power artificial lift equipment, more specifically electrical submersible pumps that are used to increase oil production.
According to the International Energy Agency (IEA), Africa is expected to consume 4.5 million barrels of oil a day by the year 2020, up 29 percent from the present figure. This is more than twice the IEA’s projection for Asia and nearly four times the world-wide rate.
According to KPMG Africa, Africa’s proven oil reserves accounted for 10 percent of the world in 2012, or roughly 130 billion barrels. The artificial lift market was more than $9.2 billion in 2012 and is expected to grow to $16 billion in 2018. Africa and the Middle East are expected to represent 13 percent of this growth year over year.
Based on patented air bearing technology, Capstone microturbines do not require coolants or lubricants microturbines and are an ideal fit for oil and gas operations. These machines have higher levels of availability and operate for longer periods of time between maintenance intervals, when compared to reciprocating engines.
