Forecasting the production of Distillate Fuel Oil Refinery and Propane Blender net production by using Time Series Algorithms

• URL: http://arxiv.org/abs/2208.05964v1
• Date: Sat, 4 Jun 2022 10:48:48 GMT
• Title: Forecasting the production of Distillate Fuel Oil Refinery and Propane Blender net production by using Time Series Algorithms
• Authors: Akshansh Mishra, Rakesh Morisetty, Rajat Sarawagi
• Abstract summary: Oil production forecasting is an important step in controlling the cost-effect and monitoring the functioning of petroleum reservoirs. Oil production is influenced by reservoir qualities such as porosity, permeability, compressibility, fluid saturation, and other well operational parameters.
• Score: 0.0
• License: http://creativecommons.org/licenses/by/4.0/
• Abstract: Oil production forecasting is an important step in controlling the cost-effect and monitoring the functioning of petroleum reservoirs. As a result, oil production forecasting makes it easier for reservoir engineers to develop feasible projects, which helps to avoid risky investments and achieve long-term growth. As a result, reliable petroleum reservoir forecasting is critical for controlling and managing the effective cost of oil reservoirs. Oil production is influenced by reservoir qualities such as porosity, permeability, compressibility, fluid saturation, and other well operational parameters. Three-time series algorithms i.e., Seasonal Naive method, Exponential Smoothening and ARIMA to forecast the Distillate Fuel Oil Refinery and Propane Blender net production for the next two years.

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