OVERVIEW
Reserves evaluation is the process of forecasting the production
of existing and planned wells and using these forecasts in combination with
economic data to estimate monetary value. This value can be used for determining
whether to develop a reservoir, buy or sell a field, or to try and attract
investment in a company. In order to provide consistent comparisons between
projects, properties, and total companies, evaluation of current and future
production values use a classification system. This classification system is
used to categorize the uncertainty of production forecasts. Generally, the
desired result of the evaluation is to obtain the net present value (NPV) of
the project, property, or company. https://uvi.co.id/cost-control-and-financial-reporting-of-the-upstream-operation-of-oil-and-gas-under-indonesia-psc/
COURSE CONTENT
1. BASIC PRINCIPLES AND DEFINITIONS
a. Petroleum Resources Classification Framework
b. Project-Based Resources Evaluations
2. CLASSIFICATION AND CATEGORIZATION
a. Resources Classification
b. Resources Categorization
c. Incremental Projects
d. Unconventional Resources
3. EVALUATION AND REPORTING
a. Commercial Evaluations
b. Production Measurement
c. Resources Entitlement and Recognition
4. ESTIMATING RECOVERABLE QUANTITIES
a. Analytical Procedures:
i. Analogs
ii. Volumetric Estimate
iii. Material Balance
iv. Production Performance Analysis
b. Deterministic and Probabilistic Methods
i. Aggregation Methods
