ESP meaning in Business ?

A submersible pump (or sub pump, electric submersible pump (ESP)) is a device which has a hermetically sealed motor close-coupled to the pump body. The whole assembly is submerged in the fluid to be pumped. The main advantage of this type of pump is that it prevents pump cavitation, a problem associated with a high elevation difference between the pump and the fluid surface. Submersible pumps push fluid to the surface, rather than jet pumps, which create a vacuum and rely upon atmospheric pressure. Submersibles use pressurized fluid from the surface to drive a hydraulic motor downhole, rather than an electric motor, and are used in heavy oil applications with heated water as the motive fluid.