Research on applied logistic growth model to forecast production for lower Miocene, Bach Ho field
Abstract
The paper presents the research on application of the logistic growth model to forecast production for the Lower Miocene in Bach Ho field by obtaining a set of decline curve parameters through fitting with production data using optimisation algorithms. The average relative error of the LGM model is 0.6%. The research results show that the logistic growth model has improved the ability to predict production with high reliability.
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