Statistical analysis of dynamics of decrease in oil production after well interventions

Abstract

The paper is based on the theoretical aspects of studying the success of oil production projects. To conduct clustering based on the empirical data from the producing well stock, a classifier has been compiled describing the types of interventions in 2013-2018. The selection of indicators was carried out on the basis of theoretical qualitative analysis. The following statistical indicators were included in the study information base: well profile, well diameter, field, horizon, and oil flow rate. The dynamics of the oil flow rate is translated into a comparable form using time synchronization. Since the initial attribute space is represented in various units of measurement, in order to ensure comparability, at the stage of formation of information array, standardization of indicators was carried out to the maximum. The interventions revealed the following combinations of factors which showed the greatest effect in terms of growth and total oil production: well profile, well diameter, field, as well as critical factors that can be interpreted as factors of ineffective interventions. The obtained factors were verified by various methods of multivariate statistical data analysis. The author suggests conclusions and recommendations for the most efficient interventions in oil wells.

Predictive Scenarios of the Russian Oil Industry; with a Discussion on Macro and Micro Dynamics of Open Innovation in the COVID 19 Pandemic

“…On the other hand, countries such as Saudi Arabia and Russia did not at first consciously slow down the rate of resource production fearing that their share of the common market would be taken by the rest of the participants. This led to the outbreak of the “oil war” [ 12 , 13 ]. These countries are among the leaders in oil production, so lowering oil prices over a longer period of time will only harm their economies in the long run.…”