Course Overview
This 5-day course provides a comprehensive understanding of the principles, methodologies, and practical approaches used in evaluating oil and gas reserves. Participants will learn how to estimate reserves accurately using industry-standard techniques, interpret geological and engineering data, and comply with regulatory and reporting standards. The course combines theoretical knowledge with hands-on exercises to develop skills essential for reserves classification, volumetric analysis, decline curve analysis, and risk assessment.
Course Objectives
By the end of this course, participants will be able to:
- Understand the classification and terminology related to oil and gas reserves
- Apply geological and engineering data to reserves estimation
- Perform volumetric calculations and decline curve analysis
- Use material balance and reservoir simulation techniques for reserves evaluation
- Understand economic considerations and uncertainties in reserves estimation
- Comply with industry standards and reporting requirements (e.g., SPE-PRMS)
- Interpret reserves data for decision-making and investment appraisal
Who Should Attend
- Reservoir Engineers and Geoscientists
- Production and Field Engineers
- Asset and Project Managers
- Financial Analysts and Risk Assessors in Oil & Gas
- Regulatory and Compliance Professionals
- Anyone involved in reserves estimation and reporting
Course Outline
Introduction to Oil and Gas Reserves
- Definitions and Classification of Reserves and Resources
- Importance of Accurate Reserves Evaluation
- Overview of Industry Standards (SPE-PRMS)
- Case Study: Reserves Reporting and Regulatory Compliance
Data Gathering and Interpretation
- Geological, Geophysical, and Engineering Data Sources
- Well Logs, Core Analysis, and Production Data
- Data Quality and Integration Techniques
- Hands-on Exercise: Data Interpretation for Reserves
Volumetric Reserves Estimation
- Basic Volumetric Methodology
- Estimating Original Oil/Gas in Place (OOIP/OGIP)
- Factors Affecting Volumetric Calculations
- Workshop: Volumetric Calculation Using Sample Data
Decline Curve and Material Balance Analysis
- Fundamentals of Production Decline Curves
- Curve Fitting and Forecasting Techniques
- Material Balance Methods and Applications
- Practical Exercise: Decline Curve Analysis
Reserves Evaluation Uncertainty and Economic Considerations
- Risk and Uncertainty in Reserves Estimation
- Economic Evaluation of Reserves: NPV and Cash Flow Analysis
- Impact of Market and Operational Factors
- Integrating Reserves Data into Decision-Making
- Course Wrap-up, Q&A, and Feedback