The behavior and properties of solutions of two-dimensional quadratic polynomial dynamical system on the phase plane of variables and time are considered. A complete qualitative theory is constructed which includes the analysis of all singular points and the features of solutions depending on all parameters of the problem. A main result is that, with the discriminant criteria created on the basis of the growth model constructed in the present study, it is possible to formulate practical recommendations for regulating and monitoring the process of waterflooding and the development of an oil field.