The course provides the “big picture” on the concept for the classification and categorisation of petroleum resources and reserves. The “concept” has been elaborated in the industry guideline of Petroleum Resources Management System (PRMS) of SPE/AAPG/WPC/SPEE. The course starts with an overview of the basic principles of classification and categorisation to technically recoverable volumes. Discussions of the commercial criteria, project maturity driven sub-classification, probability based categorisation and the summary of adequate applicability of resource estimation methods will follow. Recommendations to avoid resources classification and categorisation pitfalls that can easily result in biased reserve reporting are also made. The course concludes with an overview of petroleum resource portfolio management.
Course Level: Advanced Instructor: Imre Szilágyi
Designed for you, if you are...
A member of the board, committee or formal organisation in charge of petroleum resources and reserves estimation, classification and categorisation
Working in a company which declares the adherence to PRMS in resource estimation, reserves evaluation and reporting
How we build your confidence
The key feature of the course is interdisciplinarity. Participants – independently of professional backgrounds – will gain confidence in the classification and categorisation principles of petroleum resource and reserves assessments.
The benefits from attending
By the end of the course you will feel confident in your understanding of:
The content beyond resource assessment terminologies
How commercial criteria are differentiating between contingent resources and reserves
The rationale behind project maturity sub-classification and its alignment with decision stage-gates
The probabilistic and deterministic resource/reserve assessment approaches
Resource estimation methodologies and the pre-requisites of their application
Classification of the technically recoverable volumes - The petroleum initially in place and the technically recoverable volumes - Resource classes (prospective, contingent, reserves) - The commercial criteria (economic viability, management engagement, marketability, availability of logistics, social acceptance) - The project maturity based sub-classification - Reserve status (undeveloped, developed)
Resources and reserves categorisation - The range of the uncertainty - Probabilistic (P90, P50, P10) and deterministic (low, best, high) estimates of the technically recoverable volume - The scenario based (1U, 2U, 3U; 1C, 2C, 3C; 1P, 2P, 3P) and the incremental (C1, C2, C3; P1, P2, P3) categories
Ambiguities in resource classification and categorisation & frequent pitfalls - Split conditions - Split classification - The misunderstood resource maturation - Is Proved (1P) proven?
Petroleum resources portfolio management - Volume aggregations: project - accumulation, field, corporate resources/reserves - Corporate resource/reserves records and reserve reporting - Resource tracking and forecast of resource/reserves replacement