pForecast

Smooth and efficient updates
of forecasts

What is pForecast?

Cloud-based statistical analysis software to digitalize, simplify, and standardize how production forecasts are generated and utilized 

pForecast uses input data from subsurface tools, i.e. Eclipse, Network models, ResX and performs a full life-time simulation of the production and injection forecast.  With pForecast users can assign uncertainties to input data and do stochastic analyses by running Monte Carlo simulations. 

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Why pForecast?

With pForecast, your organization will substantially save time and effort. 

Forecast of existing wells and future drilling takes production efficiency 
and capacity limitations into consideration in the simulation scenario.

 

Smooth and efficient updates

With pForecast, your organization will save substantial time and effort, and it is easy to establish updated production forecast when assumptions change.

Uncertainty as an integral part of the prognosis work

pForecast quantifies the uncertainties by using Monte Carlo simulations which allow forecasts with low, expected and high values to be created. 

Simplified reporting

Supports export to the company’s desired formats, including Petroleum Resources Management System (PRMS) and Norwegian Petroleum Directorate (NPD) standards.

Improved consistency

Based on cloud technology with user-friendly interface pForecast offers a uniform method for the company’s forecasting as a result of a common analysis framework across assets.

Effortless planning

It is easier to evaluate different planning scenarios using pForecast than with reservoir simulations alone. In pForecast, the switch from deterministic analysis to stochastic analysis is automatic! 

A great advantage is that when last-minute changes occur, then neither additional nor manual work is needed. In pForecast a heavy analysis from a reservoir simulation tool can be reused in a fraction of the time it would take to rerun the reservoir analysis itself. 

Mapping uncertainties in drilling schedules

For Exploration and Production companies it is important to take into account the uncertainties related to drilling. To meet this need, pForecast considers uncertainties involved in drilling schedules and rig availability. 

pForecast can automatically generate Gantt Charts for drilling schedules and show how uncertainty is propagating over drilling targets.

What our customers are saying

Forecasting and reporting of future production and injection

«Risk evaluation of production prognoses are commonly used within the oil and gas sector. What is unique with the Powersim Studio solution, is that uncertainties are considered an integral part of the prognosis work, not an activity applied after the base prognosis is established.» 

Frank Fosse, 
Senior Advisor, Equinor

Major Oil Companies Trust pForecast

Aker BP
Equinor

pForecast News

We would like to thank OTD Energy and Norwegian Oil & Gas for a fantastic fair.

Powersim Software had this opportunity to present pForecast alongside Aker BP. Together we gave a brief overview of The First Steps towards Automated Production Forecasts.

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Job opening Lead front-end developer

Would you like to be part of the technological transfer from oil and gas to more sustainable industries?
We will be posting new positions over the next few months.

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Supersprint 6 together with Aker BP

The pForecast team has finalized the second phase of the 6th Supersprint (SS#6) along with Aker BP. Phase 2 of SS#6 includes cutting-edge improvements for the end user, such as the possibility to limit production based on lack of injection.

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