Web Toolbar by Wibiya

  • Mastering Petroleum Reserves Estimation, Classification and Reporting

  • Type
    Training
  • Training Code
    PST0152
Date Duration Location
03-Jun-13 5 days Kuala Lumpur, Malaysia


Course Overview

 

The evaluation and reporting of petroleum resources is an integral part of a petroleum company’s project and portfolio management process. Without an accepted classification and reporting standard, it will be difficult to objectively compare projects internally and for external agencies and investors to compare company assets and performance.

This course provides guidance on industry reporting standards based on the Society of Petroleum Engineers (SPE) Petroleum Resources Management System (PRMS).  PRMS is compared to the new US Securities and Exchange Commission (SEC) disclosure rules and the reporting requirements in other selected agencies.

PRMS is jointly sponsored by the SPE, the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG), and the Society of Petroleum Evaluation Engineers (SPEE) and endorsed by the Society of Exploration Geophysicists (SEG).

 

These same sponsors have formed a Joint Committee for Reserves Evaluator Training (JCORET) to review and endorse training courses in the area of resources assessment and reporting. This course is endorsed by JCORET; attendees are provided certificates of completion and registered for CEU credits.

 

Course Objectives :

  • GAIN an overview of the Petroleum Asset Life Cycle and key parameters, data and info needed for Reserve Estimations.
  • Gain an overview of international reserve estimation guidelines and reporting practice
  • UNDERSTAND the key definitions and classification guidelines for reserves and resources
  • DISTINGUISH between the various terminologies used in defining reserves and resources
  • DETERMINATION of Reserves by analogy volumetric techniques; by material balance, and focus with hands on exercises on
  • DETERMINATION of Reserves from conventional production data analysis and advanced decline curve analysis.
  • INTEGRATE both deterministic and probabilistic approaches to calculate reserves
  • OVERCOME the uncertainty faced in performing reserve estimation methodologies
  • APPLY the international reserve standards to accommodate and manage unconventional resources
  • LEARN about various compliant methods of generating and interpreting reserves report

Specially Designed for :

The course is designed for technical personnel and professionals involved in estimating, classifying, and reporting, or using reports of, petroleum reserves and resources based on SPE’s Petroleum Resources Management System (PRMS) and the US Securities and Exchange Commission (SEC) recently revised regulations. They include: Reservoir, Petroleum Engineers, Geoscientists, Project, Reserves and Engineering Managers, Accounting and Finance, Legal Counsel

Course Outline :

 

Day 1
provides a detailed understanding of the Life Cycle of a Petroleum Asset and the main parameters, data and info needed for Reserve Estimation.
 
Day 2
will focus on the intermediate to advanced reserve classification and the different bodies (SEC, SPE/WPC) guide lines and we will cover the reporting methods of Reserves
 
Day 3
Explains the major reserves and resources estimation methods employed from pre-discovery through to field abandonment and their interface into economic evaluations. Special techniques are presented to assess and classify unconventional resources.
 
Day 4
Focuses on determining reserves using Advanced decline curve analysis with hands-on case studies and field Exercises on the software
 
Day 5
Focuses Integrating the industry standard Reserve Definitions and Reporting Requirements with the Petroleum Economics and will go over the key aspects of Project Economics
 
 
 
Supported By:
WorldOils



Return to Training Matrix