Forecasting Crude Oil Production
Business Challenge
- Accurate forecasting of oil production rate in petroleum wells
- Limited to time series and based on heuristics and statistics
- Existing regression models are biased and less scalable
- Requirement of deep learning models for faster interpretations, as well support to perform what-if models
Business Objective
- Support a flexible implementation framework to perform advanced production data forecasting
- System should help to perform on-demand visualizations and analytics to understand production conditions and update based on what-if scenarios
- System should include neural network models for close-fit predictions
Solution
- Solution addresses the need for real-time dashboards for crude oil production forecasting using machine learning & deep learning models
- Handles real-time production data for forecast modelling
- Includes open API based adapters, analytical views, automation scripts & dynamic dashboards
Business Benefits
- Real time production performance KPI dashboards
- On-demand reports to summarize trends/outliers for liquid rate, pressure, gas-oil ratio, water cut, water injected, etc.
- Enables visibility to asset performance, prediction of production declines & production optimization (flow rate forecasting)
Our domain experts and technical consultants will help you with
- Adoption of advanced digital sustainable technologies
- Utilizing advanced knowledge, information management, and AI systems
- Agile and flexible enterprise capabilities and supply chains
- Innovation in products, services, and processes
- Close collaboration between industry and research to adopt new technologies
Contact us for a demo on our solutions & accelerators in Digital Oil & Gas
