PRODUCTIONFORECASTER

The most reliable production forecast software. And the fastest too.

Relies on past production data and embarks other key inputs (well completion, PVT, permeability…).
FOROIL sets up a bespoke Production Forecaster™, with the sole objective of calculating future production per well, pursuant to the principles of statistical learning theory and constrained by the physics of the reservoir and wells.
This original and patented approach leads to 95% accuracy and high speed (a few seconds per run).

Fact: a Reliable Forecast

Genuine modeling reliability is explained by Statistical Learning Theory (Vapnik), and is demonstrated in practice by performing blind tests.

A blind test compares the Production Forecaster™ calculation based on activities actually conducted on the field on the one hand, with the recorded production data on the other hand, the latter being kept hidden from FOROIL until the calculation is released. FOROIL Production Forecaster™ achieves a 95%+ accuracy.

Focused on mature fields

It applies to mature fields, as soon as they have accumulated sufficiently rich data (typically seven to ten years of production).

The complexity of the Production Forecaster™ is tuned in such a way it is comprehensive enough to include all key phenomena in the field, yet remaining simple enough to be calibrated unambiguously (US Patent pending).

No assumption needs to be made about geological properties, as their impact on production is already included in past data. This maximizes the reliability of the forecast.









A novel approach

FOROIL Production Forecaster™ is quite different from other solutions available in the industry:

The learning process of past production data is constrained by the laws of reservoir and well physics.
Physics is coherently embedded at all relevant scales (wells, groups of wells, reservoir, surface), in a systemic approach.
The Production Forecaster™ is constructed according to a (patented) industrial process, relying on increasingly complex models.
As a result, the forecast accuracy is ensured, even far from current functioning conditions (with the same recovery technique).

(Very) Fast forecast

Owing to its moderate complexity, the Production Forecaster™ is by construction quick to compute: it calculates any production forecast, well by well, month by month, over five years, in a matter of seconds.




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