What Novomet does

Novomet is a Perm, Russia-headquartered oilfield services company founded in 1991 that designs, manufactures, and services electrical submersible pump (ESP) systems and artificial lift technologies for the global oil and gas industry. With 5,001–10,000 employees and a presence in 32 countries, the company positions itself as one of the largest dedicated ESP specialists, hyper-focused on completions and production enhancement rather than on exploration or drilling. Its offering targets major oil and gas operators seeking to reduce the cost of producing hydrocarbons from existing wells while lowering power consumption and environmental footprint, and the company reports 264.4 million kWh of electricity saved and 172,815 tons of CO2 emissions avoided through deployment of its PowerSave and SlimLine ESP product lines.

The core product portfolio is built around multiple ESP architectures: PowerSave ESPs with permanent magnet motors for reduced power draw, SlimLine compact systems for narrow wellbores, Colibri rigless ESPs that can be deployed without a drilling rig, Impala extended-range pumps, Low-Flow ESPs, Gas Management ESPs for high-gas wells, and Dual ESP systems enabling simultaneous multi-reservoir production from a single wellbore. Around the ESP base the company bundles Bypass (Y-tool) systems for live-well wireline access, Intelligent Well Technology for remote monitoring and control, rotary displacement and progressive cavity pumps (RDCP/PCP) for heavy oil, Horizontal Pumping Systems (HPS) and Mobile HPS for surface water/oil transfer and water-alternated-gas injection, surface fluid treatment and water filtration, well-completion products (flow control, lower completions, packers), and the Geyser Geothermal Pump as a renewable-energy extension. All products are designed and manufactured in-house.

Novomet monetizes through two streams: (1) hardware sales of ESP systems, pumps, surface systems, and completion components, and (2) associated professional services covering installation, maintenance, and optimization. Distribution is via direct enterprise field sales to oil and gas operators, supplemented by participation in flagship industry events such as ADIPEC, where the company exhibits (e.g., stand 13195, Hall 13, ADIPEC 2025). Pricing is quote-based and not publicly disclosed, consistent with industrial B2B oilfield equipment norms. Ownership is not publicly disclosed; no parent company, venture backers, or recent funding round are identified in the input beyond a 2011 investment involving Baring Vostok Capital Partners and RUSNANO.

Name

Novomet

Legal name

Novomet

Website

https://novomet-usa.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Novomet is a Russian-based oilfield services company specializing in electrical submersible pumps (ESPs) and artificial lift technologies for oil and gas operators globally. It designs and manufactures ESP systems, rotary displacement pumps, surface pumping systems, and geothermal solutions across 32 countries.

Ownership category

akta.pro rank

Product category

Artificial Lift and Oilfield Equipment

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Pump and Compressor Manufacturing (33391), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389), Pumps & Pumping Equipment (3561)

akta.pro primary industry

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)

akta.pro secondary industries

Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK), Positive Displacement Pumps (IMAHANAB), Pump & Compressor Packages (Skids, Booster Sets) (IMAHANAG)

Keywords

• Electrical submersible pumps
• Artificial lift systems
• Oilfield production equipment
• Well completion products
• Geothermal pumping systems

Headquarters

HQ city

Perm

HQ country

Russia

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. ESP Equipment Sales: Sale of artificial lift equipment including ESP systems, pumps, and components with in-house design and manufacturing capabilities.
2. Artificial Lift Services: Comprehensive services associated with artificial lift systems including installation, maintenance, and operational support.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Novomet designs, manufactures, and services electrical submersible pumps (ESPs) and artificial lift technologies for the oil and gas industry. The product portfolio spans PowerSave ESPs with permanent magnet motors, SlimLine and rigless ESPs, rotary displacement pumps for heavy oil, dual-ESP multi-reservoir systems, surface horizontal pumping systems, well completion equipment, and geothermal pumps. The company also delivers associated installation, maintenance, and optimization services across 32 countries.

Product overview

Novomet is an oilfield services company specializing in artificial lift and geothermal technologies. The product portfolio includes multiple electrical submersible pump (ESP) systems (PowerSave, SlimLine, Colibri Rigless, Impala, Low-Flow, Gas Management, Dual ESP), rotary displacement pumps (RDCP/PCP) for heavy oil, and surface pumping systems (HPS, Mobile HPS, fluid treatment, water filtration). The offering extends to well completion products (flow control, lower completions, packers, Y-tool bypass systems) and renewable energy solutions (Geyser geothermal pump). An intelligent well technology service enables remote ESP monitoring and control. Novomet provides both in-house manufactured equipment and associated artificial lift services, covering the full well lifecycle from geophysical operations through production, fluid transfer, and water injection.

