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CODE: OG33 DURATION: 1 Week/2 Weeks
CERTIFICATIONS: CPD
Petroleum reserves estimation and uncertainty analysis focus on methodologies, best practices, and regulatory frameworks for hydrocarbon reserves assessment. The course covers reserves classification, estimation, and reporting under the 2018 SPE PRMS and SEC regulations. Participants will explore volumetric analysis, material balance, decline curve analysis, and probabilistic methods like Monte Carlo simulations. Geological factors, recovery mechanisms, and economic influences on reserves estimates are examined. Case studies and practical exercises provide hands-on experience in reserves reporting, audit preparation, and defending estimates.
This course is available in the following formats:
Virtual
Classroom
Request this course in a different delivery format.
Course Outcomes
Delegates will gain knowledge and skills to:
Apply industry-standard methodologies for estimating petroleum reserves.
Interpret and implement the 2018 SPE PRMS and SEC reserves classification frameworks.
Utilize volumetric, material balance, and decline curve analysis for reserves estimation.
Integrate probabilistic approaches, including Monte Carlo simulations, to assess uncertainty.
Evaluate geological, technical, and economic factors influencing reserves estimates.
Develop compliant reserves reports for audits and regulatory submissions.
Analyze and validate reserves data to support investment and operational decisions.
Enhance decision-making by incorporating uncertainty analysis into reserves assessments
At the end of this course you’ll understand:
This course is designed for geologists, petroleum and reservoir engineers, reserves managers, and financial analysts involved in hydrocarbon reserves estimation and reporting. It is also beneficial for regulatory officials ensuring compliance, auditors and consultants reviewing reserves methodologies, and oil and gas executives making strategic investment decisions. Participants will gain essential skills to classify, estimate, and report reserves while understanding uncertainties that impact asset valuation and operational planning.
