Generic Algorithms for Multi-Timescale Oil and Gas Forecasting
Serafim Ltd announces a new Research and Development project co-funded by Invest Northern Ireland . This is a two-year collaboration which will provide FUTURE with a systematic and general framework for Oil & Gas production and forecasting.
Serafim has had great success in applying advanced mathematical optimization methods to solving oil & gas production, providing accurate and efficienct real-time diagnostics and long-range prognostics.
Serafim specialises in mathematical techniques that provide optimized oil & gas production. The enhanced software is based on a rigorous mathematical formulation of resource management, including multiphase flows and non-linear pressure constraints. as well as workover profiles and well locations etc.
DAMS and Bayesian methods
We are extending the deterministic mathematical framework for "decline analysis of macroscopic sweep" (DAMS) to take account of uncertainty and random events. The software enhancements include inferential resource models and stochastic methods for production forecasting.