N952 Resource Assessment and Assurance
N952 Resource Assessment and Assurance
The course investigates the classification and categorisation of resources within both the SEC and the SPE-PRMS systems. By the use of particular case studies, the course rigorously 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.
This is a three-day classroom-based course with worked examples, case studies, exercises and discussions.Classroom lectures will be supported and illustrated by case studies, hands-on exercises and discussions.
Participants will learn to:
a. List of issues to be covered
b. Key concepts
c. Resource defi nitions and guidelines
2. Primary resource estimation methods
a. History and principles
b. The framework of reserves classifi cation
c. Petroleum resource management systems
3. SPE- PRMS Scheme
a. The Project - critical concept and basis for the system
b. Risk and uncertainty concepts
c. Classifi cation and categorisation
d. Contingent Resources Rankings
e. Commercial Considerations
f. Reserves Check list and “real-life” examples
4. What is the SEC Scheme?
a. SEC - Post 2010
b. Comparison between the SEC and SPE-PRMS systems
5. Resource Booking Approach
a. Booking of reserves and contingent resources
6. Other Reporting Systems
a. How do other systems map onto the SPE-PRMS system?
7. Estimation Tools – Analogues
a. What constitutes an acceptable analogue?
8. Estimation Tools - Volumetric derivation of hydrocarbons in-place
a. Simple exercise
b. Principles of Monte Carlo analysis
c. Reserves vs. Contingent Resources
9. Assessment of recovery factor (RF)
a. RF rules of thumb for various reservoir mechanisms
10. Risk and uncertainty in resource estimation
a. Understanding and assessing uncertainty
b. Deterministic methods vs. probabilistic methods
c. Correlations and dependencies
d. Undiscovered resources
11. Estimation Tools – Decline curves
a. Reserves category guidance
b. Unconventional gas
12. Estimation Tools – Material Balance and Numerical Simulation
a. Principles, application and limitations
13. Commercial Considerations
a. Different contract types
14. Case Studies
a. Group Discussion
The course is targeted at mid to senior level engineers and geoscientists needing to understand better the principles and practice of reserves and resource reporting.
Click on a name to learn more about the instructor
Mark has 28 year’s broad-based petroleum engineering experience working in integrated project teams and reservoir development. He has strong North Sea background with more international experience in the last 10 years. Mark possess good exposure to projects and production management, and has excellent experience of Operated Appraisal & Development Projects, including:-
HPHT appraisal & development strategy. Deep-water developments, Complex ”designer” wells, horizontal and extended reach wells. Formally Head of Petroleum Engineering for BG Group, Currently Head of Reservoir Engineering at RPS Energy.
N952: Resource Assessment and Assurance
Gordon has degrees in geology and engineering and has over 35 year’s oil and gas experience the upstream oil and gas industry largely with Shell and latterly RPS. He has broad geophysical and geological knowledge which has been applied to exploration play analyses through to field development projects in most basins in the world. He is highly experienced in asset valuation, economic analysis and new business development. Since 2003 Gordon has been Director of Geoscience, Subsurface and then Managing Director of Consulting for RPS Energy. He semi-retired in 2016 and is now Director of Consulting.
Gordon is a Chartered Engineer and Chartered Geologist in UK and a Certified Geologist in USA. With these professional qualifications he has been the principal author of numerous public-domain Reserves reports, Competent Persons Reports and due diligence reports using various international reporting standards. Experienced in resource assessment of unconventional hydrocarbons particularly shale gas.
He has significant business experience gained in developing a major international independent consultancy offering a broad range of expertise and experience
N988: PRMS Reserves & Resource Assessment
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