Prodanalytics is the data analytic tool uesd for the analysis of reservoir production data for the oil and gas E&P companies to maximize their operational efficiency and production optimization.
The tool is used for cost and time saving for by oil and gas (E&P) companies by doing analysis through production data itself rather than numerical simulation. This approach saves month’s time for operators in numerical simulation studies as wells as purchasing expensive simulation software.
Using this tool, operators can know many aspects of reservoir, production and field development planning which can extremelly improve their operational efficiency without any involvement of simulation work.
The software assists in evaluation of dependency of predicting variables (Injection rates, Water Cut, GOR, Down-time, Pressures etc) on response variable (oil rates) through different statistical regression methods such as:
The tool makes it remarkably easy to optimise production efficiency through analysis of inter-dependencies of multiple parameters. It assists in developing statistical set of equations to demonstrate interdependencies of predicting variables vs. response variable for a certain test data (for e.g. an EOR). These statistical relationships can be tested on a broader data set (for e.g. multiple well patterns).