“…This is achieved by orthogonally transforming the dataset into a new set of uncorrelated variables or principal components, which are computed from eigenvalue decomposition of the covariance matrix (Smith, 2002). The PCA technique has been successfully applied in areas including history matching (Sarma, Durlofsky, Aziz, & Chen, 2007;Yadav, 2006), reservoir property estimation (Dadashpour, Rwechungura, & Kleppe, 2011;Lee, Kharghoria, & Datta-Gupta, 2002;Scheevel & Payrazyan, 2001), and production data analysis (Bhattacharya & Nikolaou, 2013).…”