Description
This training presents a full overview of the Reserves and Resource Volume calculation concepts, definitions, procedures and reporting methods, including calculations applying volumetric methods, material balance, production decline analysis, and reservoir simulations for oil and gas reservoirs.
The reserves classification and categories is presented and discussed, with the technical details to be considered in the reserve’s calculations and forecasts; the economics and commercial variables effects in the reserves determination. A section will cover the corporate reserves accounting systems, and the various Reserves reporting authorities and Industry Standards such as SPE-PRMS, SEC and SORP systems. Uncertainty parameters and probabilistic methods applied by the oil industry to calculate the hydrocarbons oil in place, recovery factors and the reserves are covered, with field applications and examples.
- Present the importance of effective Resource Volume estimation and reporting in the oil industry context.
- Explain the various resource volume categories from Prospective Resources through to Developed Reserves
- Introduce industry standards such as SPE-PRMS and SEC
- 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 how the uncertainty analysis and risk mitigation concepts is managed in the reserve’s 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.
- Reservoir Engineers
- Simulation Engineers
- Integrated Reservoir Studies
- Reservoir Managers
- Geoscientists
- Leaders involved in or accountable for reserves estimation and reporting
Day 1
Introduction to Reserves
Definition. Importance of Reserves
Quantification of oil, gas, and condensates reserves
Volumetric methods, Material balance, Decline Curve Analysis, and Reservoir Simulation methods.
Application of reservoir parameters from analogues
Influence of sedimentology on the ultimate recovery factor.
Day 2
Reservoir Parameters
Reservoir Pressure Regimes, Fluid Contacts, PVT Analysis, rock properties. 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 and 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 (Security Exchange Commission)
SORP regulations (Statement of Recommended Practices)
Applications and Practical field cases and examples
General discussion and wrap-up
End of the training