An electrical submersible pump system includes an electric motor operably coupled to a fluid pump which includes first and second fluid ports. The first and second ports are selectively operable as a fluid intake and a fluid discharge of the fluid pump with reversal of a direction of rotation of the fluid pump. Valves in the system are controllable to selectively direct fluid discharge of the fluid pump to an inflation volume of the inflatable packer and toward the surface in a wellbore tubing. The valves are further controllable to vent pressure in the inflation volume to deflate the packer.