Differentiator

Problem solved

Functional benefit

Brands

• PowerSave ESP: ESPs with permanent magnet motors designed to reduce power consumption
• SlimLine ESP
• Colibri Rigless ESP
• Impala Extended-Range ESP
• Low-Flow ESP
• Geyser Geothermal Pump
• HPS

Products and services

• PowerSave ESP Electrical submersible pumps equipped with permanent magnet motors designed to reduce power consumption and lower artificial lift costs.
• SlimLine ESP Compact electrical submersible pump system designed for narrow wellbore applications.
• Colibri Rigless ESP Rigless electrical submersible pump system that enables installation and retrieval without wellsite drilling rig equipment.
• Impala Extended-Range ESP Extended-range electrical submersible pump system designed for challenging well conditions.
• Low-Flow ESP Electrical submersible pump optimized for low-flow rate production scenarios.
• Gas Management ESP Electrical submersible pump system with integrated gas handling capability for high-gas-content wells.
• Dual ESP Dual electrical submersible pump system enabling simultaneous multi-reservoir production from a single wellbore.
• RDCP and PCP (Rotary Displacement Pumps) Rotary displacement and progressive cavity pump systems designed for heavy oil production applications.
• Bypass (Y-tool) System Y-tool bypass system enabling live-well wireline operations without interrupting ESP production.
• Horizontal Pumping Systems (HPS) and Mobile HPS Surface-based horizontal pumping systems including mobile variants for water transfer, oil transfer, water-alternated-gas injection, and booster applications.
• Surface Fluid Treatment and Water Filter Surface-level fluid treatment and water filtration systems for managing solids and processing produced fluids.
• Flow Control and Lower Completions Flow control equipment and lower completion systems for managing production flow within the wellbore.
• Packers Wellbore packer systems for zonal isolation and production management in well completions.
• Geyser Geothermal Pump Geothermal energy pump system for green energy alternative applications in renewable energy solutions.
• Artificial Lift Services Comprehensive service offerings including installation, maintenance, and optimization of artificial lift systems.

Quantifiable outcome

• 264,400,000 kWh of electricity saved with PowerSave and SlimLine ESPs
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• SLB (Schlumberger): SLB is the world's largest oilfield services company and offers the REDA ESP system as part of its broader artificial lift portfolio. While SLB competes with Novomet on ESPs, its scale, bundled service contracts, and global reach across drilling, completions, and production make it a broad incumbent rather than a pure specialist.
• Weatherford International: Weatherford provides artificial lift solutions including ESPs, gas lift, and rod pump systems as part of its broader oilfield services portfolio. It serves similar upstream customers as Novomet and competes in artificial lift design and installation.
• Baker Hughes: Baker Hughes offers the Centrilift line of ESPs and a broad artificial lift portfolio alongside its larger oilfield services business. It competes directly with Novomet on ESPs but operates across the full upstream value chain and has substantially larger resources and customer relationships.
• Halliburton: Halliburton is a major integrated oilfield services provider that competes with Novomet in artificial lift and completions. While it has a smaller dedicated ESP franchise than SLB or Baker Hughes, it overlaps with Novomet in production enhancement and well intervention services for upstream operators.
• National Oilwell Varco (NOV): NOV manufactures oilfield equipment including pumping units, fluid handling systems, and downhole components used by upstream operators. While its core focus is drilling and capital equipment, it overlaps with Novomet in surface pumping systems and oilfield fluid handling.

Emerging players

• Ormat Technologies: Ormat is a leading geothermal energy company that designs, manufactures, and operates geothermal power plants. It is comparable to Novomet as a potential customer or competitor for the Geyser geothermal pump product line and represents the renewable-energy adjacency Novomet is pursuing.

Direct peers

• Flowco Holdings: Flowco Holdings is a specialist in artificial lift and production equipment, including gas lift and plunger lift systems. It targets the same upstream operator customers as Novomet with comparable well-production optimization technologies and competes for artificial lift share.
• ChampionX: ChampionX is an artificial lift and production chemistry specialist serving upstream oil and gas operators globally. Its artificial lift business (including ESPs and rod lift systems) competes directly with Novomet's portfolio for the same operator customers focused on production optimization.
• Borets International: Borets is one of the world's largest manufacturers of ESP systems and a direct competitor to Novomet. Both companies specialize in submersible pumping and artificial lift for upstream oil and gas, serving the same operator customer base with similar equipment and service offerings.

Regional players

• Cryogenic Industrial Solutions (CIS) - Hydrauvision / Fraste: Fraste and similar regional pump and rig manufacturers supply artificial lift and pumping equipment to specific geographies. They are comparable to Novomet in offering specialized pumping products for oilfield and water-well applications but typically compete on a regional rather than global basis.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks2 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novomet