Reserves Classification and Categorisation
Short course
In Vienna (Austria)
*Indicative price
Original amount in EUR:
1,950 €
Description
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Type
Short course
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Level
Advanced
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Location
Vienna (Austria)
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Duration
2 Days
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.
Facilities
Location
Start date
Start date
About this course
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 • Volume aggregations (projects - accumulation; projects - fields; projects - portfolio)
This course is 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
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.
We look forward to hearing from you and endeavour to respond to your inquiry as quickly as possible!
Reviews
Subjects
- Reserves Classification
- Reserves Categorisation
- Petroleum Business Management
- PRMS Industry Guidelines
- Petroleum Reserves Assessment
- Assessment of Petroleum Resources
- Petroleum Economics
- Approaches to Reserves Assessment
- Portfolio Management
- Estimation Bias Analyses
Teachers and trainers (1)
Imre Szilágyi
Instructor
Course programme
- 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, 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, 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 - Estimation bias analyses
Additional information
Course Duration: 2 days
Course Location: Vienna, Austria
Course Fee: 1950 EUR + VAT
Applicable VAT will be added.
** 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. **
All our courses are held at top quality hotels with excellent meeting facilities.
Inquire for more details!
Reserves Classification and Categorisation
*Indicative price
Original amount in EUR:
1,950 €