Oil and Gas Reserves Evaluation - OGR

Efficient resource volume estimation and reporting are integral components for the success of businesses, forming the basis for informed decision-making and strategic planning. The introduction of industry standards such as SPE-PRMS and SEC ensures businesses adhere to recognised benchmarks, fostering transparency and credibility. The exploration of various resource volume categories, spanning from Prospective Resources to Developed Reserves, offers a comprehensive framework for understanding the dynamic nature of reserves. Engaging in discussions over practical cases and field examples enhances the practical applicability of theoretical knowledge, fostering a deeper comprehension. The presentation of technical and economic methodologies for forecasting reserves sheds light on the intricate processes involved. Addressing the treatment of uncertainty in reserves estimation is crucial, providing insights into effective risk management strategies. Furthermore, the explanation of the impact of reserves on financial accounting and corporate reporting underscores the financial implications of accurate estimation. The introduction of corporate governance principles, encompassing staff capability management and reporting standards, reinforces ethical practices. Offering an overview of actual practices and regulations governing reserves calculation and reporting processes ensures adherence to compliance and consistency. Lastly, the transfer of knowledge and experiences in reserves booking, audits, and certifications contributes to the continual enhancement of industry practices.

This Oil and Gas Reserves Evaluation - OGR training course will highlight:

• A thorough overview of Reserves and Resource Volume estimation and reporting
• In-depth coverage of technical calculations and forecasting
• Emphasis on understanding the economic & commercial implications of Reserves reporting
• The direct impact of these aspects on Corporate accounting
• Various Reserves reporting authorities
• Examples to illustrate the practical impact of Reserves volumes on Corporate reporting

By the end of this Oil and Gas Reserves Evaluation - OGR training course, participants will learn to:

• Identify the scale of challenge
• Understand the technical & operational aspects integration / adaptations concept
• Analyse the various models adapted and regulated by the various international bodies such as the SEC
• Improve on skills to build on current capabilities
• Develop and fine tune current estimation methods

This Oil and Gas Reserves Evaluation -OGR training course is suitable to a wide range of professionals but will greatly benefit:

• Energy Professionals
• Government regulators
• Equity analyst and Bankers
• Joint Venture officers
• Leaders involved in Reserves estimation and Reporting
• Reservoir Managers
• Integrated Reservoir Studies
• Geoscientists
• Reservoir Engineers
• Simulation Engineers
• Individuals accountable for Reserves estimation and Reporting

Participants to this training course will receive a thorough understanding on the subjects covered by the course outline with the trainer utilising a variety of proven adult learning teaching and facilitation techniques. Training course methodology includes professional schematics, videos, case studies surrounding the topic which will enable the participants to have an in-depth understanding of the topic as well as practical skills to implement the learning into real life strategies.

The outlined content for this training course can contribute significantly to the improvement of an oil and gas company in several ways:

• Enhanced Reservoir Management: By delving into detailed methodologies for reserves estimation, the training equips personnel to better manage and optimise reservoirs. This, in turn, can lead to increased recovery rates and prolonged asset life.
• Informed Decision-Making: The comprehensive coverage of various factors influencing reserves, including reservoir parameters, recovery factors, and estimation techniques, empowers decision-makers within the company. Informed decisions about well, reservoir, and project management can positively impact production and profitability.
• Risk Mitigation: The training's focus on uncertainty in reserves estimation provides valuable insights into risk management strategies. This can help the company anticipate and navigate potential challenges, reducing operational and financial risks.
• Alignment with Industry Standards: Understanding and implementing industry standards such as SPE-PRMS and SEC ensures that the company's reporting practices align with globally recognised benchmarks. This fosters credibility and transparency, which can be crucial for regulatory compliance and stakeholder trust.
• Optimised Gas Reservoir Management: The specific attention given to gas reservoirs, including pressure regimes, material balance, and various extraction strategies, supports effective management of gas reserves. This is particularly relevant in a market where gas plays a significant role.

Overall, the training course provides a holistic approach to reserves estimation and reporting, aiming to optimise operations, enhance decision-making, and ensure the company's compliance with industry standards and regulations.

By the end of this PetroKnowledge Oil and Gas Reserves Evaluation -OGR training course, Participants will be able to efficiently develop and manage the CNG transportation sector.

• Efficient Resource Management: The training on the PRMS system and guidelines for its application aids in efficient resource management. This includes proper categorisation, assessment, and evaluation of petroleum resources, contributing to a more strategic and organised approach as is provided by a well-trained work force.
• Adherence to Corporate Governance: The introduction of Corporate Governance Reporting Systems, along with discussions on E&P Reserves and Resources Operating Standards, SEC regulations, and SORP regulations, promotes adherence to ethical practices and regulatory compliance.
• Professional Development: The training enhances the skills and knowledge of employees, contributing to ongoing professional development within the company. Well-trained staff are better equipped to handle complex tasks, fostering a culture of continuous improvement.
• Consistent Practices: An overview of actual practices and regulations for reserves calculation and reporting processes ensures consistency and standardisation across the organisation. This can lead to streamlined processes and improved accuracy in reporting.
• Knowledge Transfer: The transfer of knowledge and experiences in reserves booking, audits, and certifications ensures that best practices are shared within the organisation, creating a knowledgeable and skilled workforce.