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 Resources (TRR). 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 Duration: 2 days Instructor: Imre Szilágyi
Designed for you, if you are...
A senior geoscientist, reservoir engineer or petroleum economist, engaged or involved in petroleum resources and reserves estimation, classification and categorisation
A member of the board, committee or formal organisation in charge of reserve evaluation, booking and reporting
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 Resources (TRR) - The Petroleum Initially In-Place and the Technically Recoverable Resources - Resource classes (prospective, contingent, reserves) - The commercial criteria (economic viability, management engagement, marketability, availability of logistics, legal and 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 and High Estimates - 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
Estimation bias analyses
Optional: Upon request the course can be extended to 3 days to include the comparison and alignment of the PRMS concept with the resources categorisation scheme of RF2013, the Oil and Fuel Gas Reserves and Resources Classification of the Russian Federation of 2013.