Oil Reserves Calculations

Course Description

This course will give a full overview of all aspects of Reserves and Resource Volume estimation and reporting, including detailed technical calculation and forecasting, economic effects, commercial effects, and the impact on Corporate accounting. The various Reserves reporting authorities will be discussed along with examples of the impact of Reserves volumes on Corporate reporting.

 

Who Should Attend

Reservoir Engineers, Simulation Engineers, Integrated Reservoir Studies, Reservoir Managers, Geoscientists and Leaders involved in, or accountable for, Reserves estimation and Reporting.

 

Course Objectives

  • Explain the importance of effective Resource Volume estimation and reporting in Business.
  • Introduce Industry Standards such as SPE-PRMS and SEC
  • Explain the various resource volume categories from Prospective Resources through to Developed Reserves
  • Provide interaction and discussions over actual practical cases, diverse field case examples and applications
  • Introduce the technical and economic methodologies used to forecast Reserves
  • Explain in detail the treatment of uncertainty in Reserves estimation
  • Explain the impact on Reserves to Financial Accounting and Corporate Reporting
  • Introduce Corporate Governance of Reserves, staff capability management, and reporting.
  • Provide an overview of actual practices and regulations for reserves calculation, and reporting processes.
  • Transfer knowledge and experiences in reserves booking, audits and certifications.

 

Continuing Professional Development

35 HOURS CPD

 

Course Content

Day 1

Reserves Definition. Importance of Reserves. Quantification of oil, gas, and condensates reserves. Volumetric, Material balance, Decline Curve Analysis, Analogues, and Reservoir Simulation methods. Influence of sedimentology on the ultimate recovery factor.

 

Day 2

Reservoir Parameters influencing reserves: Pressure Regimes, Fluid Contacts, PVT Analysis. Recovery factors: primary, secondary & tertiary. Driving mechanisms, and its effects on recovery factor and reserves. Estimation of reserves associated to a well, reservoir, field, and projects. 

Expanded review of reserves estimation methods: Decline curves: Exponential, Hyperbolic and Harmonica. Material Balance. Numerical Simulation. Economics interrelations and cessation of production determination.

 

Day 3

Reserve calculations for gas reservoirs. Pressure Regimes, gas material balance, P/Z methods. Natural Depletion, Aquifers effects in Gas Reserves. Gas reserves under Pressure Maintenance, water injection gas injection & gas cycling.

 

Day 4

PRMS Petroleum Resources Management System SPE, APG, WPC, SPEE, SEG. Guidelines for PMRS Application: Reserves & Resources definition and categorization, seismic applications, Assessment of petroleum resources, Probabilistic Reserves Estimations. Aggregation of Reserves, Evaluation of Petroleum Reserves and Resources, Unconventional Resources, Production Measurement and Operational Issues, Resources Entitlement and Recognition, Reference Terms.

 

Day 5

Corporate Governance Reporting Systems, E&P Reserves and Resources Operating Standards, SEC regulations, SORP regulations and. Applications and Practical field cases and examples, general discussion and wrap-up.

 



DURATION

5 days

 

 

Location

Date

Tuition Fee

 

Dubai, United Arab Emirates

 

 

15-19 October 2017

 

 

£3050

 

  London, United Kingdom

 

 

20-24 November 2017

 

£3050 +VAT

 

     Houston, Texas, United States 

 

 

4-8 December 2017

 

£3050

 

 

 

 

 

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