OIL & GAS RESERVE EVALUATION

 

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