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Published:
Sep 27, 2015DOI:
10.4314/njt.v34i4.14Keywords:
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Main Article Content
A Mathematical Model for Predicting Output in an Oilfield in the Niger Delta Area of Nigeria
Abstract
In this paper, a multiple linear regression model was developed for forecasting crude oil production volume in an oilfield in the Niger Delta area of Nigeria. Data of crude oil production volume and six significant parameters affecting crude oil volume were collected for a two year window. A six variable linear model was developed. The significance of each regression coefficient at in the six variable model was subjected to further analysis. The regression coefficient screening process resulted in a two variable model for predicting oil field output. The resultant model was found to have greater utility in predicting oil field output as it produced less residual. The present model can be of invaluable use to the oil field manager.
