- duration: 2 days
- level: Foundation
- format: Virtual course
- accreditation: CPD
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code: D13
format: Virtual course
duration: 5 days
level: Foundation
accreditation: CPD
participants: 10
availability:
$2,999.00
about the course
This course provides a comprehensive and practical understanding of methods of evaluation and classification of hydrocarbons resources and reserves (PRMS, SEC) and related issues, especially risks and uncertainties and how to assess/mitigate these risks and uncertainties.
course objective
The objective of the course is to provide a good understanding of evaluating and reporting oil and gas resources and reserves.
The following areas will be covered in some detail:
- The different international systems for definition & classification of petroleum resources and reserves
- The difference between reserves, contingent resources and prospective resources
- The different technical methods for estimating reserves and resources
- The evaluation methods of the risks and uncertainties related to reserves estimations
- The role of petroleum economics in reserves estimation
- The project-based approach adopted for reserves estimation
- The importance of determining the discovery status and commerciality in resources classification.
- Reserves and resources from incremental projects
- Deterministic and probabilistic methods for reserves and resources estimation
- Aggregation of reserves and resources
The course is designed for:
Geoscientists, reservoir engineers, asset managers, economists, government representatives interested or involved in resources and reserves estimation and reporting, as well as related risks & uncertainties assessment.
course content
DAY 1
Introduction to field development projects
- E&P field development projects workflow and decision-making process.
- Fundamentals of petroleum economics and economic criteria (NPV, IRR…).
- Oil & Gas resources and reserves definitions and classification:
- SPE definitions and guidelines. Petroleum Resources Management System (PRMS).
- SEC definitions and guidelines.
DAY 2
Basics of reservoir characterization & modelling
- Overview of rock and fluid properties.
- Basics of reservoir characterization and geo-modelling.
- Volumetric evaluation of Oil & Gas accumulations.
DAY 3
Reserves evaluation
- Review of Oil & Gas reservoirs drive mechanisms and related expected recovery factors.
- Analogs.
- Performance analysis:
- Material balance.
- Decline curves analysis.
- Simulation models.
DAY 4
Risks & uncertainties
- Concepts of risks and uncertainties.
- Risks: notions of probability and decision trees.
- Uncertainties:
- Statistical description of data.
- Common statistical distributions.
- Monte-Carlo and parametric methods.
DAY 5
Risks & uncertainties continue
- Uncertainties within E&P development projects:
- Structural, geological and dynamic uncertainties.
- Notions of geostatistics and stochastic modeling.
- Uncertainties assessment – Experimental design and response surface methodology.
- Learning objectives
Upon completion of the course, participants will be able to:
- Describe E&P field development projects workflow and related decision-making process,
- Define concepts of resources and reserves and describe the Petroleum Resources Management System (PRMS) and Securities and Exchange Commission (SEC) system,
- Discuss and apply main petroleum economical criteria affecting reserves evaluation,
- Discuss principles of reservoir characterization and engineering,
- Perform simple resources and reserves estimate,
- Discuss concepts of risks and uncertainties,
- Ddentify main sources of risks and uncertainties and discuss methods about integrating risks and uncertainties into resources and reserves evaluation: structural uncertainties, geological uncertainties, dynamic uncertainties, geostochastic modelling, etc.
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Oil and Gas Reserves Evaluation
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