Oil and Gas
Oil and Gas | Commercial and Risk Analysis
PRMS Reserves & Resource Assessment
Course Code: N988
Course Outline:
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Format and Duration:
2 days
4 sessions
The course investigates the classification and categorisation of resources within the SPE-PRMS systems. By the use of particular case studies, the course studies the boundaries between class and category when assessing resources for management and financial disclosure. The methodology for assessing hydrocarbons-in-place and resources is explained and the significance of uncertainty is described. Both deterministic and probabilistic approaches to volumetric assessment are outlined. The engineering toolkit, using static, decline curve, material balance and reservoir simulation, is described. Practical exercises and illustrations of the pitfalls and issues in resource categorisation are illustrated by examples.
Schedule
Duration and Training Method
This is a classroom course comprising lectures, worked examples, case studies, discussions, and exercises.
Course Overview
Learning Outcomes
Participants will learn to:
- Evaluate the different categories of reserves and resources.
- Propose the reasons for uncertainty and the need to address it.
- Assess the volumetric derivation of resources, both deterministically and probabilistically.
- Appraise the limitations of resource assessment methods.
- Assure resource assessments by integrating the relationship between volumes, development plans and economics.
Course Content
Introduction
- List of issues to be covered
- Key concepts
- Resource definitions and guidelines
Primary Resource Estimation Methods
- History and principles
- Framework of resource classification
- Petroleum resource management systems
SPE- PRMS Scheme
- The Project - critical concept and basis for the system
- Risk and uncertainty concepts
- Classification and categorisation
- Contingent Resources rankings
- Commercial considerations
- Reserves check list and “real-life” examples
Resource Booking Approach
Other Reporting Systems
Estimation Tools (Part 1)
- Analogues
- Volumetric derivation of hydrocarbons in-place
- Principles of Monte Carlo analysis
- Reserves vs. Contingent Resources
Assessment of Recovery Factor (RF)
Risk and Uncertainty in Resource Estimation
- Understanding and assessing uncertainty
- Deterministic methods vs. probabilistic methods
- Correlations and dependencies
- Undiscovered resources
Estimation Tools (Part 2)
- Decline curves - Reserves category guidance
- Material balance and numerical simulation - principles, application, and limitations
Commercial Considerations
Case Studies
Who Should Attend and Prerequisites
The course is targeted at mid to senior level engineers and geoscientists needing to better understand the practice of Reserves and resource reporting.
Accreditation and Certification
CEU: 1.4 Continuing Education Units
PDH: 14 Professional Development Hours
Certificate: Certificate Issued Upon Completion
RPS is accredited by the International Association for Continuing Education and Training (IACET) and is authorized to issue the IACET CEU. We comply with the ANSI/IACET Standard, which is recognised internationally as a standard of excellence in instructional practices.
We issue a Certificate of Attendance which verifies the number of training hours attended. Our courses are generally accepted by most professional licensing boards/associations towards continuing education credits. Please check with your licensing board to determine if the courses and certificate of attendance meet their specific criteria.