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Artificial lift is a system used to increase the oil production from the oil reservoirs. Artificial lift comprises of the various components such as pump, motor, pump jack, drivehead etc. The integration of its components forms the artificial lift system. These are used to extract the oil from lowest depths of the reservoir to the surface level. Depleted oil reserves, maturing oil wells and declining oil reservoirs around the world are the major drivers for adoption of the artificial lift in the oil and gas industry.