How can we improve oilfield production forecasting with predictive analytics?
                     HOW CAN WE IMPROVE OILFIELD PRODUCTION 
FORECASTING WITH PREDICTIVE ANALYTICS
HOW CAN WE IMPROVE OILFIELD 
PRODUCTION FORECASTING WITH 
PREDICTIVE ANALYTICS
• It's always been a challenge to estimate the reserves and 
predict production in oil and gas fields. The accurate analysis and 
estimation of reservoir behavior is very essential to assess the reserves 
and potential forecasts for production. The complexity of data, 
combined with limited analytical insights help to understand the 
integrity of wells under management. 
HOW CAN WE IMPROVE OILFIELD 
PRODUCTION FORECASTING WITH 
PREDICTIVE ANALYTICS
• All the processes in the oil and gas industry is exploration, 
development and production of crude oil or natural gas. The predictive 
analysis helps companies in asset maintenance improvement, 
exploration optimization, production optimization, risk assessment and 
drilling optimization. Based on this model, companies can easily 
identify which team with what kind of equipment can yield the highest 
work efficiency under specific geographic conditions.
THE MECHANISM OF PREDICTIVE ANALYSIS PROCESS
The predictive analytics process usually contains different  features and 
steps as follows;
• Define Business needs
• Data collection
• Data analysis
• Statistics 
• modelling and deployment. 
THE MECHANISM OF PREDICTIVE ANALYSIS PROCESS
• By establishing models, the companies can get maximum opportunities to capitalize on market conditions. 
In this process, the Predictive analytics, combined with decline curve methodologies, provides more 
informative forecasting results of future production. Different Reservoir simulation software also help to;
•  Access well and reservoir data quickly and easily with automated data profiling and time-series selection. 
• Apply analytical functions consistently using a forecasting solution that automatically selects the best 
model.
• Perform decline analysis quickly with a robust analytical engine to adjust, industry-standard default 
values. 
• Estimate unconventional sources of well production more accurately using best-fit prediction that uses 
smaller data sets when large volumes of historical data are not available.
AUTOMATED ANALYTICAL TECHNIQUES
• Different automated analytical techniques improve confidence in reserves estimation. These 
techniques also generate results your company can rely on for financial reporting. There are a lot of 
advantages of these techniques;
• Analytical techniques define the most statistically significant data set for the production forecast. 
• Analytical solutions normalize data distributions and minimize rogue values to ensure compatibility of 
data sets with curve type selection.
• Better predictions result from evaluating the performance of wells and reservoirs under simulated 
business and environmental conditions. 
•  Advanced data visualization identifies and visualizes problematic wells or reservoirs.
• Advanced analytical approaches go beyond business, as usual, to quantify measures of uncertainty, 
increase forecast robustness and deepen understanding of oilfield performance.
HOW PREDICTIVE ANALYTICS IS TRANSFORMING TECHNOLOGY?
• Different companies are using predictive analytics transforming their own 
technology and data capabilities to predict a better performing and sustainable 
future between operators, service providers and technology makers. Research 
proves predictive analytics are being tested and applied in: 
• Machine learning to improve safety improvement capabilities
• Unconventional wells to change management attitude
• Behavioral modelling to reduce the frequency of safety incidents
• Exploring fully automated drilling platforms
• Automated analysis of subsurface data
CONCLUSION
Different studies show how the experience of predictive analytics is used in 
consumer markets. It can provide better insights on how more accurate 
predictions are generated when multiple sets of data from different sources 
are gathered up.
THANK YOU
This presentation brought to you by Meera Simulation – A first hybrid 3D 
reservoir Simulator