Reserves and Resources Evaluation
BACKGROUND:
Understanding and calculating oil & gas reserves is a vital part of reserves and resources evaluation. Moreover, it is essential for asset management, investment decisions, and ensuring regulatory compliance. Therefore, this training provides a clear overview of reserves and resources definitions using SPE PRMS guidelines. In addition, it covers U.S. SEC regulations and Indonesian regulatory frameworks. As a result, participants will learn the differences between these frameworks and their real-world application.
Furthermore, the course highlights the integration of geoscience and engineering methods in reserves estimation. It also discusses ethical considerations, documentation practices, and audit processes. Through hands-on exercises, case studies, and examples, participants will strengthen their skills. Consequently, they will gain confidence to prepare, defend, and present reserves evaluations.
Finally, these evaluations will align with industry standards, regulations, and local government requirements.
OBJECTIVES:
• Interpret and apply the 2018 SPE-PRMS reserves definitions and principles.
• Interpret and apply US SEC reserves definitions under SEC reporting regulations.
• Understand applicable Indonesian regulations related to reserves reporting and evaluation.
• Generate compliant reserves estimates using deterministic and probabilistic methods.
• Analyze reserves using classical and advanced evaluation techniques (volumetric, material balance, and decline curve analysis).
• Understand the link between reserves estimation and project economics.
• Apply probabilistic methods and Monte Carlo simulation for uncertainty assessment.
• Prepare for audits, documentation, and defend reserve estimates for external and internal purposes.
• Document and defend your reserve estimates for external inspection or internal historical records
• Demonstrate the reliability of modern techniques in your reserve estimates
Recommended Participants
• Geologists, geophysicists, and reservoir, production engineers.
• Reserves managers, project evaluators, and financial analysts.
• Auditors, and government officials involved in reserves reporting and evaluations.
Course Outline
Fundamentals of Reserves & Resources
• Introduction to Resource Classification (SPE PRMS 2018)
• Overview of Reserves and Resources Categories
• Deterministic Reserves Estimation Methods:
o Analogy
o Volumetric Calculations
o Recovery Factors
• Deterministic Analysis: Field Example
Advanced Deterministic Methods & Economics
• Material Balance Analysis
• Classical Decline Curve Analysis
• Advanced Decline Curve Analysis
• Linking Reserves to Project Economics and Valuation
• Descriptive Statistics for Reserves Evaluation
• Deterministic Analysis on an Example Field
• Special topics: case studies, reserves in unconventional reservoirs and/or IOR/EOR projects, ethics
Probabilistic Methods & Uncertainty
• Basics of Probability and Probability Distributions
• Expected Value and Decision Trees
• Probabilistic Reserves Estimation Methods
• Monte Carlo Simulation for Reserves Evaluation
• Case Studies: Application in Conventional & Unconventional Reservoirs
• Documentation, Ethics, and Audit Preparation (including compliance with Indonesian regulations)
About The Course Leader
Prof. Dr.-Ing. Bonar Tua Halomoan Marbun